Compliance

Credit unions are still clamoring for regulatory relief, only this year it's CFPB—not NCUA—that is prompting the loudest criticism.

The Financial Accounting Standards Board is giving a handful of community banks a chance to explain why a plan to change the accounting for loan losses will result in major hardship — and credit unions may want to follow suit, according to one CU advocate.

Credit unions will be fighting a compressed legislative schedule and heightened focus on the 2016 elections, but the effort to move regulatory relief and other key provisions in Congress this year is expected to continue in earnest.

The Financial Accounting Standards Board is giving a handful of community banks a chance to explain why a plan to change the accounting for loan losses will result in major hardship. The proposal would force banks to record a loan-loss provision once a loan is originated, rather than when a loss becomes probable.

But the strong demand for tax credits from those projects is also whittling down the investment returns as their riskiness declines, according to a new report by the New York-based accounting firm CohnReznick.

Some lenders have asked whether the bureau would adjust its so-called resubmission guidelines — which determine whether lenders have to refile data based on errors found in samples — and it has responded with a request for further industry input.

Some lenders have asked whether the bureau would adjust its so-called resubmission guidelines — which determine whether lenders have to refile data based on errors found in samples — and it has responded with a request for further industry input.

WASHINGTON — While it pursues the search for a permanent acting deputy director, the Consumer Financial Protection Bureau has named David Silberman to serve as its acting No. 2 starting next week.

After several years of tussling with mortgage rules and their implementation, the Consumer Financial Protection Bureau is focusing on several areas that will primarily affect the nonbank market, including debt collection, payday-type loans and prepaid cards.

Fourth Corner Credit Union has lost its court battle to offer banking services to the marijuana industry, but its organizers are not throwing in the towel.

Washington-- Banking industry officials hailed changes to a Financial Accounting Standards Board rule that they have long complained unfairly distorts banks' quarterly earnings.

Fourth Corner Credit Union's failed court battle against the Fed has led to renewed calls for U.S. lawmakers to offer stronger protections to financial institutions that provide banking services to legal marijuana growers and distributors.

A Colorado credit union's failed court battle against the Fed has led to renewed calls for U.S. lawmakers to offer stronger protections to financial institutions that provide banking services to legal pot growers and distributors.

After several years of tussling with mortgage rules and their implementation, the Consumer Financial Protection Bureau is focusing on several areas that will primarily affect the nonbank market, including debt collection, payday-type loans and prepaid cards.

Vows to turn credit rating agencies into nonprofits, allow the U.S. Postal Service to offer financial products, and cap interest rates banks charge consumers -- just like credit unions.

Federal judge rebuffs legal challenge by Colorado credit union chartered to serve marijuana businesses but then denied access to the U.S. payment system.

From the bitcoin money laundering scheme that brought down a credit union to bankers threatening lawsuits over proposed changes to field of membership, Credit Union Journal presents the most popular stories of 2015.

Credit union works with vendor to stay one step ahead of cyber attacks while being in compliance with Federal Financial Institutions Examination Council regs.

If impending rules on overdraft protection go too far, banks could intentionally pull back on providing the service to illustrate just how useful it is.

Dilip Ratha, an economist at the World Bank, shows how the power of a simple remittance sent from one family member to another could be magnified to improve the lives of poor people.