Compliance

Now that the state House of Representatives has passed the legislation, all eyes turn to the state Senate, where the Michigan CU League expects to find strong support for the modernization effort.

The window is rapidly closing for the inclusion of key credit union measures in the budget package as lawmakers remain sharply divided over the bill.

The House Financial Services Committee approved a data security bill Tuesday that would require all companies that handle sensitive financial data to have similar security protections and notification requirements as financial institutions.

Align Commerce, a San Francisco-based firm focused on cross-border payments for small and midsize businesses while expanding the use of blockchain technology to move currency, has hired Intuit veteran Jay Hansen as compliance officer and general counsel.

The Financial Stability Oversight Council is an enigmatic interagency body that has not provided enough rationale for designating certain insurance firms as a threat to the economy, the Republican leadership of the House Financial Services Committee said Tuesday.

Should NCUA be required to hold public hearings prior to approval of its final budget? That is the key question as the House Financial Services Committee prepares to consider a bill for markup on Tuesday.

Visa has reached an agreement with Taxback International to streamline the recovery of value-added taxes, which frequently go unclaimed..

NCUA Chairman tells House committee that Financial Stability Oversight Council performs ‘valuable service’ to Americans.

The Consumer Financial Protection Bureau announced Thursday that it had hit Clarity Services, a Florida-based consumer credit reporting company, with an $8 million fine over Fair Credit Reporting Act violations.

Issues with upgrading software and ensuring pricing accuracy to comply with the consumer bureau's "integrated disclosures" have been magnified in wholesale loan transactions.

The House easily passed the highway spending bill that was hammered out by the House and Senate conference and now heads to the Senate, where it is expected to be approved and sent off the White House to be signed into law.

Credit unions, banks and a host of other interests are challenging aspects of the way the FCC is interpreting and implementing the Telephone Consumer Protection Act.

A federal appeals court has ruled that Visa and MasterCard were coerced by law enforcement into cutting ties with a website that runs sex-related ads. The decision is a powerful statement in the debate over how far government officials can go in enlisting financial institutions as their deputies.

NCUA has released several new videos about the protection it provides to federally-insured credit unions.

A number of regulatory reforms backed by the credit union lobby made it through the House-Senate conference process.

Sage Bank in Lowell, Mass., has agreed to pay about $1.2 million to settle Justice Department allegations of discrimination against minorities in mortgage lending.

NCUA banned six individuals from being involved in the running of a federally insured financial services institution.

The tiny Cleveland-based credit union is the ninth federal insured CU to be liquidated in 2015.

Despite the House Financial Services Committee's passage of a bill to convert the Consumer Financial Protection Bureau's leadership structure from a single director to a commission, Democrats have largely opposed the bill.

The Senate is the next battleground for legislation requiring the Consumer Financial Protection Bureau to rescind 2013 guidance on indirect auto lending, but the bill may do nothing to slow enforcement efforts.