Compliance

Chris Myklebust will become commissioner of the Colorado Division of Banking. In his previous job, he approved a charter for a CU to serve the state's legal marijuana industry.

The CFBP says it has not made any change to the definition of "creditor" under the Truth In Lending Act new rules regarding TRID even though CUNA said it found a discrepancy relating to exemptions for small lenders.

House Democrats wanted to talk about anything but allegations of employee discrimination at the CFPB raised by recent news reports.

A senior civil rights official at the Consumer Financial Protection Bureau is poised to tell Congress Thursday that the agency willfully disregards the process for handling internal employee complaints of discrimination and has repeatedly retaliated against staff who spoke out.

TRENTON, N.J. — The Garden State will soon have a new banking commissioner.

The percentage of funds that NCUA annually transfers to its operating budget from the National Credit Union Share Insurance Fund to cover expenses of the agency — known as the "overhead transfer rate" — is subject to notice and comment requirements under federal law, according to a legal analysis by NASCUS.

Bank of the Orient in San Francisco has received a federal cease-and-desist order because of shortcomings in its compliance with anti-money-laundering rules.

According to the agency's 2014 Annual Report, NCUA failed to meet all of its targets — in some cases even losing ground — for increasing the number of females, minorities and persons with disabilities at all levels of the organization, including management.

Cumbersome regulations for prepaid products proposed by the Consumer Financial Protection Bureau could reduce consumer-friendly market competition, discourage innovation and effectively cut off many Americans’ participation in the digital economy.

The Canadian Senate Banking, Trade and Commerce committee has issued a report encouraging "a light regulatory touch — almost a hands-off approach" to regulating digital currencies.

While regulators worldwide have urged banks not to "derisk" by cutting off entire industries or geographies, it is rare for policymakers to specifically cite this controversial sector as wrongly underserved.

WASHINGTON — On the heels of the Consumer Financial Protection Bureau being forced to delay implementation of the new TILA/RESPA Integrated Disclosures (commonly referred to as TRID), CUNA says it has discovered a discrepancy relating to exemptions for small lenders.

The deal is the latest step by eBay to focus on its online marketplace as it restructures. The San Jose, Calif.-based company is scheduled to spin off its PayPal transactions business in the third quarter.

The Consumer Financial Protection Bureau has fined a medical debt collector and ordered the company to provide financial relief to consumers for mishandling credit-reporting disputes.

Royal Bank of Scotland Group Plc said it has processed the 600,000 credit- and direct-debit transactions that were delayed this week in the government-owned bank's latest payments failure.

FHA tries to clarify what loan defects will bring the harshest penalties to guide lenders and instill more confidence.

In what would be the first comprehensive rewrite of its member business lending regulation since 2003, the NCUA Board unanimously approved a proposed series of changes that would make it markedly easier for CUs to lend to businesses.

U.S. ATM operators still in the process of upgrading to EMV-chip card acceptance must also be ready to accept debit cards with common application identifier coding.

India and China are both huge markets for cards that are also fraught with regulatory and political hurdles. To better address these markets, MasterCard has created two regional divisions and promoted executives with expertise in both countries.

Financial services technology provider Fiserv has updated its capabilities to handle EMV-chip card production entirely in-house.