Compliance

MADISON, Wis. – Filene Research Institute and Credit Union Central of Canada are seeking North American credit unions to complete a survey on increasing regulation on credit unions in Canada and the United States – responses are due June 14.

One person believes the CFPB is a "work in progress" and CUs need to be prepared for ongoing changes to rules from the agency.

Cardtronics is upgrading existing Braille signage on thousands of its ATMs with a goal of fulfilling an agreement that is related to litigation between the company and the state of Massachusetts and the National Federation of the Blind.

ALEXANDRIA, Va. – NCUA told consumer advocates concerned with credit unions offering high-priced payday loans it’s hands are tied because the credit union regulator has no legal authority over a payday lending CUSO.

BALTIMORE – NCUA will begin accepting applications June 17 for this year’s round of small credit union grants and the agency plans to award $1.2 million in grants up to $24,000.

CANTON, N.C. – Champion CU yesterday said it has signed for regulatory compliance support and assistance from COMPASS 4 CUs.

DES MOINES -- Credit unions in Iowa and Nebraska are partnering with CoOportunity Health to offer affordable, health insurance options for individuals, families and businesses starting this fall at the approach of the deadline for the Affordable Care Act, known as Obamacare.

As two major accounting standards group attempt to improve the quality of financial instrument reporting, one expert sees new problems being created.

The Consumer Financial Protection Bureau said it has detected alleged racial discrimination in the auto loan market. Finding the evidence was the easy part-the tougher questions involve what the agency intends to do about it, and how its eventual actions will affect competition among lenders.

NORWALK, Conn. – NCUA joined bank regulators late Friday to endorse the controversial accounting proposal issued by the Financial Accounting Standards Board which is expected to require credit unions and banks to set aside more loan loss reserves.

NORWALK, Conn.—Credit unions are overwhelmingly scoring a proposal by the Financial Accounting Standards Board to incorporate predictions of future loan performance in their calculations for allowance for loan losses and are asking the accounting rule-setters for an exemption from the proposal if it is finalized.

ALEXANDRIA, Va. – NCUA ruled that government guaranteed bonds issued by the U.S. Overseas Private Investment Corp., which helps finance private sector projects overseas, are permissible investments for federal credit unions.

LAS VEGAS – The Consumer Financial Protection Bureau’s mission – to protect consumers – is a “great one,” but Michael Benoit says the “problem” is the manner in which the CFPB is carrying out its business.

SACRAMENTO, Calif. – The California Department of Financial Institutions has issued an advisory prohibiting state charters from using phrases such as “anyone can join” in their advertising.

WASHINGTON – While supportive of the proposal, CUNA is calling on NCUA to make some tweaks to proposed changes to its fixed-asset rule.

Banks and CUs have finally found common ground-both loathe the Consumer Financial Protection Bureau.

WASHINGTON – A prohibition on mandatory arbitration provisions in certain mortgage loans is now just two weeks away.

ARLINGTON, Va. – NAFCU is pressing NCUA to make some changes in a proposed set of rules on federal credit union ownership of fixed assets.

ARLINGTON, Va. – As a result of the new Qualified Mortgage (QM) rule from the Consumer Financial Protection Bureau, nearly half (44%) of credit unions in a survey conducted by NAFCU indicated they will cease originations of non-qualified mortgages, while another 44% will reduce originations.

It is not your imagination; credit unions ARE spending more and more time dealing with new regulations.