Compliance

HOUSTON – Just as you thought suits over ATMs would abate because of new disclosure rules, a new kind of ATM suit alleging violations of the Americans With Disabilities Act’s access for the blind requirements is popping up in several states.

ALEXANDRIA, Va. – NCUA and the banking regulators proposed guidance today for credit unions and banks using Facebook, Twitter and other social media, which would ensure that users abide by proper consumer rules and regulations, and limit potential legal risks, among other things.

The Consumer Financial Protection Bureau amended its latest rules to exempt small credit unions and banks that originate and service fewer than 5,000 mortgage loans, and while both CUNA and NAFCU are pleased with the amendment, CUs are still concerned about the new rule.

The Consumer Financial Protection Bureau's new rules for mortgage lenders reflect a belief that an overly restrictive rule would have been more harmful to consumers than no regulations.

WASHINGTON – Credit unions celebrated yesterday when the Consumer Financial Protection Bureau announced it was expanding the exemption criteria for its new mortgage servicing rules – but that celebration may have been premature.

The Consumer Financial Protection Bureau set new rules last week that will require credit unions, banks and other mortgage lenders determine a borrower's ability to repay their loans.

Brad Pricer of CUNA Mutual Group has offered the following outline of key healthcare reform requirements taking effect this year that are garnering the most attention and questions from CUs.

Not much has changed regarding healthcare reform since the Supreme Court's decision to uphold President Obama's healthcare law-except that a number of important compliance deadlines are now bearing down on employers.

While more healthcare reform requirements kick in in 2014, the one to pay close attention to, according to one expert, is the "pay or play" mandate.

SACRAMENTO, Calif. – The California Department of Financial Institutions last week said it is eliminating paper examination reports for state chartered credit unions and banks as part of its latest cost-saving move.

ALEXANDRIA, Va. – The NCUA Board this morning approved a rule broadening the definition of “small credit union” from $10 million to $50 million, thereby exempting an additional 2,400 credit unions from the agency’s rules on risk-based capital and interest-rate risk.

The Consumer Financial Protection Bureau has approved a "concept design" for its DC headquarters.

ALEXANDRIA, Va. – The NCUA Board said it has terminated four pilot programs that allowed individual credit unions to engage in the short sale of U.S. Treasuries.

While the Senate has approved the bill to eliminate one of the dual-fee disclosure requirements at ATMs, it's no time for credit unions to relax when it comes to monitoring ATMs.

NCUA has rejected Commodore Perry FCU's appeal to the agency's Supervisory Review Committee.

CHARLOTTESVILLE, Va. – Despite the delay in implementation of Basel III rules, large banks are moving forward to build their capital base.

WASHINGTON – The Consumer Financial Protection Bureau has specified changes it would like to make to a rule designed to increase regulation of international money transfers.

WASHINGTON – With his signature Friday President Obama put an end to a great deal of frustrating regulatory burden regarding ATM fee disclosures, along with a wave of lawsuits, by signing into law a bill repealing dual fee disclosure at ATMs.

A massive study of consumer credit reports released last week found consumers had disputed up to 38-million items on their reports during 2011.

NCUA last week introduced a new website aimed at small credit unions.