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The Advocate Blog

Final Fixed Assets, Stess Test Rules Top NCUA Meeting Agenda

Final rules on fixed assets and stress testing schedules top the agenda for the July National Credit Union Administration board meeting.

The NCUA reissued the fixed assets proposal in March, after first proposing a rule in July 2014.

The current proposed rule would remove the 5% limit cap on fixed assets,... More

Credit Union National Association: CUNA Staff Meets with CFPB

CUNA staff met with the Consumer Financial Protection Bureau (CFPB) this week to discuss the bureau’s proposals under consideration regarding payday and small-dollar loans.

During the meeting, CUNA staff provided the bureau with information on credit unions’ role in combating abusive payday lending... More

CUNA IDs ‘Staggering’ Effect of Mortgage Reporting Offset Provision

WASHINGTON (7/16/15)--A provision in the Highway and Transportation Funding Act of 2015 (H.R. 3038) containing a mortgage reporting offset has led to great concern from CUNA.

Jim Nussle, CUNA president/CEO, wrote to House Ways and Means Chair Paul Ryan (R-Wis.) and ranking member Sandy Levin (D-Mich.)... More

Bill Would Exempt Many CUs/Community Banks from CFPB Rules

WASHINGTON (7/16/15)--CUNA supports the intent of a bill introduced this week that would exempt financial institutions with less than $10 billion in assets from Consumer Financial Protection Bureau (CFPB) rules, and looks forward to working to perfect the legislation as it moves forward.

Rep. Roger Williams... More

CUNA to Congress: CFPB Hurting Consumers, Structural Changes Necessary

WASHINGTON (7/15/15)--Consumers lose when the Consumer Financial Protection Bureau (CFPB) keeps credit unions from serving them. That’s the message CUNA sent to the U.S. Senate Banking Committee Tuesday in advance of its hearing with CFPB Director Richard Cordray.

Cordray will give the bureau’s semiannual... More

Mobilize Members in Support of S. 961, H.R. 2205

Merchants are not held to the same security standards as credit unions, but we’re working to change that with the help of credit union members.With data breaches totaling more than 1 billion records last year and affecting millions of Americans, it is time for Congress to get involved and... More

Pearce-Sherman Bill Would Limit Enforcement/Litigation under TILA-RESPA Disclosure Rule

WASHINGTON (5/5/15)--Rep. Steve Pearce (R-N.M.), along with Rep. Brad Sherman (D-Calif.), introduced a bill last week that would provide a temporary delay in enforcement and a liability safe harbor period under the Consumer Financial Protection Bureau’s (CPFB) Truth in Lending Act-Real Estate Settlement... More

New Senate Bill Tackles Merchant Data Protections

WASHINGTON (5/1/15)--A coalition of six Democratic senators introduced a data protection bill Thursday that would, in part, require companies that store sensitive personal or financial information on 10,000 customers or more to meet specified consumer privacy and data security standards to keep this... More

CUNA Highlights CU Impact on Capital Formation for Hearing Record

WASHINGTON (4/30/15)--Credit unions stand ready to advance economic improvements for their members, CUNA President/CEO Jim Nussle told members of the U.S. House in a letter sent Wednesday.

The letter was sent for the record of a House Financial Services subcommittee on capital markets and government... More

Shelby Says QM Tweaks on Table for Reg Relief

Senate Banking Committee Chairman Richard Shelby offered a few hints Wednesday about what bankers might see in pending regulatory relief legislation due next month.

Shelby didn't offer many specifics about the package or where the process stands with fellow lawmakers on his committee, but did signal a... More

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