Amanda Tuckey

Summaries outline reg alerts on ECOA, QM

(June 11, 2021) NASCUS posted two other summaries this week, on NCUA-issued “regulatory alerts” over the last two weeks on the CFPB’s Regulation B (Equal Credit Opportunity Act, ECOA), and...

AROUND THE STATES: TX regulator gets 12 more years

(June 11, 2021) With the signing by the governor of legislation giving the Texas Credit Union Department 12 more years to serve the state’s credit unions and members, the agency’s...

Report critiques bureau’s fair lending reorganization

(June 11, 2021) Changes made during its reorganization have led to a loss of fair lending expertise at the CFPB, and other actions taken by the agency could lead to...

Marijuana/hemp eSchool wraps up

(June 11, 2021) Marijuana and hemp are the subjects of a three-day virtual conference, sponsored by NASCUS, which wraps up today after delving into a wide variety of subjects about...

BRIEFLY: Transition – Farewell to VA’s Hughes after 41 years; Retiring Ito profiled in American Banker; Trades warn about more reporting; 2 weeks left to apply for CDRLF grants

(June 11, 2021) Congratulations to Virginia’s Robert “Bob” Hughes retired as deputy director of the State Corporation Commission Bureau of Financial Institutions on May 28 after 41 years of service...

Changes for OTR, new sub debt rules cited as achievements by retiring leader

NASCUS’ Lucy Ito discusses achievements and NASCUS, and the outlook for credit unions, during her interview with Mike Lawson, CUBroadcast.com (click on the arrow to view the complete video) (June 4,...

New reporting proposed for deposits inflow

(June 4, 2021) All deposit, loan and investment accounts at financial institutions (including credit unions) for persons and businesses would be subject to a $600 “de minimus” gross inflow reporting...

Alert aims to clarify impact of Reg B interpretive rule

(June 4, 2021) Credit unions should ensure their policies, procedures, and training materials promote compliance with federal equal credit opportunity laws, and Regulation B administered by the CFPB, in line...

Harper tells Congress: more needed for CDRLF

(June 4, 2021) An increase in appropriations in 2022 for NCUA’s Community Development Revolving Loan Fund (CDRLF) was requested this week by agency Board Chairman Todd Harper in NCUA’s annual...

Proposals get the ball rolling on new FedNow service

(June 4, 2021) A “new and comprehensive” set of rules – but with concepts that are like existing regulations – to govern the Federal Reserve’s new round-the-clock instant payments service...

Group updates steps to take in face of LIBOR demise

(June 4, 2021) Steps that should be taken now and through the rest of the year by those with exposure to the soon-to-be-defunct LIBOR are outlined in a “roadmap” issued...

BRIEFLY: CFPB updates mortgage servicing FAQs; Written, specific direction needed on use of alternative data, GAO tells regulators

(June 4, 2021) Frequently asked questions (FAQs) about mortgage servicing were updated this week by the CFPB, concerning escrow account compliance under Regulations X and Z (RESPA and TILA, respectively)....