NASCUS Report Archives
Rule gives evictees power to sue debt collectors
(April 23, 2021) In a follow-up to its action last week essentially freezing foreclosures until year’s end, the CFPB this week issued an interim final rule stating that tenants can...
Pierre Jay Awards winners recognized, feted
(April 23, 2021) Pierre Jay Awards winners — Patty Idol, Sarah Vega and Kim Santos (pictured from left to right in the collage below) — were recognized Thursday for winning...
BRIEFLY: House gives OK (again) to SAFE Banking Act; CECL session on technical issues set for May 20; Help in paying Medicare tax for employers offered
(April 23, 2021) The House passed NASCUS-backed legislation this week (again) aimed at providing a safe harbor for financial institutions seeking to serve legitimate cannabis-related businesses in states where the...
Agencies seek feedback on BSA/AML guidance
(April 16, 2021) NCUA and other federal agencies are seeking feedback on how well four-year-old guidance for complying with anti-money laundering and Bank Secrecy Act (AML/BSA) requirements is working for...
UPDATED: Agency adopts rule extending reg relief due to savings surges
(April 16, 2021) In a development Friday morning, the NCUA Board announced it had adopted an interim final rule (IFR) by notation vote that reduces the earnings retention requirement for credit...
Summary looks at info request on use of AI
(April 16, 2021) A request for information (RFI) about how credit unions and banks use artificial intelligence (AI) in their activities, including fraud prevention, personalization of customer services, credit underwriting,...
CFPB’s bulletin on foreclosure expectations outlined
(April 16, 2021) In another summary prepared this week, NASCUS outlines a bulletin issued by the bureau April 6 detailing its expectations for mortgage servicers’ engagement with borrowers in the...
Marijuana/hemp e-school highlights ed events ahead
(April 16, 2021) Mark your calendars for a series of education events coming up in the next couple of months, particularly a three-day virtual event in June focusing on marijuana...
TRANSITIONS: Permanent commissioner in MN
Grace Arnold is now the permanent commissioner of the Minnesota Department of Commerce, as appointed by Gov. Tim Walz (D) Thursday. She replaced Steve Kelley in the role. As commissioner,...
ON THE (virtual) ROAD: In AZ
(April 16, 2021) NASCUS President and CEO Lucy Ito was on the virtual road this week meeting with First Credit Union of Chandler, Ariz. Calling itself Arizona’s “original” credit union...
BRIEFLY: New comms staffer at NCUA; Hiring of people of color up at agency; LIBOR legacy contract legislation advocated; Biden reportedly preparing order to assess climate change ‘financial risk’
(April 16, 2021) Samuel Schumach was tapped as deputy director for external affairs and communications at NCUA this week by agency board Chairman Todd Harper. Schumach previously served as legislative...
Freezing foreclosures until year’s end proposed by CFPB
(April 9, 2021) Widely depicted as a freeze on foreclosures until after Dec. 31, the CFPB this week unveiled a set of new rules it said were aimed at preventing...