News Archives
Chairman Harper Emphasizes Allyship to Achieve DEI Goals
NCUA Publishes Research Note on Social Attributes of Credit Union Mortgages National Credit Union Administration Chairman Todd M. Harper emphasized the power of allyship to achieve diversity, equity, and inclusion goals...
CFPB Report Finds Credit Card Companies Charged Consumers Record-High $130 Billion in Interest and Fees in 2022
Consumers with revolving debts on average pay far more in interest and fees than get back in rewards The Consumer Financial Protection Bureau (CFPB) today released its biennial report to...
Reaching and engaging the Hispanic market: Why “Hablamos Español” may not be enough
For several weeks from mid-September through mid-October, the nation celebrated Hispanic Heritage Month. Honestly, I was pleasantly surprised to see each of the three credit unions I’m a member of...
Review of FDIC’s Handling of Failure of Signature Bank Finds Inconsistency in Exams, Oversights & More
A review of the how the FDIC handled the failure of Signature Bank has found inconsistency in examinations, missed opportunities, supervision oversights and more. According to the material loss review of...
NCUA Board Approves Final Rule on Financial Innovation
The National Credit Union Administration Board held its eighth open meeting of 2023 and unanimously approved a final rule that amends the NCUA’s regulations regarding indirect lending, the purchase of...
Oct. 20: CFPB Updates This Week
Senate votes to override CFPB small business lending rule Oct. 19, 2023 — by a vote of 53-44, the Senate voted to approve S.J. 32, the resolution introduced under the...
Regulation Across the Pond
EU Bank Regulator Recommends Accelerating Integration of ESG Risks into Capital Requirement Framework EU banking supervisor the European Banking Authority (EBA) announced the publication of a new report assessing the...
Don’t Miss Out: BSA/AML Certification Conference with CUNA
LIVE IN-PERSON, SCHOOL & CONFERENCE, RECORDED Event Date: November 05 – November 09, 2023 Location: Omni Las Colinas Hotel, Irving, TX NASCUS members receive CUNA member pricing. To receive this...
Oct. 13: A Busy Week at the CFPB
PUBLISHED OCT 12, 2023 CFPB and Justice Department Issue Joint Statement Cautioning that Financial Institutions May Not Use Immigration Status to Illegally Discriminate Against Credit Applicants The Consumer Financial Protection Bureau...
New Report Finds the Average Consumer Is Overdrawn for 9 Days
Present economic and financial challenges have compelled individuals from various income brackets and credit backgrounds to resort to overdrafts — a form of credit whereby a consumer’s bank covers a...
Oct. 6: CFPB Updates This Week
Consumer Financial Protection Circular 2023-03 Adverse action notification requirements and the proper use of the CFPB’s sample forms provided in Regulation B Question presented When using artificial intelligence or complex...
What is the New Beneficial Ownership Information (BOI) Reporting and How Does it Affect Your Business?
Commencing Jan. 1, 2024, certain business owners and operators will have to comply with new information retention and reporting requirements for the direct and indirect ownership of privately held entities:...