In the News
Nov. 17: CFPB Updates This Week
PUBLISHED NOV 16, 2023 CFPB Report Highlighting Consumer Protection Issues in Medical Debt Collection The Consumer Financial Protection Bureau (CFPB) issued a report highlighting the challenges American families face when debt collectors pursue...
NCUA Comment Period Open on Simplification of Share Insurance Rules Proposed Rule
NASCUS Regulatory Summaries Recently Published *NEW* NCUA Rules 745: Simplification of Share Insurance Rules The comment period on a proposed rule that would simplify the NCUA’s share insurance regulations by establishing...
Staying on Top of FinCEN Updates
NASCUS Regulatory Summaries Recently Published *NEW* Financial Crimes Enforcement Network (FinCEN): Notice of Proposed Rulemaking and Request for Comment—Proposal of Special Measure Regarding Convertible Virtual Currency Mixing FinCEN Finalizes Rule on...
Nov. 10: CFPB Updates This Week
CFPB Orders Citi to Pay $25.9 Million for Intentional, Illegal Discrimination Against Armenian Americans PUBLISHED NOV 08, 2023 The Consumer Financial Protection Bureau (CFPB) ordered Citi to pay $25.9 million in...
Marijuana Businesses Sue to Gain Access to Financial Services
Massachusetts businesses say federal law interferes with intrastate commerce. Arguing that the federal law that prevents them from accessing financial services is unconstitutional as long as they do business only...
Nov. 3: CFPB Updates This Week
PUBLISHED NOV 02, 2023 CFPB Issues New Report on State Community Reinvestment Laws The Consumer Financial Protection Bureau (CFPB) published a new analysis on state Community Reinvestment Act laws, highlighting how...
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...