In the News
NCUA, agencies seek info on use of AI
(April 2, 2021) Information on how credit unions and banks use artificial intelligence (AI) in their activities, including fraud prevention, personalization of customer services, credit underwriting, and more is sought...
‘Gear up’ for foreclosures, CFPB warns
(April 2, 2021) Seemingly pulling no punches, the CFPB late this week sent a warning to mortgage servicers: unprepared for an expected surge in homeowners needing assistance is unacceptable –...
Agencies to target illegal evictions
(April 2, 2021) Evictions by major multistate landlords, eviction management services and private equity firms, among others, will be targeted for investigation by the CFPB and the Federal Trade Commission...
Bureau yanks 7 policy statements off shelf
(April 2, 2021) Seven policy statements issued in 2020 from late March to early June that provided temporary flexibilities to financial institutions in the areas of consumer mortgages, credit reporting,...
BRIEFLY: Job opening in OR; 2020 HMDA data available; Joint agency webinar focuses on financial education
(April 2, 2021) The Oregon Department of Consumer and Business Services has an opening for a mortgage banker/broker examiner (financial examiner 2). The closing date for the position is April...
NASCUS supports raising threshold for ‘complex’ CUs to $500 million
(March 26, 2021) The state system supports raising the asset threshold to $500 million for defining a credit union as “complex” under risk-based net worth (RBNW) requirements, citing the benefit...
Fed sets up committees to address climate change
(March 26, 2021) Two new Federal Reserve committees will focus on the impact of climate change on financial stability, Fed Board Gov. Lael Brainard said this week, as the agency...
‘No scenario’ for continued use of LIBOR, Fed governor asserts
(March 26, 2021) The Federal Reserve’s top supervisor this week made it clear that the future of LIBOR as a reference rate for such products as adjustable-rate mortgages will be...
Bureau blames pandemic’s impact for complaint upticks
(March 26, 2021) More than a half million complaints – up 54% from the previous year – were fielded in 2020 by the CFPB, reflecting the financial impact of the...
HR Series, Marijuana & Hemp sessions ahead
(March 26, 2021) Dates and details for three events upcoming in May and June were unveiled by NASCUS this week, focusing on human resources issues and marijuana and hemp developments....
TRANSITIONS: Permanency in MS; new face in AK, so long in NM
(March 26, 2021) Rhoshunda Kelly is now the Mississippi commissioner of banking and finance, removing the “interim” from her title that she earned in an appointment announced last summer. Kelly...
BRIEFLY: Today is ‘joint ownership share accounts’ rule day; Cannabis safe harbor bill to be intro’d (again); PPP deadline extended to May 31; NCUA plans BSA/AML webinar April 14; Reminder: Pierre Jay Awards presented April 22
(March 26, 2021) Today is the effective date of NCUA’s new rule on joint ownership share accounts, which essentially permits the use of records other than signed membership cards or...