Summaries
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Notice and Request for Comment Regarding the CFPB’s Inquiry into Big Tech Payment Platforms
CFPB-2021-0017: Notice and Request for Comment Regarding the CFPB’s Inquiry into Big Tech Payment Platforms Summary On October 21, 2021, the Consumer Financial Protection Bureau (CFPB) ordered six large technology... -
NCUA Risk Alert: Business Email Compromise through Exploitation of Cloud-Based Email Services
NCUA Risk Alert: 21-RISK-01 Business Email Compromise through Exploitation of Cloud-Based Email Services October 2021 NCUA issued Risk Alert 21-Risk-01 to provide credit unions a warning regarding a common Business Email... -
CFPB Issues New Specifications for its Collect Website Relating to Credit Card Data Submission
21-RA-09 CFPB Issues New Specifications for its Collect Website Relating to Credit Card Data Submission October 2021 On August 20 the CFPB issued new technical specifications for complying with credit... -
Summary: Protections for Borrowers Affected by the COVID-19 Emergency Under the Real Estate Settlement Procedures Act (RESPA), Regulation X
Protections for Borrowers Affected by the COVID-19 Emergency Under the Real Estate Settlement Procedures Act (RESPA), Regulation X April 2021 CFPB Summary re: Protections for Borrowers Affected by the... -
Legal Opinion 21-3500 Proposed Capital Markets Funding Program for Credit Unions
Legal Opinion 21-3500 Proposed Capital Markets Funding Program for Credit Unions April 23, 2021 NCUA issued Legal Opinion 21-3500 to address issues related to a credit union funding program in... -
CFPB Delays Mandatory Compliance Date of General Qualified Mortgage (QM) Final Rule Under Truth in Lending Act
21-RA-06 CFPB Delays Mandatory Compliance Date of General Qualified Mortgage (QM) Final Rule Under Truth in Lending Act June 2021 Earlier this year, NCUA issued Regulatory Alert 21-RA-01 to provide... -
NASCUS Summary: NCUA Risk Alert 21-RA-02 — CFPB Publishes 2021 Threshold Adjustments Under Regulation C, Regulation Z and Regulation V
21-RA-02 CFPB Publishes 2021 Threshold Adjustments Under Regulation C, Regulation Z and Regulation V NCUA issued Regulatory Alert 21-RA-02 to inform credit unions on the CFPB’s threshold adjustments to Regulations... -
Summary: Answers to Frequently Asked Questions Regarding Suspicious Activity Reporting and Other Anti-Money Laundering Considerations
Summary: Answers to Frequently Asked Questions Regarding Suspicious Activity Reporting and Other Anti-Money Laundering Considerations Prepared by NASCUS Legislative & Regulatory Affairs Department February 2021 On January 19, 2021,... -
Summary: Regulatory Alert 21-RA-01: CFPB Amends Ability-to-Repay/QM Rule under TILA
Regulatory Alert 21-RA-01 CFPB Amends Ability-to-Repay/QM Rule under TILA January 2021 The CFPB has issued 2 final rules amending the Ability-to-Repay/Qualified Mortgage Rule (ATR/QM Rule) in Regulation Z. Both final... -
Summary: Federal Banking Agencies Issue Joint Statement on Enforcement of Bank Secrecy Act/Anti-Money Laundering Requirements
Prepared by NASCUS Legislative & Regulatory Affairs Department September 2020 NCUA and the other federal banking agencies (FBAs) have issued a joint statement updating their guidance regarding how they evaluate... -
Summary: FinCEN Final Rule — BSA, CIP, BSA Programs, and Beneficial Owner Rules for PICUs
Prepared by NASCUS Legislative & Regulatory Affairs Department September 2020 FinCEN has issued a final rule applying BSA compliance program requirements to privately insured credit unions (PICUs) and other financial... -
Summary: Joint Statement on Additional Loan Accommodations Related to COVID-19
Joint Statement Summary Joint Statement on Additional Loan Accommodations Related to COVID-19 August 2020 The Federal Financial Institutions Examination Council (FFIEC) has issued a Joint Statement to provide prudent risk...