News stories tagged 2023
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July 28: CFPB Updates This Week
PUBLISHED JUL 27, 2023 Financial struggles in Puerto Rico bite deeper than the rest of the United States Our research shows that people in Puerto Rico have lower financial well-being compared...
NCUA Board Approves Final Member Expulsion Rule
Midsession Budget Reprograms Funds for Mission Critical Priorities July 20, 2023 – The National Credit Union Administration Board held its seventh open meeting of 2023 and approved a final rule on...
July 21: CFPB Updates This Week
PUBLISHED JUL 20, 2023 CFPB Report Shows Workers Face Risks from Employer-Driven Debt The Consumer Financial Protection Bureau (CFPB) published a report highlighting the risks employer-driven debt poses to workers....
A Return To “Normal” Debt – Financially Vulnerable Left Behind
The economy has been through the wringer for the past few years. Skyrocketing inflation in the wake of the COVID-19 pandemic brought with it a series of rapid rate rises...
June 30: CFPB Updates This Week
PUBLISHED JUN 29, 2023 The CFPB’s 2022 Fair Lending Annual Report to Congress The CFPB released its Fair Lending Annual Report to Congress , describing our fair lending activities in enforcement and...
June 23: CFPB Updates This Week
June 28th Webinar CFPB RegCast: Institutional Coverage under the Small Business Lending Rule Wednesday, June 28, 2023, 11:00 AM – 12:00 PM EST Bureau staff will provide information to help...
June 16: CFPB Updates This Week
The CFPB intends to identify ways to simplify and streamline the existing mortgage servicing rules By Rohit Chopra Borrowing to buy a home is one of the biggest financial decisions...
NCUA Releases Q1 2023 State-Level Credit Union Data Report
For federally insured credit unions, median asset growth and growth in shares and deposits declined slightly over the year ending in the first quarter of 2023. At the same time,...
U.S. House of Representatives Presses FinCEN on Status of CTA Roll-Out
The Corporate Transparency Act (“CTA”) takes effect on January 1, 2024. On that date, the Financial Crimes Enforcement Network (“FinCEN”) needs to have implemented a working data base to accept...
OPINION: The Overdraft Landscape Is in Transition
One of my biggest pet peeves in all of finance is the overdraft fee. I first wrote in 2019 that we were moving to a world of no overdraft fees. This was...
June 9: CFPB Updates This Week
PUBLISHED JUN 08, 2023 Agencies Propose Interagency Guidance on Reconsiderations of Value for Residential Real Estate Valuations Five federal regulatory agencies today requested public comment on proposed guidance addressing reconsiderations of...
Ireland’s CUs in Co-Lending Project
DUBLIN, Ireland–Social enterprise funder Community Finance Ireland (CFI) has announced plans to collaborate with this country’s credit unions on a co-lending project to help enhance lending to charities and sporting...