Links in “Agencies”
- Extra, Extra, Read All About It!
The NCUA has published the July edition of its report. This latest edition covers key issues that credit unions should be aware of. [7/23/14]
- Why the CFPB’s Complaint Narratives Would Be Worse Than Yelp
The CFPB's proposal to invite consumer complaint narratives in its public database would subject financial institutions to reputational risk. Unlike the popular rating app Yelp, the database will not include favorable consumer experiences. [7/23/14]
- FinCEN Raises an Eyebrow at FBME
FinCEN issues a notice of proposed rulemaking on FBME (Federal Bank of the Middle East) citing money laundering concerns as its primary issue. [7/22/14]
- Four Years Later: Wall Street Is Finally Looking Out for Main Street
Secretary Lew comments on the four-year anniversary of the Dodd-Frank Wall Street Reform Act. Among the six successes he cites is the creation of the CFPB which is "committed to making financial services and products work better for Americans." [7/22/14]
- CFPB’s Got 99 Problems and Prepaid Cards Are One of Them
The CFPB is now accepting complaints regarding prepaid cards. This is done in an effort to give the people a "greater voice in these markets," according to CFPB director Richard Cordray. [7/22/14]
- CFPB’s Complaint Database Blowing Up
CFPB's complaint database is rapidly expanding to include prepaid cards, debt settlement services, credit repair services and pawn and title loans. [7/22/14]
- Operation Choke Point May Be Choked Out
A bill is being considered which would end Operation Choke Point. However, given the controversy this issue has received we can expect to see more debates in the near future. [7/21/14]
- Remove a Regulation? Yes, Please!
The FDIC proposes the removal of regulations regarding electronic operations located in the Dodd-Frank Act. [7/21/14]
- MDI: Making a Definite Impact
The FDIC released a study today on minority depository institutions (MDIs). The study takes a look at MDI structure, performance and social impact. [7/21/14]
- Matz Claims Proposed RBC Rule Would Have Saved NCUSIF $180 Million
In a letter to the House Financial Oversight Committee, NCUA Chair, Debbie Matz, claims that if the proposed risk-based capital rule had been in effect in 2007, it would have saved the NCUA Share Insurance Fund (NCUSIF) as much as $180 million. Matz added that the reason that some of the risk weightings are different in the proposed rule versus the FDIC rule is that the FDIC rule does not take into consideration concentration risk. [7/21/14]
