Links in “Agencies”

The FTC handed down another ruling against a Houston-based debt collection agency that used deceptive tactics to bully English and Spanish-speaking consumers into paying debts. The agency used false and deceptive methods to collect more than $1.3 million in what they called “convenience fees” and “transaction fees” from consumers who authorized payments over the phone. [6/26/14]

HUD Utah-based Mountain American Credit Union will settle for $25,000 based on allegations of discrimination against prospective borrowers on maternity leave, breaching the Fair Housing Act’s prohibition against sex and familial status discrimination. [6/26/14]

Speaking to the Massachusetts Credit Union League, Metsger declared his support for H.R. 719, the Capital Access for Small Businesses and Jobs Act, which would allow credit unions without a low-income designation to access supplemental capital. [6/26/14]

A recent OCC report notes an intensifying competition for limited lending opportunities resulting in loosening underwriting standards. The report also noted the growing challenges associated with the evolving cyber-threats and risks associated with BSA due to rapidly changing money-laundering methods. [6/26/14]

The changes would increase the number of risk-weighted categories as part of Schedule RC-R, Part II. Additionally, the revision includes greater detail on loans and new items for reporting securitization exposures under the standardized approach. [6/26/14]

The Federal Housing Finance Agency is proposing to amend its regulation on minority and women inclusion by requiring the Federal Home Loan Banks and the Office of Finance to include in the contents of their annual reports certain demographic information related to their boards of directors as well as a description of their related activities during the reporting year. [6/25/14]

The Federal Financial Institutions Examination Council (FFIEC) today launched a web page on cybersecurity. The page is a central repository for current and future FFIEC-related materials on cybersecurity. The FFIEC Web page provides links to joint statements, webinars, and other information that may help financial institutions when thinking about the issue of cybersecurity. [6/25/14]

The growing use of mobile applications and the rewards and risks associated with their usage will be discussed during a free webinar, “Mobile Applications – The Next Step” hosted by the National Credit Union Administration on Wednesday, July 9, 2014, at 2 p.m. Eastern. [6/24/2014]

In response to an article published on June 6th, Bill Hampel, Interim CUNA President/CEO, penned a letter to the editor of the Wall Street Journal that was published on Saturday in which he takes issues with the article’s characterization that credit unions face increasing exposure to interest rate risk. Hampel remarks that credit unions' exposure to long-term risk is well-managed and points out that long-term CU assets comprise only 35% of total CU assets. [6/23/14]

The NCUA has launched a new web resource page for credit unions to use to better understand and prepare for changes in interest rates and the risk those changes present. NCUA Board Chairman Debbie Matz stated, "we are in a very unusual rate environment," and goes on to explain the need for such resources in today's world. The new webpage includes videos, charts,  and applicable links to regulations, interagency guidance, best practice resources, and more. [6/23/14]