Links in “Agencies”

The NCUA’s payday alternative loans regulation has been amended to replace all references to “short-term, small amount loans” and “STS loans” with “payday alternative loans” and “PAL loans.” [10/6/14]

There are only 10 days left until NACHA’s webinar takes place. If you are interested in NACHA’s operations rules update, register now! [10/6/14]

Midland States Bancorp has settled with HUD over allegations of redlining in Missouri and Illinois neighborhoods. Though required to pay $200,000 to EHOC, the majority of the agreement deals with improved lending practices. [10/3/14]

Don't forget, call reports for third quarter 2014 must be received by the FDIC by October 30, 2014. The notice clearly states, "no extensions of time for submitting Call Report data are granted." [10/3/14]

Norristown, Pennsylvania, has settled with HUD regarding violations of the Fair Housing Act when the city enacted ordinances which, in effect, required the eviction of domestic violence victims. The specific agreement can be found here. [10/3/14]

H&R Block has agreed to help the CFPB in a pilot study related to tax-time saving. The CFPB wishes to educate consumers on the benefits of saving a portion of tax returns to improve long-term financial stability. [10/3/14]

As part of an anti-money laundering crackdown against drug cartels, FinCEN placed the Los Angeles Fashion District under a Geographic Targeting Order (GTO) requiring increased reporting and recordkeeping requirements for certain trades and businesses. [10/3/14]

For the 10-year period between 2002 and 2012, the OCC issued 157 appeal decisions, the FDIC issued 63, and the Federal Reserve Board issued 25, while the NCUA’s Supervisory Review Committee issued only six and sided with the examiners in all six cases. The professor who authored this recent study believes that the low number of appeals indicate that the NCUA appeals process is likely less understood and less functional than the process in place at other agencies. Or maybe credit unions just don’t feel that, given the track record, there is any point. [10/2/14]

According to former NCUA Chair Dennis Dollar, NCUA’s decision to issue a revised risk-based capital rule proposal indicates that the agency is indeed going to make significant revisions to the current proposed rule and that it was the right move to help ensure that the final rule addresses the safety and soundness concerns of both the industry and the regulator. [10/2/14]

The NCUA has resources for credit unions to use as we move into a new interest rate risk environment due to the strengthening economy. Don't let the new terrain trip you up! [10/2/14]