Links in “Agencies”
- TMAC Makes Its Debut
The first meeting of the Technical Mapping Advisory Council (TMAC) will be held September 30 and October 1, 2014. The council was established under the Biggert-Waters Flood Insurance Reform Act and the Homeowners Flood Insurance Affordability Act. Within the agenda for the meeting, a council chair will be elected, subcommittees will be organized, and subject matter experts will be identified. [9/17/14]
- Topic of the Day: Regulatory Burden
The regulatory burden on credit unions is the topic of three separate articles today. The first discusses Linda McFadden's testimony to the Senate Banking Committee why "enough is enough" regarding overregulation of credit unions. The second relates to the same hearing, but focuses on CUNA's testimony that will hopefully be "an important step toward preparing...bills for Senate consideration." The third features another testimony by CUNA, this time to the FHFA about how safety and soundness do not justify overregulation. [9/16/14]
- Fannie and Freddie Overstaying Their Welcome?
Tim Rood, chairman of The Collingwood Group, predicts that the legislation to change Fannie Mae and Freddie Mac won't be going through any time soon, partly due to the fact that 6% of the federal government's 2013 income came from these associations. Rood said, "I can't see anyone being really anxious to change that." [9/16/14]
- Proposal to Expand Complaint Database a “Solution in Search of a Problem”
Report says that on top of the overreach that the CFPB's proposed expansion of its consumer complaint database, superior consumer databases already exist, such as Yelp, which have commercial incentives to encourage accurate reviews and to provide a mix of reviews representative of consumers' actual experiences, not just a wall of complaints. [9/16/14]
- Get Out of My Checking Account, You Whippersnappers!
Monitoring for elder abuse is no laughing matter. Thankfully, the NCUA has released YouTube videos that can help keep no-good hooligans away from the accounts of our senior citizens. [9/16/14]
- So You Want to Start a Federal Credit Union?
The NCUA lays out five parts of the process in its new resource offering information on applying for a federal credit union charter. [9/16/14]
- Native American Settles with US Bank
US Bank learned the hard way that discrimination against Native Americans in lending doesnât pay. In fact, it resulted in paying $11,490 as part of a settlement. [9/16/14]
- Cordray to Talk Checking Account Screening
The CFPB will host a discussion on how screening for checking accounts functions and how this impacts consumers. [9/16/14]
- Vote: Points-and-Fees Fix
NAFCU backs a bill containing a points-and-fees fix which the House is set to vote on today. [9/15/14]
- Do Human Trafficking and Smuggling Leave a Trail of Financial Bread Crumbs?
Although many legitimate businesses might participate in such activities, a new FinCEN advisory lists potential "red flags" for credit unions to detect human trafficking or smuggling, such as the frequent exchange of small-denomination for larger-denomination bills by a customer who is not in a cash-intensive industry and multiple wire transfers (generally below $3,000 reporting threshold) sent from many different locations in the US to a common beneficiary in a city on the MexicanâUnited States border, among others. See also. [9/15/14]
