Links in “Proposals, Requests, & Comments”

The NCUA has proposed that the revised risk-based capital rule be allowed to a new comment period due to its significant revisions. [9/30/14]

There have been loopholes in the Military Lending Act which has allowed lenders to abuse the system. The Department of Defense has proposed amendments which would better protect military families. [9/29/14]

Proposed rules would broaden the definition of consumer credit so more loans to servicemembers and their dependents would be subject to interest rate caps. [9/29/14]

NCUA Chair Debbie Matz, in response to a letter from Rep. George Holding, said that she is "fully committed to making changes and clarifications to the proposed rule, where warranted." Holding also questioned the NCUA's authority to make such a rule; others are vying for a second comment period. Where do you stand? [9/26/14]

A month remains on the public comment period for the Fed's proposal to repeal Regulation AA for banks. Although the repeal was required by the Dodd-Frank Act and the repeal is unlikely to change the banking industry in significant ways, comments are welcomed. [9/26/14]

Fulfilling a requirement of the Dodd-Frank Act to develop a consumer education program, the CFPB has created tools known collectively as Owning a Home. The CFPB now wishes to test the effectiveness of these tools through field study testing, but would like your comments before doing so. [9/26/14]

The proposed HMDA rule that calls for a significant increase in the amount and type of mortgage data that covered lenders will be required to report and the proposed expansion to the CFPB’s consumer complaint website mean that both the public and your regulatory agency will have much more information about your financial institution. Is that a good thing? [9/25/14]

Find out what the National Association of State Credit Union Supervisors has to say about the CFPB's proposal to expand the publicly available complaint data to include unstructured complaint narratives. Overall, NASCUS points out that potential complications and burdens may outweigh the expected benefits of the proposed change. [9/24/14]

The CFPB has amended its final rule regarding international money transfer markets and includes a definition of “larger participants” that are subject to the CFPB. [9/23/14]

The agencies are requesting comments on customer due diligence (FinCEN), fixed assets (NCUA), and Regulation C (CFPB). These comments are due during the month of October. [9/22/14]