Links in “Proposals, Requests, & Comments”
- Clarifying Amendments Proposed for Regs. B, X, and Z
CFPB's proposed amendments to Reg. B, Reg. X and Reg. Z address mortgage loan servicing, loan originator compensation, fee thresholds for high rate/high fee mortgages and qualified mortgages, exemptions for certain creditors, prohibition on creditor-financed credit insurance, and effective dates for certain provisions. [7/2]
- Bill Could Provide Relief for Federal Credit Unions
A new House bill, sponsored by Rep. Gary Miller, addresses among other issues: new investment authorities; capital requirements; and insurance coverage for trust accounts. [7/1]
- Bill Introduced to Provide Regulatory Relief for CUs
Among the bills 5 points are provisions that would allow NCUA to grant federal credit unions a waiver to follow a state rule instead of a federal one; authorize NCUA to step in to modify a CFPB rule affecting credit unions; and require that NCUA and CFPB revisit cost/benefit analyses of rules after three years so they have a true sense of the compliance costs for credit unions. [7/1]
- Ready, Go, Set: CFPB Issues Proposals to Revise Final Mortgage Rules
Issues 171-page proposal intended to ease implementation of the final mortgage rules, but is yet another proposal to a series of final rules that already have been through the proposal process and already have an effective compliance date. [6/26]
- Death of Fannie & Freddie Proposed
Will logic prevail or will the future be business as usual? The argument begins. [6/25]
- Field of Membership Expansion for NY State-Chartered CUs
A bill on governorâs desk will allow NY state-chartered CUs to add select employees groups, associations, and communities to their fields of membership, regardless of their charter designation; currently, state-chartered CUs in NY must choose one type of charter based on SEGs, associations or communities. [6/24]
- Controversial Final Rule on Loan Participations Added to NCUA Board Agenda
NCUA adds a final rule on loan participations to its June 20 agenda; proposed rule is controversial and credit union trade associations had urged the agency to withdraw it, but the agency seems intent with moving forward with further restrictions to CUs' ability to participate in loan participations. [6/19]
- Comprehensive Reg Relief May Be on the Horizon
House to consider a comprehensive regulatory relief bill in the next few weeks; committee members looking for areas where the interests of credit unions and community banks may coincide. [6/4]
- Proposed FASB Rule Could Affect CU’s Safety & Soundness
Proposed rule would change how credit unions calculate their Allowance for Loan and Lease Accounts (ALLL), requiring losses to be recognized before they actually occur. [6/3]
- Fall Out Begins from $6B Money Laundering Case
Proposed rule, impacting about 5,000 banks, seeks to cut off Liberty Reserve from the U.S. banking system. [5/29]
