Links in “Proposals, Requests, & Comments”

That’s what NCUA Director of Examination and Insurance Larry Fazio said yesterday at a hearing before the House Financial Institutions and Consumer Credit Subcommittee. Fazio referenced a recent proposed rule to increase the asset limit for a “small” credit union from $50 million to $100 million and a final rule scheduled for review at the next board meeting that would simplify the process by which federal credit unions add groups to their fields of membership. [4/23/15]

CUNA is using its grass roots action network to call out the troops (CU employees, volunteers and members) to contact their Senators and urge support for the Data Security Act of 2015.  This bill would impose stronger security standards on merchants and mandate that merchants notify consumers when a breach has occurred. [4/23/15]

CUNA has reiterated in the comment letter it submitted to NCUA that RBC2 is unnecessary and should be withdrawn. CUNA asserts that NCUA has no legal authority to establish a two-tiered RBC structure, and that there is no evidence that had RBC2 been in place prior to the financial crisis that the losses would have been less. CUNA also offers additional recommendations for revisions to the proposed rule. [4/20/15]

Will RBC2 actually keep credit union assets safe? Or is the logic surrounding RBC2 somewhat flawed? These, and other questions, are being raised as the comment period for the RBC2 proposal draws near an end. [4/17/15]

Whether you were on spring break or you were just too busy, if you haven't been watching the CFPB like a hawk recently, you've probably missed some important news. Find out what has been developing recently in this summary of April CFPB actions. [4/15/15]

Due to recent updates to Regulation X (RESPA), the OCC has updated portions of its handbook to reflect the most recent regulatory standards. Take a look at the changes here. [4/15/15]

The ABA proposes a number of fixes the CFPB should make before it begins to publicly disclose complaint narratives, from establishing a process that would be able to identify whether a complaint is materially inaccurate and whether consumers will even glean any salient information to inform their financial decisions from redacted narratives and structured responses. [4/14/15]

The ABA tells CFPB that its idea of offering banks a selection of sterile, structured responses to impassioned public consumer complaints will suggest to the public indifference, and unfairly cast the industry as out of touch and unconcerned. [4/9/15]

The CFPB released a guide for policymakers seeking to improve the K-12 financial education model. The Guide offers tools, information, and insights on how to enhance K-12 financial education. Although the guide was written for policymakers, it is designed to benefit all individuals involved in financial education. [4/8/15]

A panel discussion in New York City featuring several CFPB representatives covered several noteworthy items. For one, the number of examiners in the CFPB's Office of Supervision has roughly doubled in the past year. [4/8/15]