NASCUS Report Archives
CFPB urges stimulus to reach consumers
(March 19, 2021) Saying it is concerned that some payments will be intercepted to cover such things as unpaid overdraft fees, the CFPB this week encouraged financial institutions (including credit...
Pierre Jay Awards conferred April 22; join in!
(March 19, 2021) Mark your calendars for the April 22 Pierre Jay Awards 2021 virtual presentation ceremony, getting underway at 2 p.m. ET. There is no charge for attending the...
BRIEFLY: NASCUS leader joins AACUC Friday confab
(March 19, 2021) NASCUS’ Lucy Ito participates today in an online “Friday Conversation” about the “Commitment to Change” in credit unions united against racism. The event is hosted by the...
Letter seeks clear communications on rules for state charters
(March 12, 2021) Clear communication to federally insured state credit unions (FISCUs) of which regulations do and do not apply to them – and also providing a clear chain of...
Summaries outline corporate sub debt, joint ownership rules
(March 12, 2021) Two new summaries of final rules on corporate credit union purchase of subordinated debt, and on joint ownership share accounts, were posted by NASCUS this week. Both...
Board to consider final rules on CLF, asset thresholds
(March 12, 2021) Two interim final rules – one on the agency’s Central Liquidity Facility, the other on asset thresholds pertaining to large credit unions – are slated for action...
Alert explains requirements for HPML escrow exemptions
(March 12, 2021) Requirements for exemptions for some credit unions from establishing escrow accounts for certain high-priced mortgage loans (HPMLs) are outlined in a “regulatory alert” sent Wednesday from NCUA....
Comment periods finally open on two proposals
(March 12, 2021) After a delay of nearly two months since approval, two proposals from NCUA – on simplifying rules for risk-based capital and on adding an “S” to the...
Bureau: ECOA prohibits sexual orientation/gender discrimination
(March 12, 2021) Sexual orientation discrimination and gender identity discrimination is prohibited under equal credit opportunity regulations, CFPB said this week in an interpretive rule. Further, the subhead for the...
Delay in QM rule examined in summary
(March 12, 2021) NASCUS also this week published a summary of CFPB’s proposal to delay the general “qualified mortgage” loan proposal, which would push the mandatory compliance date back by...
Officers named to CU Advisory Council (and more)
(March 12, 2021) Two officers were named this week to the NASCUS Credit Union Advisory Council (CUAC), which represents the credit union members of the association in leadership. Mike Ryan,...
BRIEFLY: Bureau rescinds ‘abusiveness’ policy; Liang tapped for Treasury post; Chopra nomination advances despite tie vote; Q&A proposed on private flood insurance
(March 12, 2021) A policy unveiled early last year by CFPB that limited the extent of the agency’s response to certain abusive acts or practices affecting consumers was rescinded Thursday,...