News Archives
NCUA’s Harper: Large Credit Unions Will Report Overdraft Data
National Credit Union Administration Chairman Todd Harper said Tuesday in an interview at the Brookings Institute his agency will soon require credit unions with above $1 billion in assets to...
NCUA Releases Addendum to Other Supervisory Committee Audit Guide
The National Credit Union Administration today released an addendum to its Other Supervisory Committee Audit, Minimum Procedures Guide. Accounting Standard Codification No. 326 Financial Instruments—Credit Losses, referred to as Current...
CISA: Cybersecurity Best Practices
Overview Cyberspace is particularly difficult to secure due to a number of factors: the ability of malicious actors to operate from anywhere in the world, the linkages between cyberspace and...
The CFPB’s Enforcement Work In 2023 and What Lies Ahead
The CFPB safeguards household financial stability by ensuring that consumer financial markets are fair, transparent, and competitive. Our enforcement authority is among the CFPB’s most impactful tools—reinforcing compliance with federal...
RegFi Podcast: Bank-like Supervision for Big Tech? A Look at the CFPB’s “Larger Participant” Rule
The CFPB’s proposed rulemaking on digital wallets and payment apps would bring new regulatory supervision and compliance...
Bank Failure to Manage Climate Risks Poses Threat of Extinction
The European Central Bank has waned of the grave transition risks for banks that fail to prepare for a low carbon economy. In a blog post marking the publication of...
Jan. 26, 2024: CFPB Updates
PUBLISHED JAN 24, 2024 CFPB Issues Nonsufficient Funds Fees NPRM Today, the CFPB issued the Nonsufficient Funds Fees Notice of Proposed Rulemaking (NSF NPRM), which proposes to prohibit covered financial institutions...
NCUA Board Approves Annual Performance Plan; Briefed on DEIA Strategic Plan
Jan. 18, 2024 – The National Credit Union Administration Board held its first open meeting of 2024 and unanimously approved the agency’s 2024 Annual Performance Plan and received a briefing on the Diversity, Equity,...
Recent Congressional Activities
U.S. House of Representatives: Committee on Financial Services McHenry, Waters Announce Creation of Bipartisan AI Working Group January 11, 2024 U.S. House Committee on Financial Services Chair Patrick McHenry (NC-10) and...
CFPB Says Overdraft Fees Are Junk Fees — But Are They?
Labels are popular on Capitol Hill. And this week the labels are flying fast and furiously, aimed at big banks and credit unions. The Consumer Financial Protection Bureau (CFPB) put forth a...
Jan. 12, 2024: Recent CFPB Updates
Today, the Consumer Financial Protection Bureau (CFPB) issued guidance to consumer reporting companies to address inaccurate background check reports, as well as sloppy credit file sharing practices...
How Europe Is Dominating Tech Regulation
The Biden administration has signaled a crackdown on corporate America, but U.S. regulators’ teeth seem to be smaller and blunter than the dentition seen across the pond. Why it matters: For all...