Uncategorized Archives

NASCUS members join CFPB Credit Union Advisory Council

CFPB Director Kathy Kraninger  announced the appointment of members to the Credit Union Advisory Council (CUAC). Among the appointees are NASCUS members Teresa Campbell, President & CEO, San Diego County Credit Union and Brian Holst, General Counsel, Elevations Credit Union.

House Passes SAFE Act

The House of Representatives passed the Secure and Fair Enforcement Banking Act (SAFE Act), which would provide some protections to credit unions and other financial institutions that serve state-authorized cannabis related businesses. 

NASCUS Comments: ANPR on compensation for loans, lines of credit to members

NASCUS Comments: ANPR on compensation for loans, lines of credit to members June 24, 2019 Gerard Poliquin Secretary of the Board National Credit Union Administration 1775 Duke Street Alexandria, VA...

Summary Loans to Members

Summary: Part 701.21(c)(8) & § 741.203(a) Compensation in Connection with Loans to Members and Lines of Credit to Members Prepared by NASCUS Legislative & Regulatory Affairs Department April 2019 NCUA has issued...

March 15, 2019 NASCUS Report

At GAC, state system out in force with meetings, greetings — and top issues Lawmakers, federal regulators, credit union trade groups, credit union industry groups and more were all in...

Judges rule CFPB independent, structure constitutional

A panel of federal appeals court judges has ruled that the structure of the Consumer Financial Protection Bureau (CFPB) is constitutional, overturning an earlier decision in the U.S. Court of...

Evidence sought on how/if consumer bureau is fulfilling ‘proper, appropriate functions’

A series of “requests for information” to determine if the Consumer Financial Protection Bureau (CFPB) is fulfilling its “proper and appropriate functions to best protect consumers” will be published in...

Trump puts end to rule on arbitration agreements

A congressional repeal of the rule banning use of arbitration agreements for most financial products was formally signed into law by President Donald Trump Wednesday, following a close vote in...

Merger proposal earns opposition for lack of deference to state law

Proposed changes to NCUA rules regarding voluntary mergers are opposed by NASCUS, primarily because of the proposal’s lack of deference to state law, the association for the state credit union...

Summary outlines comments due on home equity reporting (July 31)

Comments are due next week (Monday, July 31) about revised thresholds for reporting open-end lines of credit, proposed by the Consumer Financial Protection Bureau (CFPB), as noted in a summary...

Summary of OTR proposal points out four key changes

Four key changes to the methodology for determining the “overhead transfer rate” (OTR) of funds from the National Credit Union Share Insurance Fund (NCUSIF) to cover a percentage of the...