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NASCUS Releases Summary of NCUA “2nd Chance IRPS”
Recently, NCUA has finalized its revisions to the agency’s Interpretive Ruling and Policy Statement (IRPS) regarding statutory prohibitions imposed by § 205(d) of the Federal Credit Union Act (FCUA). Section...
NASCUS Summarizes NCUA’s Final Rule on Public Unit and Nonmember Deposits
NASCUS Legislative & Regulatory Affairs prepared a detailed summary of NCUA's Final Rule on Public Unit and Nonmember Deposits.
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...