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CFPB Request for Information Regarding Consumer Credit Card Market 

Summary re: CFPB Request for Information Regarding Consumer Credit Card Market  Docket No. CFPB-2023-0009 Section 502(a) of the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act or...

CFPB Circular 2023-01 – “Unlawful negative option marketing practices”

The Consumer Financial Protection Bureau issued a circular that asked if “persons” that engage in negative option marketing practices violate the prohibition on unfair, deceptive, or abusive acts or practices...

Letter to Credit Unions 23-CU-01: NCUA’s 2023 Supervisory Priorities

Letter to Credit Unions 23-CU-01 NCUA’s 2023 Supervisory Priorities NASCUS Legislative and Regulatory Affairs Department January 19, 2023 On January 18, the NCUA issued Letter to Credit Unions 23-CU-01 outlining...

Federal Reserve: Regulation D – Reserve Requirements of Depository Institutions

Final Rule Summary Federal Reserve: Regulation D – Reserve Requirements of Depository Institutions NASCUS Legislative and Regulatory Affairs Department January 17, 2023 The Board of Governors of the Federal Reserve...

FinCEN: Beneficial Ownership Information Access and Safeguards, and Use of FinCEN Identifiers for Entities

Notice of Proposed Rulemaking and Request for Comment FinCEN: Beneficial Ownership Information Access and Safeguards, and Use of FinCEN Identifiers for Entities NASCUS Legislative and Regulatory Affairs Department January 13,...

Federal Reserve/FDIC/OCC: Joint Statement on Crypto-Asset Risks to Banking Organizations

Federal Reserve/FDIC/OCC Joint Statement on Crypto-Asset Risks to Banking Organizations Summary January 8, 2023 The Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation...

NCUA Rules 701 AND 714: Financial Innovation: Loan Participations, Eligible Obligations, and Notes of Liquidating Credit Unions

NCUA Proposed Rulemaking Summary 2022-0185 NCUA Rules 701 AND 714: Financial Innovation: Loan Participations, Eligible Obligations, and Notes of Liquidating Credit Unions NASCUS Legislative and Regulatory Affairs Department January 6,...

Federally Insured Credit Union Use of Distributed Ledger Technologies

NCUA Letter to Credit Unions 22-CU-07: Federally Insured Credit Union Use of Distributed Ledger Technologies NCUA has issued LTCU 22-CU-07 to address the increased use of financial technology by credit...

Summary Guidance: Interagency Question and Answers Regarding Flood Insurance

Summary Guidance: Interagency Question and Answers Regarding Flood Insurance Prepared by NASCUS Legislative & Regulatory Affairs Department May 2022 NCUA, together with the OCC, Federal Reserve Board, the FDIC, and...

Equal Credit Opportunity Act (Reg. B) Revocations/Change of Terms

CFPB Summary: Advisory Opinion re: Equal Credit Opportunity Act (ECOA) Revocations/Change of Terms 12 CFR Part 1002 The Consumer Financial Protection Bureau (CFPB) issued an advisory opinion to affirm that...

2021 Exemption Thresholds Adjustments Under the Truth in Lending Act (Regulation Z) and the Consumer Leasing Act

Regulatory Alert 20-RA-09 2021 Exemption Thresholds Adjustments Under the Truth in Lending Act (Regulation Z) and the Consumer Leasing Act December 2020 NCUA’s Regulatory Alert notifies credit unions of the...

COVID-19 Fraud Schemes

NCUA Risk Alert: 20-Risk-02 COVID-19 Fraud Schemes August 2020 NCUA issued Risk Alert 20-RA-02 to inform credit unions about fraud risks associated with the COVID-19 pandemic. The economic dislocation resulting...