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NCUA Notice of Proposed Rulemaking Summary: Chartering and Field of Membership
Notice of Proposed Rulemaking and Request for Comment NCUA: Chartering and Field of Membership NASCUS Legislative and Regulatory Affairs Department On February 28, 2023, the NCUA published a notice of...
Regulation Z Mortgage Loan Originator Rules Review Pursuant to the Regulatory Flexibility Act
Summary re: CFPB Review/Request for Comment: Regulation Z Mortgage Loan Originator Rules Review Pursuant to the Regulatory Flexibility Act 12 CFR Part 1026 The Consumer Financial Protection Bureau (CFPB) issued...
Letter to Credit Unions 23-CU-02: Expansion of Permissible CUSO Activities and Associated risks
NCUA Letter 23-CU-02 Summary Expansion of Permissible CUSO Activities and Associated risks NASCUS Legislative and Regulatory Affairs Department February 7, 2023 Summary On November 26, 2021, a final rule amending...
NCUA Risk Alert: 23-RA-01 Change to HMDA’s Closed-End Loan Reporting Threshold
NCUA Risk Alert: 23-RA-01 Change to HMDA’s Closed-End Loan Reporting Threshold NASCUS Legislative and Regulatory Affairs Department February 3, 2023 On February 2, 2023, the NCUA Board issued Risk Alert...
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...