CUSO

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...

Summary: Rules of Practice and Procedure

Joint Proposed Rule Summary: Rules of Practice and Procedure NASCUS Legislative and Regulatory Affairs Department | May 14, 2022 The NCUA, OCC, FDIC, and Federal Reserve have published a joint Notice...

Letter to Credit Unions 22-CU-06: NCUA to Begin Phase 2 of Resuming Onsite Operations

Letter to Credit Unions 22-CU-06: NCUA to Begin Phase 2 of Resuming Onsite Operations April 2022 Based on new guidance from the Centers for Disease Control and Prevention (CDC) and...

Letter to Credit Unions 22-FCU-02: Final Rule on Definition of Service Facility

Letter to Credit Unions 22-FCU-02: Final Rule on Definition of Service Facility March 2022 The final rule amending the definition of “service facility” for multiple common-bond FCUs became effective December 27,...

Summary: Federal Reserve Board Discussion Paper “Money and Payments: The U.S. Dollar in the Age of Digital Transformation”

Federal Reserve Board Issues Discussion Paper: “Money and Payments: The U.S. Dollar in the Age of Digital Transformation” January 2022 SUMMARY In January, the Federal Reserve Board (Fed) issued a...

NCUA Risk Alert: Heightened Risk of Social Engineering and Phishing Attacks

NCUA Risk Alert: 22-RISK-01 Heightened Risk of Social Engineering and Phishing Attack March 2022 The on-going conflict in Ukraine has raised concerns about potential cyberattacks in the U.S., including those...

Letter to Credit Unions: 22-CU-02 NCUA’s 2022 Supervisory Priorities

Letter to Credit Unions 22-CU-02 NCUA’s 2022 Supervisory Priorities January 2022 NCUA’s Letter to Credit Unions (LTCU) 22-CU-02 identifies the agency’s supervisory priorities for 2022, which include: Credit Risk Management...

Summary: Request for Information Regarding Fees Imposed by Providers of Consumer Financial Products/Services

CFPB 2022-0003: Request for Information Regarding Fees Imposed by Providers of Consumer Financial Products/Services The Consumer Financial Protection Bureau (CFPB) is seeking comments from the public related to fees that...

Letter to Credit Unions: Submission for 2021 Voluntary Credit Union Diversity Self-Assessment Extended to January 31, 2022

LTCU: (22-CU-01): Submission for 2021 Voluntary Credit Union Diversity Self-Assessment Extended to January 31, 2022  January 2022 NCUA’s LTCU was issued to extend the deadline for credit unions to submit the...

Letter to Credit Unions: Relationships with Third Parties that Provide Services Related to Digital Assets

LTCU: (21-CU-16) Relationships with Third Parties that Provide Services Related to Digital Assets December 2021 NCUA’s LTCU was issued to provide clarity about the already existing authority of federally insured credit...

2022 Truth in Lending (Regulation Z) Annual Threshold Adjustments (Credit Cards, HOEPA, and Qualified Mortgages)

21-RA-10 2022 Truth in Lending (Regulation Z) Annual Threshold Adjustments (Credit Cards, HOEPA, and Qualified Mortgages) December 2021 The  CFPB has published its Truth in Lending (Regulation Z) Annual Threshold...