SSA MERIT-BETA

Summary: U.S. Department of Treasury De-Risking Strategy Report

U.S. Department of Treasury De-Risking Strategy Report NASCUS Legislative and Regulatory Affairs Department May 31, 2023 Background Section 6215 of the Anti-Money Laundering Act of 2020 (AMLA) requires the Department...

U.S. Department of Treasury Illicit Finance Risk Assessment of Decentralized Finance

Summary U.S. Department of Treasury: Illicit Finance Risk Assessment of Decentralized Finance NASCUS Legislative and Regulatory Affairs Department May 31, 2023 Background On April 6, 2023, the US Department of...

Circular 2023-02: Reopening Previously Closed Deposit Accounts 

Summary of CFPB Circular 2023-02: Reopening Previously Closed Deposit Accounts May 2023 The Consumer Financial Protection Bureau (CFPB) issued Circular 2023-02 to make clear that financial institutions that unilaterally reopen...

CFPB Advisory Opinion re: Fair Debt Collection Practices Act and Time Barred Debts

Summary of CFPB Advisory Opinion re: Fair Debt Collection Practices Act and Time-Barred Debts 12 CFR Part 1006 The Consumer Financial Protection Bureau (CFPB) issued this advisory opinion to affirm...

CFPB Executive Summary of the Small Business Lending Rule

Summary re: CFPB Executive Summary of the Small Business Lending Rule Section 1071 of the Dodd-Frank Act amended the Equal Credit Opportunity Act (ECOA) to require financial institutions to compile...

CFPB Statement of Policy Regarding Prohibition on Abusive Acts or Practices 

Summary: CFPB Statement of Policy Regarding Prohibition on Abusive Acts or Practices  12 CFR Chapter X The Consumer Financial Protection Act (CFPA) prohibits any “covered person” or “service provider” from...

Summary of NCUA Letter 23-CU-04: Interagency Policy Statement on Allowances for Credit Losses

Summary of NCUA Letter 23-CU-04: Interagency Policy Statement on Allowances for Credit Losses (Revised April 2023) NASCUS Legislative and Regulatory Affairs Department April 25, 2023 The National Credit Union Administration,...

Final Rule Summary NCUA: Subordinated Debt

Final Rule Summary NCUA: Subordinated Debt NASCUS Legislative and Regulatory Affairs Department March 24, 2023 The NCUA Board has issued a final rule amending the Subordinated Debt Rule, which was finalized...

Request for Comment: 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...

Credit Card Penalty Fees Proposal

CFPB Summary re: Credit Card Penalty Fees Proposal 12 CFR Part 1026 The Consumer Financial Protection Bureau (CFPB) issues this proposal to amend Regulation Z, which implements the Truth in...

CFPB Compliance Bulletin and Policy Guidance 2023-01: Unfair Billing and Collection Practices After Bankruptcy Discharges of Certain Student Loan Debts

Summary – CFPB Compliance Bulletin and Policy Guidance 2023-01: Unfair Billing and Collection Practices After Bankruptcy Discharges of Certain Student Loan Debts 12 CFPB Chapter X The Consumer Financial Protection...

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...