In the News
CFPB ‘Time-barred debt’ rule outlined
(Jan. 29, 2021) In addition to the three summaries of NCUA actions, NASCUS this week also posted a new summary of CFPB recent actions – this one on the bureau’s...
‘Experiment’ examines consumer priorities with debt, savings
(Jan. 29, 2021) Most consumers with savings would pay down some credit card debt but would also preserve a savings cushion rather than spend all of it retiring the balance,...
Principles for assessing financial stability efforts published
Principles for assessing the financial stability efforts of federal oversight bodies – by third parties and on their own behalf – were published in a report Thursday by the Government...
BRIEFLY: ‘Aggressive action’ on COVID-19 relief violations vowed; Call reports due by Sunday; VA has job positions open; Webinar looks at Treasury’s capital investment program
(Jan. 29, 2021) The new acting director of the CFPB said in a statement released Thursday that the bureau will be taking “aggressive action” in response to cases where financial...
Biden administration takes first steps In molding federal regulatory process
(Jan. 22, 2021) The new president’s administration was at work reworking the federal regulatory process on the same day that Joe Biden took the oath of office, issuing a “regulatory...
President outlines new regulatory review process
(Jan. 22, 2021) Producing a set of recommendations for improving and modernizing federal regulatory review was ordered by President Biden Wednesday, with an aim of ensuring “swift federal action,” according...
Agency 2021 priorities focus on impact of pandemic
(Jan. 22, 2021) Focusing on challenges to credit unions posed by the ongoing coronavirus pandemic and steps to enhance the agency’s offsite monitoring of credit unions’ condition are key priorities...
NCUA taps general counsel, board secretary
(Jan. 22, 2021) Veteran NCUA attorney Frank Kressman has had the “acting” moniker removed from his title as the agency late last week named him general counsel. He had been...
Agencies say MOU aimed at improving big CU consumer protection
(Jan. 22, 2021) Improving coordination between NCUA and the CFPB over the consumer protection supervision of credit unions with more than $10 billion in assets is the stated purpose of...
Kraninger resigns as Biden nominates successor
(Jan. 22, 2021) There was more change this week in Washington as Consumer Financial Protection Bureau Director Kathleen (“Kathy”) Kraninger resigned Wednesday, shortly after President Joe Biden took the oath...
Summary outlines final rule on debt collection practices
(Jan. 22, 2021) The latest summary from NASCUS focuses on the new rule from CFPB on debt collection practice, which revises Regulation F (which, in turn, implements the Fair Debt...
Smaller institutions exempted from HPML escrow accounts
(Jan. 22, 2021) An exemption from the requirement to establish escrow accounts for certain higher-priced mortgage loans (HPMLs) for smaller banks and credit unions was issued as a final rule...