News

NASCUS congratulates NCUA on the field of membership ruling

In a victory for NCUA and the credit union system, the District of Columbia Circuit Court of Appeals upheld virtually all aspects of NCUA’s Field of Membership Rule, overturning the lower district court which had struck down two provisions of the rule.

NASCUS Comments: ANPR on compensation for loans, lines of credit to members

NASCUS Comments: ANPR on compensation for loans, lines of credit to members June 24, 2019 Gerard Poliquin Secretary of the Board National Credit Union Administration 1775 Duke Street Alexandria, VA...

Summary Loans to Members

Summary: Part 701.21(c)(8) & § 741.203(a) Compensation in Connection with Loans to Members and Lines of Credit to Members Prepared by NASCUS Legislative & Regulatory Affairs DepartmentApril 2019 NCUA has issued an...

Judges rule CFPB independent, structure constitutional

A panel of federal appeals court judges has ruled that the structure of the Consumer Financial Protection Bureau (CFPB) is constitutional, overturning an earlier decision in the U.S. Court of...

Evidence sought on how/if consumer bureau is fulfilling ‘proper, appropriate functions’

A series of “requests for information” to determine if the Consumer Financial Protection Bureau (CFPB) is fulfilling its “proper and appropriate functions to best protect consumers” will be published in...

Trump puts end to rule on arbitration agreements

A congressional repeal of the rule banning use of arbitration agreements for most financial products was formally signed into law by President Donald Trump Wednesday, following a close vote in...

Merger proposal earns opposition for lack of deference to state law

Proposed changes to NCUA rules regarding voluntary mergers are opposed by NASCUS, primarily because of the proposal’s lack of deference to state law, the association for the state credit union...

Summary outlines comments due on home equity reporting (July 31)

Comments are due next week (Monday, July 31) about revised thresholds for reporting open-end lines of credit, proposed by the Consumer Financial Protection Bureau (CFPB), as noted in a summary...

Summary of OTR proposal points out four key changes

Four key changes to the methodology for determining the “overhead transfer rate” (OTR) of funds from the National Credit Union Share Insurance Fund (NCUSIF) to cover a percentage of the...

Summary gets to meat of appeals procedures proposal

Condensing 14, three-column Federal Register pages into essentially four typewritten pages, the NASCUS summary of NCUA’s recently proposed rule on its appeal procedures gets down to the meat of the proposal...

Summary outlines FHLB membership rules

A summary of final rules governing non-federally insured credit union membership in the Federal Home Loan Bank (FHLB) system, and outlining procedures for non-federally insured CUs to join, has been...

Merger proposal doesn’t (yet) include FISCUs

A rule aimed at enhancing transparency of mergers between federal credit unions – but that could be applied to mergers between federally insured, state chartered credit unions — was proposed...