News

Summary targets information request on small biz lending

Comments regarding the small business lending market, in response to the CFPB’s recent “request for information,” are due July 14, according to a new summary posted by NASCUS. Earlier this...

Advisory council of federally insured CUs for NCUA supported

An advisory council of federally insured credit unions intended to provide NCUA with advice and guidance about issues related to credit union federal share insurance regulation and supervision is supported...

Summary outlines CFPB credit card market inquiry

Up to 13 different areas of comment are being sought by the CFPB as the agency seeks comment about the credit card marketplace, according to a new NASCUS summary. Comments...

Conversions to states resume in first two months of ‘17

Conversions of federally chartered credit unions to state charters is continuing in 2017, with larger credit unions converting to the state charter, resuming a four-year trend going back to 2012 (but...

NASCUS: 6-month delay for CFPB pre-paid rule

A six-month delay of the effective date of the CFPB’s final rule on pre-paid accounts, to April 1, 2018, is supported by the state credit union system because it will...

Governors’ cite risks to states in changing marijuana guidance

Any changes to “regulatory and enforcement systems” for marijuana by the federal government should be preceded by engagement with their states, four western governors have recommended to U.S. Attorney General...

Summary outlines CFPB remittance rule assessment

A summary of CFPB’s call for comments on the effectiveness of the bureau’s rule on remittances has been prepared and posted by NASCUS, noting six areas in which comments are...

Report notes NCUA plans for RBNW rule, sup. capital

NCUA intends to substantially revise the risk-based net worth rule and permit credit unions to issue supplemental capital for risk-based net worth purposes, according to comments by agency Acting Chairman...

Letter repeats support for state regulator on NCUA Board

An NCUA board with five seats – one of which is designated for a person with state credit union regulatory experience – contained in financial regulation reform legislation in the...

Supplemental capital proposal outlined in wide-ranging summary

Although it is titled a “summary,” NASCUS has developed a comprehensive look at the “alternative capital” proposal issued by the NCUA Board at its January meeting; this rule is out...

CO CU receives ‘conditionally’ granted Fed master account

A Colorado credit union chartered to offer financial services to marijuana-related groups was “conditionally” granted a “master account” by the Federal Reserve last week, essentially opening the door – at...