News

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...

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...