Dec. 3, 2021 NASCUS Report

THIS WEEK: CFPB looking closely at overdraft fees, competition; Alert reminds of Reg Z adjustments; Summary looks at ‘big tech’ inquiry; New parts of BSA/AML manual published; New Fed ,CFPB fee schedules ahead; AROUND THE STATES: Texas latest reaccreditation; NCUA writes for permanent CLF fixes; BRIEFLY: AZ/CO/WY league leader to step down; Interest-rate risk concerns ahead? New debt collection rules in force; NASCUS 101 next week; Welcome new member Michigan State U. FCU

Bureau takes new aim at overdraft fees, vowing to restore ‘meaningful competition’

(Dec. 3, 2021) Action to “restore meaningful competition” to the overdraft fee market was vowed this week by the CFPB, which noted that both small and large financial institutions “heavily…

Alert reminds: Reg Z threshold adjustments take effect Jan. 1

(Dec. 3, 2021) A regulatory alert on Truth in Lending (Regulation Z) annual threshold adjustments for various loans – which take effect Jan. 1 — was issued this week by…

Summary looks at ‘big tech’ inquiry by CFPB

(Dec. 3, 2021) CFPB’s inquiry into “big tech” payment platforms is the topic of the latest summary to be published by NASCUS, just this week. Like all summaries, it is…

New section of BSA/AML exam manual released

(Dec. 3, 2021) One new section – focusing on assessments of money laundering practices — and updates to three existing parts of the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual…

Fed, CFPB set new fee schedules for 2022

(Dec. 3, 2021) Fees – both mandatory and maximum allowable — are on the increase for 2022 under actions taken this week by the CFPB and the Federal Reserve. A…

AROUND THE STATES: Texas latest to be reaccredited

(Dec. 3, 2021) The latest state supervsor to earn reaccreditation from NASCUS is the Texas Credit Union Department, following the series of in-depth reviews and assessments by a panel of…

NCUA leaders want permanent CLF fixes

(Dec. 3, 2021) Congress should make permanent temporary enhancements to the fund that backs up credit union liquidity, which were made in response to the coronavirus crisis, the three members…

BRIEFLY: Earl announces retirement as leader of three-state league; Inflation raises interest-rate risk concern; New debt collections rules now in force; NASCUS 101 next week; Welcome new member Michigan State U. FCU

(Dec. 3, 2021) Mountain West Credit Union Association President and CEO Scott Earl announced his retirement this week, saying he will step down at the end of June next year….

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