21oct01 – NASCUS

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BRIEFLY: Chopra confirmed as CFPB director; Ito on diversity panel

(Oct. 1, 2021) Rohit Chopra is now the permanent director of the CFPB, with a five-year term, thanks to a 50-48 vote by the Senate on Thursday. He took a...

CUs on notice: start submitting card data to CFPB

(Oct. 1, 2021) Credit unions may begin submitting data on credit card agreements with their members, and applying data submission requirements, to the CFPB’s website for collecting credit card information,...

A five-member NCUA Board? Maybe; Harper outlines up, downsides in hearing

(Oct. 1, 2021) While not outright supporting the idea of an expanded NCUA Board membership, the chairman of the current board noted that there are some upsides to the idea...

Expiring homeowner protections outlined in letter

(Oct. 1, 2021) “Critical information” for compliance with expiring pandemic-era protection programs for homeowners are addressed in a letter to credit unions from NCUA this week. The letter (LTCU 21-CU-09),...

3rd party exam authority, climate change addressed

(Oct. 1, 2021) Other key moments of the Harper nomination hearing included: Harper again endorsed third-party vendor exam authority for NCUA (which would require a statutory change). “Bank regulators have...

Inaugural ‘CURE’ event covers key issues

(Oct. 1, 2021) Payments systems, digital currencies, transition by large credit unions to specialized oversight by NCUA, the evolution of mortgage servicing in the wake of the Great Recession, and...

Ito: Expanded board needs state experience

(Oct. 1, 2021) Noting Harper’s comments about changes to the NCUA Board, NASCUS President and CEO said mandating that at least one board member have state credit union regulatory experience...

Take a breather: More time to comment on digital assets

(Oct. 1, 2021) More time – 30 days – is allowed for comments on NCUA’s request for information (RFI) about the impact of activities connected to digital assets and related...