Blog
- Subordinated Debt, Member Expulsion Proposal on NCUA’s Sept. 22 Agenda
September 15, 2022The NCUA board will vote on proposed rules on member expulsion and subordinated debt at its Sept. 22 meeting. The meeting is scheduled to begin at 10 a.m. and will be streamed live on NCUA.gov.
- CFPB's Chopra Vows Guidance on Buy-Now, Pay-Later Loans, Eyes Lender Examination
September 15, 2022The Consumer Financial Protection Bureau is identifying potential interpretive guidance or rules to regulate buy-now,
pay-later companies following a review of five major players, CFPB Director Rohit Chopra announced Sept. 15. The goal of the guidance is to ensure that buy-now, pay-later, or BNPL, companies adhere to many of the baseline protections that Congress has already established for credit cards, Chopra said upon releasing a detailed report. - NCUA Releases Simplified CECL Tool for Small Credit Unions
September 14, 2022The National Credit Union Administration (NCUA) issued a letter to credit unions (22-CU-10) today offering details on a tool to assist small credit unions with determining their allowance for credit losses (ACL) on loans and leases as required under Accounting Standards Codification Topic 326, Financial Instruments – Credit Losses, commonly referred to as Current Expected Credit Loss (CECL).
- NAFCU Caucus Coverage: NCUSIF Looks Good, Premium Assessment Unlikely
September 14, 2022One economist is predicting credit unions are unlikely to see any premiums assessed in the near future to fund the National Credit Union Share Insurance Fund, even as the nation’s banks aren’t able to say the same.
- Top Bank Regulator Outlines Plans for Oversight of Stablecoins, Climate Change Regulations
September 14, 2022Fed Governor Michael Barr, the Federal Reserve’s new banking regulator, has detailed a sweeping agenda in a speech that called for action on stablecoins, climate change preparations and both the safety and fairness of the finance industry.
- US Senator: 'Digital Assets Will Be as Big as the Internet'
September 14, 2022Cynthia Lummis, a Republican Senator from Wyoming, is one of the architects of a proposed piece of landmark legislation that promises to end the confusion over which cryptocurrencies are commodities and which are securities and create a regulatory framework for all digital assets.
- FHLBank System at 100: Focusing on the Future; Your Voice is Important
September 14, 2022FHLBank Atlanta encourages you to participate in person or through written comments, as you can speak most compellingly to the vital role, unique value, and broad community impact of the FHLBanks.
- CUs, League Make Case for ‘Credit Union Difference’ in Meeting with CFPB's Chopra; Note Impact of ‘One-Size-Fits-All’ Regulation, Ever-Evolving Regulatory Challenges
September 13, 2022In a meeting Monday with Consumer Financial Protection Bureau Director Rohit Chopra and Senior Policy Advisor (External Affairs) Charles Johanek, your League and leaders from 12 member credit unions discussed our regulatory priorities and how our ability to serve members is affected by an ever-evolving -- and challenging -- regulatory landscape.
- NCUA Preparing to Issue Guidance on Fintech Partnerships
September 13, 2022Similar to banking regulators, the National Credit Union Administration is concerned about the risks associated with financial technology companies. Speaking Monday at a conference held by NAFCU, NCUA board member and former Chairman Rodney Hood said the credit union regulator is developing a rule related to the integration of fintech.
- Appeals Court Rules in Favor of Credit Unions in FCDPA Lawsuit
September 12, 2022The 11th Circuit Court of Appeals vacated the plaintiff’s standing Thursday in Hunstein v. Preferred Collection and Management Services Inc., a Fair Debt Collection Practices Act (FDCPA) lawsuit. CUNA filed a brief stating that a ruling for the plaintiff would threaten the functioning of debt collectors, mortgage servicers, and the broader financial services industry.