CU Times covers the NCUA, CUNA, NAFCU, CFPB as well as Congress to keep credit union executives up-to-date on regulatory and compliance changes coming out of Washington, D.C.
The Credit Union Regulatory Improvements Act (H.R. 1537) has continued to gain legislative co-sponsors at warp speed in its first few months in the 110th Congress, which NAFCU says is a credit to credit union officials pounding the pavement.
House Financial Services Committee Ranking Member Spencer Bachus (R-Ala.) and other leading Republicans on the committee announced the introduction of a bill today aimed to curb unscrupulous lending practices.
USA Federal Credit Union President/CEO Mary Cunningham told the House Subcommittee on Financial Institutions and Consumer Credit today that credit unions' are already operating within the spirit of Carolyn Maloney's (D-N.Y.) overdraft legislation.
After a bit of catch-up, NCUA is now generally viewed as "on par" with the other banking regulators regarding Bank Secrecy Act examination and credit unions' need to be ready for it, including how to respond if they are hit with a violation.