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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.
Like the updates made to Major League Baseball, it's time for Congress to update notarization laws.
Credit unions are already operating with lean teams, making the clear choice to buy.
No matter the size of your credit union, these are regulatory areas worth watching.
Eligible credit unions can apply for $3.5 million in grant money to serve the underserved.
CFPB-issued statement describes how it enforces the 2010 law prohibiting "abusive practices" against consumers.
The ECOA does not, on its face, extend to activities that could discourage people from applying for a loan in the first place.
For CUs that can't make a good loan to a subprime borrower under the 18% ceiling, charging more is not the answer.
The NCUA says the consolidation was in the best interests of RCEFCU members.
The federal agency also lifts a cease and desist order against a Michigan credit union.
"I want to do SAFE Banking. But this is clearly more important."