La Pine speaks out on need to repeal Durbin Amendment

LSCU president/CEO Patrick La Pine’s recent article published in Florida Politics on the Durbin Amendment and why the amendment should be repealed has gotten the attention of media outlets in the industry. Highlights from his comments include: Six years ago, the financial world experienced the reorganization of Wall Street and a last-minute addition of the […]

Credit unions join in letter to CFPB for reconsideration of response

The Consumer Financial Protection Bureau’s (CFPB) rejection of a bipartisan call for regulatory relief is troubling, and the bureau has been strongly encouraged by CUNA and all 37 credit union leagues, including LSCU, to reconsider this move. A letter was sent this week representing all 50 states and the District of Columbia on Wednesday to CFPB […]

Presidential election: What credit unions might expect

The U.S. presidential election is on the horizon, and cooperatives have concerns about what the future holds for their members.  In response to these concerns, CUNA has launched a campaign that stresses the role of credit unions in empowering the country’s middle class. The online platform, middleclass2016.com, encourages people to sign a petition to call on the two […]

Preview of proposed changes to CFPB’s TRID rule

The Consumer Financial Protection Bureau (CFPB) recently decided to revisit the TILA-RESPA Integrated Disclosure rule (TRID), also known as “Know Before You Owe.” League sources have provided a summary of proposed changes to the rule that may be useful to credit union lending and compliance staff. The CFPB is requesting comments by Oct. 18, 2016. […]

CFPB hearing focuses on debt collection for now

CFPB unveiled a proposed rule on debt collection yesterday at the Consumer Financial Protection Bureau (CFPB) field hearing in Sacramento, CA. The 117-page proposal, released a day early, impacts collection agencies, debt buyers, collection law firms, and loan servicers. At this time, credit unions were not impacted by this proposal. The agency said it plans […]