McWatters letter requests burden reduction from CFPB director

Yesterday, NCUA Chairman J. Mark McWatters wrote a letter to embattled CFPB Director Richard Cordray in regard to credit union compliance with CFPB rules specifically in regard to the Home Mortgage Disclosure Act (HMDA), as well as the Unfair, Deceptive and Abusive Acts or Practices (UDAAP) requirements of the Dodd-Frank Wall Street Reform and Consumer […]

LSCU sources report possible reg relief changes

Sources close to the LSCU reported positive news from Washington, D.C., yesterday. Treasury Secretary Mnuchin told the Senate Banking Committee today that he is likely to recommend that financial institutions under $10 billion in assets be exempted from certain supervisory requirements under the 2010 Dodd-Frank law. Following the hearing, committee staff said it was their […]

Take action today to save the CDFIF

For credit unions supporting the Community Development Financial Institutions Fund (CDFIF), it’s time to take action to protect the program. The federal government is operating under a continuing resolution that expires on April 28, and President Donald Trump’s new budget proposes to eliminate federal funding for the CDFI Fund. CDFIs finance community development initiatives, including […]