CFPB sets agenda for 2017 rulemaking

League sources report that the Consumer Financial Protection Bureau has finalized its agenda for 2017. Among items of note, the Bureau issued a Notice of Proposed Rulemaking (NPRM) in May 2016 concerning the use of arbitration clauses in consumer financial agreements. The comment period for the NPRM ended on Aug. 22, 2016. The bureau is […]

Modernized occupancy rule provides regulatory relief

The National Credit Union Administration Board held its 11th open meeting of 2016 at the agency’s headquarters recently and unanimously approved items, including a final rule providing regulatory relief to federal credit unions by eliminating the full occupancy requirement in the current occupancy rule and an interim final rule amending the agency’s Freedom of Information […]

CFPB releases report ‘Who are the credit invisibles?’

In May 2015, the CFPB issued a report, “Data Point: Credit Invisibles,” that documented the results of a research project it conducted to better understand the demographic characteristics of consumers without traditional credit reports or credit scores. The report concluded that the current credit reporting system is skewed toward certain populations and prevents them from […]

GTE named Tampa Bay Business Journal Benefactor of Year

GTE Financial Credit Union was recently awarded Tampa Bay Business Journal’s 2016 Corporate Philanthropy Award in its category, as well as the publication’s highest honor, the Benefactor of the Year award. According to GTE Financial, the credit union contributed more than $636,000 to nonprofits and charities last year, along with more than $51,000 in in-kind […]

FBI operation targets cyberattack for hire schemes

According to cybercrime expert Brian Krebs, “Federal investigators in the United States and Europe last week arrested nearly three-dozen people suspected of patronizing so-called ‘booter’ services that can be hired to knock targeted Web sites offline. The global crackdown is part of an effort by authorities to weaken demand for these services by impressing upon […]

Tax reform may occur sooner than expected in 2017

League sources reported that at his year-end press conference yesterday, Senate Majority Leader Mitch McConnell, (R-KY) reiterated that Republicans intend to use reconciliation to move tax reform legislation in 2017 sooner than later. McConnell said that “we plan to move two budgets next year, so we can twice use reconciliation — one to repeal the […]