The Regulatory Advocacy area keeps you informed of the latest proposed rules and regulations, their potential impact on credit unions, and provides comments to regulatory agencies to help shape regulations and lessen the compliance burden.
RISK-BASED CAPITAL - 2nd Proposal
The Leagues have launched an RBC2-dedicated webpage, containing the latest updates, analysis, and communications about how RBC2 may impact your credit union.
Click here to access the Leagues’ RBC2 webpage.
During CEO roundtable discussions this summer, it was decided we must take a proactive approach regarding likely rulemaking by the Consumer Financial Protection Bureau (CFPB) on overdraft programs. Initiating the first step the Leagues conducted a survey in December 2014 to obtain information about credit unions’ overdraft and courtesy pay programs.
In January, California and Nevada credit union leaders met with the CFPB Assistant Director of Financial Institutions Dan Smith to share the survey results with the bureau and discuss concerns regarding the possible regulation of overdraft plans by the CFPB.
Click here for more information about the overdraft survey and to access the survey results (accessible to League members only).
Integrated Mortgage Disclosures – Resources Available
Your League, CUNA, and the CFPB want to ensure you have the necessary information and resources to successfully implement the CFPB’s rule on Integrated Mortgage Disclosures under RESPA/TILA. The rule is effective Aug. 1, 2015.
In addition, we want to hear from you about any issues that may conflict with or impede implementation of the new disclosures, particularly after you have discussed implementation with your vendors and settlement service providers. Will they be ready?
Click here for information about the Integrated Mortgage Disclosures rule, the resources available to you, and a request for feedback.
An interactive online tool designed to empower credit unions to participate in the regulatory process.
PowerComment allows you to:
Educate yourself on proposed rules and regulations that affect your credit union and take the opportunity to comment! Visit www.powercomment.org to get started today.
|National Credit Union Administration||NCUA’s 2016 Regulatory Review||08/08/16|
|National Credit Union Administration||Community Development Revolving Loan Fund||08/22/16|
|Consumer Financial Protection Bureau||Arbitration||08/22/16|
|Consumer Financial Protection Bureau||Small Dollar and Other Covered Loans Proposed Rule||09/14/16|
|Consumer Financial Protection Bureau||RFI For Other Products for Small Dollar Rule||10/14/16|
The Leagues are hosting an exclusive meeting with CFPB officials to be held at 9 a.m. Thursday, July 28 in Sacramento. This is an excellent opportunity to explain the credit union difference to the CFPB and share your thoughts on any subject or rule, including the Bureau’s current proposed rule for payday lending. The CFPB believes they provided an exemption for the NCUA Payday Alternative Loans (PAL Loans), but the proposal adds new regulatory and compliance burdens on credit unions. The CFPB also has a proposed rule out that would prohibit class action waivers in arbitration agreements. Additional details regarding the Sacramento location to follow. Click here to register by July 27.