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  • NAFCU, CUNA unite against bankers over MBL lawsuit (Friday, September 30, 2016)
    NAFCU and CUNA announced Thursday that they are joining forces in their commitment to protect credit unions' interests by challenging a lawsuit recently filed by the Independent Community Bankers of America against NCUA over its member business lending rule.
  • CFPB study: Incentives increase savings (Friday, September 30, 2016)
    A CFPB study released Thursday found that offering a small incentive to prepaid card users to put some of their money into a savings "wallet" doubled use of the wallet. The study was part of the bureau's Project Catalyst research initiative.
  • NAFCU sees reputational risk in CFPB complaint database updates (Friday, September 30, 2016)
    NAFCU's Andrew Morris told CFPB Thursday that its proposed Consumer Complaint Database response survey is likely to confuse efforts at complaint resolution and would weaken the effectiveness of financial institution examinations.
  • 2Q economic growth hits 1.4%, above estimate (Friday, September 30, 2016)
    The U.S. economy grew at a slightly faster pace during the second quarter than previously thought, according to the Commerce Department's final estimate, hitting 1.4 percent growth compared to the previous estimate of 1.1 percent.
  • Lawmakers decry Wells' impact on CUs, other FIs (Friday, September 30, 2016)
    Lawmakers cited the unfair impact the Wells Fargo scandal and any subsequent regulation will have on credit unions and other financial institutions during a House Financial Services Committee hearing Thursday, where Wells Fargo Chairman and CEO John Stumpf faced intense grilling for more than four hours.
  • CUs updated on key regs during NAFCU webcast (Friday, September 30, 2016)
    NAFCU’s Regulatory Affairs team updated viewers on recent and potential future rulemakings from financial regulators, including the NCUA and CFPB, during a NAFCU webcast yesterday.
  • NAFCU, CUNA join forces against bankers over MBL lawsuit (Thursday, September 29, 2016)
    NAFCU and CUNA announced today that they are joining forces in their commitment to protect credit unions' interests by challenging a lawsuit recently filed by the Independent Community Bankers of America against NCUA over its member business lending rule.
  • Congress passes government spending bill, averts shutdown (Thursday, September 29, 2016)
    Congress on Wednesday finalized a deal to keep the government funded through Dec. 9, averting a government shutdown that would have occurred after Friday. The House and Senate are now in recess until after the Nov. 8 elections.
  • Yellen talks reg burden, FI supervision during hearing (Thursday, September 29, 2016)
    One size does not fit all regarding regulations for financial institutions, Federal Reserve Chair Janet Yellen said yesterday during a House Financial Services Committee hearing. She said the Fed's rules and supervisory approaches should be tailored to individual institutions.
  • NAFCU urges House to pass overtime rule delay (Thursday, September 29, 2016)
    NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt yesterday urged House leaders to support legislation delaying the Labor Department's overtime rule so businesses will have more time to comply.
  • Hensarling expects 'CHOICE Act' vote after election (Thursday, September 29, 2016)
    House Financial Services Chairman Jeb Hensarling said this week he anticipates his "Financial CHOICE Act" (H.R. 5983) will have a full House vote after the presidential election in November.
  • FHA proposes relaxed condo rules (Thursday, September 29, 2016)
    The Federal Housing Administration this week proposed relaxed restrictions for agency-backed condominium loans to streamline the process and boost lending to first-time homebuyers.
  • CFPB rep previews rulemaking agenda during NAFCU call-in (Thursday, September 29, 2016)
    CFPB's Jennifer Stockett gave NAFCU members a preview of the bureau's fall rulemaking agenda, including rules in the pre-rulemaking stage and a review of currently proposed rules, during the association's member-only call-in Wednesday.
  • FTC's Ramirez wants action on data security legislation (Wednesday, September 28, 2016)
    Federal Trade Commission Chairwoman Edith Ramirez called on Congress to strengthen data security and breach notification requirements to help the commission deter unlawful conduct during a hearing Tuesday of the Senate Commerce, Science, and Transportation Committee.
  • Senate rejects House-passed government funding bill (Wednesday, September 28, 2016)
    The Senate, voting 55-45, failed Tuesday to garner the 60 votes needed to pass a procedural hurdle and move forward on a government spending bill that would keep the government funded past Sept. 30.
  • NCUA rebrands consumer protection office, notes new initiatives (Wednesday, September 28, 2016)
    NCUA Board Chairman Rick Metsger on Tuesday said the agency's Office of Consumer Protection is being renamed the Office of Consumer Financial Protection and Access to better reflect its functions and role in facilitating consumer access to credit unions.
  • CUs updated on UDAAP policies, procedures in NAFCU webcast (Wednesday, September 28, 2016)
    Credit unions attending a NAFCU webcast yesterday learned how CFPB has been approaching its Dodd-Frank Act authority to enforce against unfair, deceptive or abusive acts and practices (UDAAP) and how they can incorporate a UDAAP analysis into their own product and service decisions.
  • Wells Fargo CEO testifies tomorrow; Labor Department investigates (Wednesday, September 28, 2016)
    Wells Fargo Chairman and CEO John Stumpf will testify on the bank's recent scandal during tomorrow's hearing of the full House Financial Services Committee, set for 10 a.m. Eastern.
  • CFPB orders online lender to pay $3.63M (Wednesday, September 28, 2016)
    CFPB on Tuesday ordered online lender Flurish Inc. to pay a $1.8 million civil penalty and $1.83 million in refunds to more than 50,000 consumers in response to the bureau's findings that it misled consumers about how it would help them build credit and access cheaper loans.
  • CFPB 'snapshot' eyes money transfer complaints (Wednesday, September 28, 2016)
    CFPB's monthly "complaint snapshot" for September eyes consumer complaints about money transfers as well as complaints made by consumers in Pennsylvania.
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