Newsroom
June 13, 2014
CFPB before House panels on employment, more
June 16, 2014 – A House Financial Services subcommittee will again hear from CFPB witnesses on the continuing case of alleged discrimination and retaliation at the bureau on Wednesday, the same day CFPB Director Richard Cordray delivers the bureau's semiannual report to the full committee.
The House Financial Services Subcommittee on Oversight and Investigations on Wednesday will hold a hearing titled, "Allegations of Discrimination and Retaliation within the Consumer Financial Protection Bureau, Part Three," The subcommittee's investigation into CFPB workplace issues was prompted by reports published in American Banker that cited a pattern of ranking white employees higher than minority employees, as well as accusations of a hostile work environment.
The bureau recently revealed that it will use a more simplified employee evaluation system with only two performance tiers available, after an internal agency audit revealed that there were discriminatory "disparities" resulting from the previous system.
Also on Wednesday, Cordray will deliver the bureau's semiannual report to the House Financial Services Committee. Cordray participated in a similar hearing last week with the Senate Banking Committee where he discussed CFPB's proposed rule on prepaid cards, arbitration clauses and the qualified mortgage points-and-fees "cure," which is supported by NAFCU.
Cordray told the Senate Banking Committee that CFPB's proposed rule on prepaid cards should be out by the "end of summer."
The House Financial Services Subcommittee on Oversight and Investigations on Wednesday will hold a hearing titled, "Allegations of Discrimination and Retaliation within the Consumer Financial Protection Bureau, Part Three," The subcommittee's investigation into CFPB workplace issues was prompted by reports published in American Banker that cited a pattern of ranking white employees higher than minority employees, as well as accusations of a hostile work environment.
The bureau recently revealed that it will use a more simplified employee evaluation system with only two performance tiers available, after an internal agency audit revealed that there were discriminatory "disparities" resulting from the previous system.
Also on Wednesday, Cordray will deliver the bureau's semiannual report to the House Financial Services Committee. Cordray participated in a similar hearing last week with the Senate Banking Committee where he discussed CFPB's proposed rule on prepaid cards, arbitration clauses and the qualified mortgage points-and-fees "cure," which is supported by NAFCU.
Cordray told the Senate Banking Committee that CFPB's proposed rule on prepaid cards should be out by the "end of summer."
Share This
Related Resources
Add to Calendar 2024-03-13 14:00:00 2024-03-13 14:00:00 Digital Assets in Credit Unions: What Are the AML Risks? The digital asset boom is upon us. Like it or not, you have to deal with it effectively with your members, credit unions are on the frontlines of crypto adoption. Even the NCUA has been providing more and more guidance on different aspects of digital assets. You need to be prepared. How? By understanding the core basics of digital assets (specifically cryptocurrencies) the risks that it poses to credit unions and how you can be better prepared to handle issues when they arise. In this webinar, Understanding the Digital Assets Boom, you’ll focus on the basics of digital assets, a background of cryptocurrencies and types, the regulations that are established and the proposals that are being considered and how to position yourself to understand all of these components and include them in your day-to-day roles. Key Takeaways Comprehend the basics of digital assets including cryptocurrencies Understand currently established regulations and what the future has in store, specifically in 2024 Identify and remediate issues that arise in your credit union Register Now $295 Members | $395 Nonmembers(Additional $50 for USB)One registration gives your entire team access to the live webinar and on-demand recording until March 13, 2025Go to the Online Training Center to access the webinar after purchase » Who Should Attend NCCOs NCRMs Compliance and risk titles Education Credits NCCOs will receive 1.0 CEUs for participating in this webinar NCRMs will recieve 1.0 CEUs for participating in this webinar Web NAFCU digital@nafcu.org America/New_York public
Digital Assets in Credit Unions: What Are the AML Risks?
Credits: NCCO, NCRM
Webinar
How AI Drives More Affordable Credit Access
Management, Consumer Lending, FinTech
preferred partner
Upstart
Blog Post
Add to Calendar 2024-03-01 14:00:00 2024-03-01 14:00:00 Understanding the New Beneficial Ownership Rules In 2021, Congress passed the Corporate Transparency Act, which requires companies to report their beneficial ownership information (BOI) directly to the Financial Crimes Enforcement Network (FinCEN). Since that law was passed, FinCEN has issued multiple rulemakings to enact the law’s requirements – including discussing which information must be reported to FinCEN and how credit unions and other financial institutions can access that information from FinCEN’s database. In this webinar, Understanding the New Beneficial OwnershipRules, you’ll explore these recent rulemakings and how they affect Bank Secrecy Act (BSA) compliance for credit unions. Key Takeaways Learn what information FinCEN will be collecting from reporting companies Determine how a credit union can access information that has been provided to FinCEN Discover the uses of BOI obtained from FinCEN Look ahead at what other updates could be coming from FinCEN Register Now $295 Members | $395 Nonmembers(Additional $50 for USB)One registration gives your entire team access to the live webinar and on-demand recording until March 1, 2025Go to the Online Training Center to access the webinar after purchase » Who Should Attend NCBSOs NCCOs BSA and compliance Education Credits NCCOs will receive 0.5 CEUs for participating in this webinar NCBSOs will recieve 0.5 CEUs for participating in this webinar About Our Webinars Our webinars are streamed live from NAFCU headquarters near Washington, DC. Your audio/video feed of the presenters includes presentation slides and downloadable handouts. You can easily submit your questions to the presenters at any time during the live broadcast, with no dialing over the phone! The audio and video stream directly through your computer. Web NAFCU digital@nafcu.org America/New_York public
Understanding the New Beneficial Ownership Rules
Credits: NCCO, NCBSO
Webinar
Empowering Lenders: Key Insights on the State of Vehicle Accessibility in 2024
Consumer Lending, Leadership
preferred partner
Open Lending
Blog Post
Get daily updates.
Subscribe to NAFCU today.