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  • GDP growth steady at 2.2% for 4Q (Monday, March 30, 2015)
    The U.S. economy grew by 2.2 percent in the fourth quarter, according to the Commerce Department's third and final estimate, as revisions nudged consumption upward while estimates of inventory accumulation fell.
  • Crapo bill requires NCUA, CFPB participation in EGRPRA (Monday, March 30, 2015)
    Senator Mike Crapo, R-Idaho, introduced new NAFCU-backed legislation last week that would ensure all NCUA, CFPB and Dodd-Frank Act rules are evaluated in the 10-year regulatory review process under the "Economic Growth and Regulatory Paperwork Reduction Act," which seeks to identify rules that are unnecessary, outdated and overly burdensome.
  • Senate passes budget plan (Monday, March 30, 2015)
    The Senate late last week passed 52-46 a Republican budget plan that would cut spending by $5.1 trillion over 10 years and give Republicans the opportunity to repeal Obamacare and increase defense spending.
  • Reg Compliance School kicks off today (Monday, March 30, 2015)
    NAFCU Director of Regulatory Compliance JiJi Bahhur will discuss special credit union issues at today’s kickoff of the association’s 2015 Regulatory Compliance School 2015 Regulatory Compliance School in Arlington, Va.
  • Bahhur talks TILA-RESPA timeline (Monday, March 30, 2015)
    In an editorial for the Credit Union Times, NAFCU Director of Regulatory Compliance JiJi Bahhur highlighted key areas that credit unions should address as part of their overall plan to comply in time with the Aug. 1 implementation deadline of CFPB's new integrated mortgage disclosure rule.
  • Nealon to NCUA: Give CUs more time for capital plans (Monday, March 30, 2015)
    NAFCU Director of Regulatory Affairs Alicia Nealon raised concerns about NCUA's proposed reduction to the timeline for formulating and submitting capital plans required under the agency's capital planning and stress testing rule.
  • GSEs record 3.4M foreclosure prevention actions (Friday, March 27, 2015)
    FHFA announced that Fannie Mae and Freddie Mac had completed a total of 3.4 million foreclosure prevention actions since the beginning of their conservatorship in 2008, helping nearly 2.8 million borrowers remain in their homes.
  • NAFCU-backed bill would expand 'rural' designation (Friday, March 27, 2015)
    Senate Majority Leader Mitch McConnell, R-Ky., on Thursday introduced a bill that would create a petition process to ensure "rural" designations in connection with some qualified mortgage lending under CFPB regulation is done in a fair and transparent manner.
  • Fed: Mobile banking up 6% from 2013 (Friday, March 27, 2015)
    A Federal Reserve Board report on mobile financial services found that 39 percent of adult consumers with mobile phones and bank accounts used mobile banking in 2014, up from 33 percent from the year before.
  • NAFCU in contact with CFPB on payday issues (Friday, March 27, 2015)
    NAFCU attended a CFPB field hearing in Richmond, Va., Thursday on payday lending – specifically addressing CFPB’s plan to gather input on a future proposed rule on this issue – and keeping its members’ concerns out front.
  • Matz tells Berger NCUA seeking ‘good faith’ TILA/RESPA efforts (Friday, March 27, 2015)
    As urged by NAFCU, NCUA Board Chairman Debbie Matz has told association President and CEO Dan Berger the agency will be examining credit unions for reasonable, good faith efforts to comply with CFPB’s Truth in Lending Act/Real Estate Settlement Procedures Act rules as of Aug. 1.
  • Mortgage servicing assets study among reg relief bills cleared by House panel (Friday, March 27, 2015)
    The House Financial Services Committee, voting 49-9, on Thursday favorably reported to the full House a NAFCU-backed bill to require federal regulators to "stop and study" the impact of their rules, including NCUA's risk-based capital proposal, on financial institutions' mortgage servicing assets.
  • NAFCU in dialogue with CFPB on payday issues (Thursday, March 26, 2015)
    NAFCU is attending a CFPB field hearing in Richmond, Va., underway now on payday lending – specifically addressing CFPB's plan to gather input on a future proposed rule on payday lending – and keeping its members' concerns out front.
  • Matz to Berger: NCUA seeking ‘good faith’ TILA/RESPA efforts (Thursday, March 26, 2015)
    As urged by NAFCU, NCUA Board Chairman Debbie Matz told association President and CEO Dan Berger the agency will be examining credit unions for reasonable, good faith efforts to comply with CFPB’s Truth in Lending Act/Real Estate Settlement Procedures Act rules as of Aug. 1.
  • House panel OKs mortgage servicing assets study bill (Thursday, March 26, 2015)
    The House Financial Services Committee today, voting 49-9, favorably reported to the full House a NAFCU-backed bill to require federal regulators to "stop and study" the impact of their rules, including NCUA's risk-based capital proposal, on financial institutions' mortgage servicing assets.
  • NAFCU 2015 Credit Union Compliance GPS updated (Thursday, March 26, 2015)
    Credit union compliance, audit and risk professionals can learn about the latest regulations, laws and guidance affecting the credit union industry with NAFCU’s 2015 electronic Credit Union Compliance GPS Credit Union Compliance GPS.
  • House panel expected to pass mortgage servicing assets bill today (Thursday, March 26, 2015)
    The House Financial Services Committee today will vote on several NAFCU-backed measures that would bring regulatory relief to the nation's credit unions, including a bill that would require federal regulators to "stop and study" the impact of their rules on financial institutions' mortgage servicing assets.
  • Panel adds NAFCU-sought exemption to data security bill (Thursday, March 26, 2015)
    A draft data security bill was amended in a House subcommittee mark-up Wednesday to provide an exemption for financial institutions subject to the Gramm-Leach-Bliley Act, as urged by NAFCU.
  • Webcast gives troubled debt restructuring tips (Thursday, March 26, 2015)
    NAFCU's webcast, "Troubled Debt Restructuring: A Review," yesterday offered tips for credit unions on how to handle troubled debt restructuring while taking into account generally accepted accounting principles.
  • House panel considers patent reform (Thursday, March 26, 2015)
    Panelists agreed that abusive patent demand letters must be addressed during a hearing by the House Judiciary Subcommittee on Courts, Intellectual Property and the Internet on how H.R. 9 could protect businesses from frivolous patent litigation.
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