Newsroom
NAFCU seeks CUs' input on CFPB-related costs
June 5, 2012 – NAFCU is asking members to provide the association their input by June 11 oncompliance costs and other effects of potential new regulations from the Consumer Financial Protection Bureau.
CFPB has issued a request for information fromservice providers as well as consumers on the cost of compliance. NAFCU is seeking members' input to itsofficial comment.
The CFPB's intent in seeking the information is to:
- ensure it has considered the compliance burdens and costs before completing a rulemaking action;
- understand the effects of potential regulations on providers and consumers, the ways in which providers may comply with potential regulations and the costs associated with compliance; and
- determine whether proposed rules may have unnecessary costs for providers or consumers.
NAFCU is asking members for information about whether they are regularly updating their systems to comply with new rules; the feasibility of quantifying costs and burdens;whether the costs and burdens are proportionate to the size of the institution; and, among other things,whether credit unions are adopting technological advances to cut operational costs.
Comments are due to the CFPB June 19. NAFCU Regulatory Alert 12-EA-14 is online (members only).
Share This
Related Resources
Add to Calendar 2024-05-03 14:00:00 2024-05-03 14:00:00 Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing About the Webinar In January 2024, Pentegra conducted a survey of retirement plan sponsors and their perspectives on retirement plan management and fiduciary outsourcing. The survey measured how sponsors are using fiduciary outsourcing to help better manage their retirement plans. It also captured their perspectives on what outsourcing does to help them better position their plans and drive improved retirement plan outcomes. Key Takeaways: What is the full scope of your responsibilities as a plan sponsor? What is fiduciary outsourcing and how does it work? How does fiduciary outsourcing help reduce workloads and minimize risk? How can a credit union best position its plan to drive improved outcomes? Register Here Web NAFCU digital@nafcu.org America/New_York public
Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing
preferred partner
Pentegra
Webinar
Ensuring Safety and Soundness with AI
Management, Consumer Lending, FinTech
preferred partner
Upstart
Blog Post
Turning Lemons into Lemonade: Capitalizing in a Post-Banking Crisis Era
Strategy
preferred partner
Allied Solutions
Blog Post
Add to Calendar 2024-05-02 14:00:00 2024-05-02 14:00:00 Mastering Resilience in Incident Response Plans About the Webinar An Incident Response (IR) plan is crucial for guiding credit unions through major incidents efficiently and effectively. However, many IR plans lack resilience, making them less adaptable to the evolving threat landscape. Join us for our webinar Mastering Resilience in Incident Response Plans where DefenseStorm cyber experts Elizabeth Houser and James Bruhl will delve into the importance of resiliency within cybersecurity IR plans. Don’t miss out on the opportunity to learn how to: Ensure IR plan accessibility so that all team members with assigned roles are prepared for effective incident response. Conduct efficient and regular reviews to ensure roles and responsibilities are current, tools are relevant, and compliance requirements are met. Implement and utilize tabletops to regularly test the effectiveness of your IR plan. Enhance preparedness, efficiency, and confidence among responders. View On-Demand Web NAFCU digital@nafcu.org America/New_York public
Mastering Resilience in Incident Response Plans
preferred partner
DefenseStorm
Webinar
Get daily updates.
Subscribe to NAFCU today.