Newsroom

Both the CFPB and NCUA released their spring rulemaking agendas this week. The CFPB will be moving forward on issues including debt collection, payday lending and Regulation CC; the NCUA is set to address field of membership (FOM), supplemental capital and its payday alternative lending (PALs) program.

CFPB

Debt collection: The CFPB agenda indicates that the bureau is preparing a proposed rule focused on debt collectors, which may address communication practices and consumer disclosures issues. The rulemaking process is expected to begin in the first quarter of next year.
Payday lending: The CFPB announced in January that it would take a second look at its payday lending rule issued last year. Formal reconsideration of the rule is expected early next year.
Regulation CC: A notice of proposed rulemaking is expected from the bureau next month – though the extent to which the CFPB will address previously proposed amendments introduced in 2011 is not clear.   
Home Mortgage Disclosure Act (HMDA): The bureau is expected to issue a follow-up rulemaking early next year after temporarily increasing the HMDA reporting threshold for open-end lines of credit.
Business Lending Data (Regulation B): Pre-rule activities related to implementation of the Dodd-Frank Act's business lending data collection requirements will extend to the first quarter of 2019. NAFCU has consistently urged the bureau to exempt credit unions from future implementation of the Dodd-Frank Act's business-lending data collection provisions.

NCUA
                       
FOM: NCUA's agenda indicates that the agency expects to finalize its 2016 proposal amending community charter field of membership requirements late this year.
Supplemental capital: A proposal is expected to be revealed this summer.
PALs: A new program option is expected to be added to the NCUA's PAL program. This would not be a replacement for the current program, but an alternative. Specifically, this proposal (PALs II) would differ from the current PALs rule by modifying the minimum and maximum amount of the loans, eliminating the minimum membership requirement and increasing the maximum maturity for these loans.  
Voluntary mergers: The voluntary merger rule is expected to be finalized later this year.
Involuntary liquidation: The agenda indicates a final rule is slated for this summer.
Real estate appraisals: NCUA intends to update its rules requiring appraisals of real estate for certain transactions. The proposal, slated for later this year, would increase the threshold level at or below which appraisals would not be required for commercial real estate transactions.