Postal Commission Says It Did Not Approve Banking Pilot
The United States Postal Service began a controversial banking pilot program without the knowledge of the commission that is supposed to oversee the service, according to newly filed documents with the Postal Regulatory Commission.
CUNA, State Leagues Ask NCUA to Form Reg Task Force
The Credit Union National Association and state credit union leagues are calling on the National Credit Union Administration to establish a Regulatory Reform Task Force to weed out outdated, unnecessary, and burdensome regulations.
NAFCU: Treasury Department is Not ‘Forthright’ About CDFI Backlog
The Community Development Financial Institutions program has a serious backlog of applications, and the Treasury Department is failing to be forthright about it with credit unions waiting for their applications to be reviewed, Ann C. Kossachev, vice president of regulatory affairs at NAFCU charged.
CU Trades: CFPB Plan Would Distort View of CU Lending
Credit union trade groups are warning the CFPB that requiring a credit union to report data reflecting its lending to minority-owned and women-owned businesses would deliver a skewed view of the financial institution’s business.
Consumer Groups to CFPB: Issue Tough Small Business Lending Rule
A CFPB rule to require financial institutions to report data on their lending to minority-owned and women-owned businesses should cover as many banks and credit unions as possible, with the information easily accessible to the public, consumer and community groups said.
Van Hollen Touts $90 Million Boost for CDFI Program; Advocates Want More
Senate Financial Services Appropriations Subcommittee Chairman Sen. Chris Van Hollen, D-Md., said he is pushing for a $90 million increase in Community Development Financial Institution funding—but witnesses told a Senate Subcommittee much more is needed.
Watchdog Group Blasts CUNA for Contributions To ‘Sedition Caucus’
A government watchdog group is blasting the Credit Union National Association for continuing to support members of Congress who voted against certifying the Electoral College votes in the 2020 presidential election.
GAO: Lenders Requiring Appraisals When None Are Needed
Lenders are obtaining appraisals in real estate transactions even when they are not required, the Government Accountability Office said in a new report.
Republicans Blast Chopra with Renewed Vigor
Republicans on Capitol Hill are attacking the Consumer Financial Protection Bureau with renewed zeal following Director Rohit Chopra’s attempt to force the Federal Deposit Insurance Corporation to solicit comments on bank merger policies.