The National Credit Union Administration must make it easier for groups to form new credit unions and should stop encouraging small, struggling credit unions to merge, NCUA board Vice Chairman Kyle Hauptman said Wednesday.
Federal financial regulators must adopt a rule to address inequities in appraisal and valuation services, National Credit Union Administration Chairman Todd Harper said Monday.
National Credit Union Administration Board member Rodney Hood on Thursday called on federal banking regulators to begin developing a joint principles-based approach to marijuana banking.
The Consumer Financial Protection Bureau will begin enforcing the payments section of its payday loan rule on June 13, 2022, agency Acting Director Dave Uejio said Tuesday.
The Biden Administration’s plan to require banks and credit unions to report data to the IRS from accounts that have “gross flow thresholds” over $600 will not pose an additional regulatory burden on financial institutions, Natasha Sarin, the Treasury Department’s deputy assistant secretary for economic policy wrote Tuesday.
Consumer advocates are praising the Consumer Financial Protection Bureau’s proposed rule that would require financial institutions, including credit unions, to report demographic information about their small business lending.
The Consumer Financial Protection Bureau on Wednesday proposed requiring financial institutions, including credit unions, to report information about their small business lending, in an attempt to root out discriminatory practices.
Federal financial regulators, including the National Credit Union Administration, pledged this week to provide regulatory flexibility to financial institutions affected by Hurricane Ida and California wildfires.
Low-income, federally insured credit unions that wish to be certified as Community Development Financial Institutions may apply for the National Credit Union Administration’s streamlined qualification process between Sept. 12 and Oct. 15, agency officials announced last week.
Consumer advocates are asking a federal judge to prohibit the Consumer Financial Protection Bureau from using any of the recommendations of a controversial consumer law task force.