The CFPB Monday issued a policy statement related to how it defines “abusive” under its unfair, deceptive, or abusive acts or practices (UDAAP) authority. NAFCU has called on the bureau to more clearly define this provision through an official rulemaking process.
A new article from Pew Charitable Trusts examined trends in credit union lending trends and found that credit unions issued $846 million in loans through the NCUA’s Payday Alternative Loan (PAL) program in 2022, exceeding the 2019 figure by 32 percent.
NAFCU’s award-winning research team provided findings from the association’s survey on how the CFPB’s proposed rule to lower the safe harbor of credit card late fees would impact credit unions in a new video. Additionally, the video breaks down the latest economic developments, including the Federal Open Market Committee’s (FOMC) decision to raise the federal funds rate in March.
Get the recognition you, your colleagues and your credit union deserve for excellence and achievement. Entering is free and easy; nominations are open through May 12, 2023. Categories include:
In response to the CFPB’s proposed rule to require supervised nonbanks to report certain terms and conditions in form contracts for consumer financial products and services that pose risks to consumers, NAFCU Senior Counsel for Research and Policy Andrew Morris called on the bureau to narrow its scope to ensure credit unions’ partnerships with third-party vendors are not stifled.
In a new post on NAFCU’s Compliance, Risk, & BSA Network, Regulatory Affairs Counsel Dale Baker details Iowa’s state-level consumer data privacy law, SF 262, which becomes effective Jan. 1, 2025. While the law provides credit unions with an entity-level exemption, Baker explains it is unclear whether SF 262’s definition of “affiliate” will apply equally to all credit union service organizations (CUSOs).
Louisville, KY has it all PLUS BSA School August 15 – 17, 2023. You’ll get a solid foundation of core BSA knowledge, and you can earn your NAFCU Certified Bank Secrecy Officer (NCBSO) credential when you pass the exams.
