The CFPB Thursday issued a proposed rule to implement section 1033 of the Dodd-Frank Act related to personal financial data rights. The proposal would require financial institutions and others to share information – at a customer’s request and at no cost – with other businesses that offer competing products.
The NCUA Board held its October meeting yesterday. The board unanimously approved issuing a pair of proposed rules to simplify insurance rules and implement the Fair Hiring in Banking Act.
The Senate Banking Committee Thursday heard directly from NCUA Board nominee Tanya Otsuka, who has been nominated to replace current Board Member Rodney Hood as his term expired in August. During the hearing, Otsuka outlined her priorities should she be confirmed to the NCUA Board and stressed the importance of the NCUA as an independent regulator.
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NAFCU's widely read NAFCU Today is credit union leaders' go-to source for the latest on issues impacting the credit union industry. For those short on time, here's a roundup of this week's top need-to-know updates and resources.
Existing home sales fell 2 percent in September to a seasonally-adjusted annual rate of 3.96 million units, representing a 15.4 percent decrease in sales versus a year ago. NAFCU Research Analyst John Hay broke down the report in a new NAFCU Macro Data Flash report.
