Also: Fed releases 2024 pricing schedule; CFPB fines Toyota Motor Credit $60M
NAFCU Today

November 21, 2023

NAFCU, trades call on CFPB to go through proper process for FCRA rulemaking

In response to the CFPB’s release of an outline of proposals under consideration for the bureau’s rulemaking effort related to the Fair Credit Reporting Act (FCRA), NAFCU and other stakeholder groups urged the bureau to follow the proper process and issue an advance notice of proposed rulemaking (ANPR) before moving forward with a proposed rule.

Fed releases 2024 pricing schedule

The Federal Reserve Board announced that the fee schedule for payment services provided by Federal Reserve Banks and used by depository institutions will go into effect Jan. 2, 2024.

CFPB fines Toyota Motor Credit $60M for illegal conduct

The CFPB Monday ordered Toyota Motor Credit Corporation to pay a total of $60 million in consumer redress and penalties – $48 million to harmed consumers and $12 million into the CFPB’s victims relief fund. The bureau claimed the company “operated an illegal scheme to prevent borrowers from cancelling product bundles that increased their monthly car loan payments.”


🥳 Back after a Sell-out Year!

Unlock next-level success for your credit union's growth at the 2024 Strategic Growth Conference in beautiful Savannah, GA, March 11 - 13. Hurry! This conference is selling quickly again this year!

 Growth Strategies in Savannah 

NAFCU closed for Thanksgiving holiday

NAFCU’s offices will be closed Wednesday through Friday for the Thanksgiving holiday. Credit union members will still have access to the association’s website for resources as well as regulatory and legislative updates on key issues.  

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  NAFCU CALENDAR
NOV
22
NCUA - Fair Hiring in Banking
Comments Due to NAFCU
DEC
1
CFPB - Personal Financial Data Rights (Section 1033)
Comments Due to NAFCU
DEC
5
Grounded perspectives on Generative Artificial Intelligence (AI) and Credit Unions
Complimentary Webinar
DEC
6
NCUA - Share Insurance Rule Amendment
Comments Due to NAFCU

💰 Use your remaining 2023 budget to attend Regulatory Compliance School in the Spring! 

 

Join your compliance peers in Arlington, VA, March 18 – 22 for 2024 Regulatory Compliance School. Plus, earn your NCCO certification when you pass the optional exams! CU Compliance from A to Z.

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