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.
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.
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!
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.
