NAFCU President and CEO Dan Berger and CUNA President and CEO Jim Nussle wrote to the House Financial Services Committee ahead of today’s hearing where CFPB Director Rohit Chopra will provide the bureau’s semi-annual report to Congress. In the letter, the groups offered support for the committee’s oversight of the bureau while outlining several key areas of concern with CFPB policies that impact the credit union industry.
NAFCU Tuesday met with the Federal Communications Commission’s (FCC) recently confirmed Commissioner Anna Gomez and her staff to discuss issues regarding the Telephone Consumer Protection Act (TCPA) and the FCC’s efforts to combat illegal robocalls. Of note, NAFCU met with staff from the other FCC Commissioners’ offices earlier this fall to discuss similar issues.
The CFPB Tuesday announced a $12 million order against Bank of America for submitting false mortgage lending information to the federal government under the Home Mortgage Disclosure Act (HMDA). The bureau’s order requires Bank of America to pay the full $12 million to the CFPB’s victims relief fund.
The NCUA Tuesday announced it will reinstate civil money penalties for credit unions that fail to submit call reports on time, beginning Jan. 1, 2024. The penalties were suspended after the December 2019 cycle due to the pandemic.
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