Also: More clarity, flexibility needed under CARD Act, says Morris; Lawsuits challenge HUD's final disparate impact rule
NAFCU TODAY | The News You Need Daily.
October 28, 2020
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Ahead of election, NAFCU pushes for more CU wins [ [link removed] ]
Although 2020 has been a year of challenges, NAFCU and the credit union industry have achieved several wins as they've worked to obtain a more efficient regulatory environment and better serve the industry's 122 million members amid the coronavirus pandemic. With the presidential election less than a week away, here's a look at key issues and how NAFCU will keep fighting for credit unions.
NAFCU provides CFPB with CU insights, CARD Act recommendations [ [link removed] ]
NAFCU's Andrew Morris wrote to the CFPB Tuesday in response to the bureau's review of the Credit Card Accountability Responsibility and Disclosure (CARD) Act and request for information (RFI) on the current consumer credit card market, reiterating the association's prior call for additional regulatory clarity to encourage more efficient disclosure practices, such as granting flexibility when providing required disclosures via online and mobile banking platforms.
HUD's disparate impact rule faces legal challenges [ [link removed] ]
After going into effect Monday, the Department of Housing and Urban Development's (HUD) final rule to amend the Fair Housing Act's (FHA) disparate impact standard is facing two legal challenges: One in California and one in Connecticut.
Today: NCUA Board to consider proposed interagency rule [ [link removed] ]
The NCUA Board is set to hold a special meeting today to consider a proposed interagency rule – informally issued earlier this month by the federal financial regulators – on the role of supervisory guidance to clarify that agency guidance "does not have the force of law."
Compliance Seminar continues with focus on fraud, recent trends [ [link removed] ]
NAFCU's Virtual Regulatory Compliance Seminar continues today with general sessions on Regulation E and recent fraud trends. The conference, which runs through Friday, is designed to provide compliance professionals with an opportunity to stay on top of evolving regulatory trends and hot topics to fully understand the new and developing landscape.
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