CUs,
NAFCU meet with House Financial Services Committee Member Budd
NAFCU-member
credit unions, including Truliant Federal Credit Union, Acclaim Federal Credit
Union, Allegacy Federal Credit Union, and Piedmont Advantage Credit Union, Thursday
joined members of the association’s advocacy team for a meeting with House Financial
Services Committee Member Rep. Ted Budd, R-N.C. During the virtual meeting, the
group discussed a number of key topics including data security and interchange,
along with the various ways credit unions have provided support to their members amid the coronavirus pandemic.
SCOTUS
agrees with narrow autodialer definition
The U.S. Supreme Court Thursday
upheld a narrow interpretation of the definition of an "autodialer,"
which NAFCU has consistently supported. The association filed an amicus brief
with the Supreme Court last year arguing against a broad interpretation of an autodialer.
NAFCU-supported
bill to reform CU governance policies introduced in House
House Financial
Services Committee members Tom Emmer, R-Minn., and Ed Perlmutter, D-Colo., Thursday
introduced NAFCU-sought legislation that would improve existing language in the
Federal Credit Union (FCU) Act related to expulsion in order to protect credit unions, members, and employees.
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CFPB
warns mortgage servicers to prepare for foreclosures
The CFPB published
a compliance bulletin warning mortgage servicers of an expected wave of foreclosures
this fall once coronavirus relief provisions expire. The bureau urged servicers
to "take all necessary steps now" and prepare to help borrowers.
FinCEN
starts rulemaking process for beneficial ownership reporting
The Financial
Crimes Enforcement Network (FinCEN) Thursday issued an advance notice of proposed
rulemaking (ANPR) related to the implementation of the beneficial ownership information
reporting provisions included in the Anti-Money Laundering Act (AMLA).
NCUA's Harper named FFIEC chair
NCUA Chairman Todd Harper Thursday was named chairman of the Federal Financial
Institutions Council (FFIEC) for a two-year term. Acting Comptroller of the Currency
Blake Paulson was named vice chair for the same term length.
New
on the Compliance Blog: CAN-SPAM refresher, CLF enhancement extension, more
As credit unions work to meet the needs of more than 124 million Americans during
the coronavirus pandemic, NAFCU's award-winning regulatory compliance team
continues to keep credit unions informed with new posts on the Compliance Blog every Monday, Wednesday, and Friday.
