Also: UDAAP issue brief updated with recent enforcement action; NAFCU, trades raise concerns about debt collection bill



NAFCU TODAY | The News You Need Daily.

May 12, 2021



----------

----------

Senate votes to overturn 'true lender' rule [ [link removed] ]
The Senate Tuesday approved a resolution to overturn the Office of the Comptroller of the Currency's true lender rule using the Congressional Review Act (CRA). The resolution now heads to the House for consideration.


Updated UDAAP issue brief [ [link removed] ]
NAFCU has updated the unfair, deceptive, or abusive acts or practices (UDAAP) issue brief. The update concerns a recent enforcement action, CFPB v. SettleIt Inc., in which a debt collection company was alleged to have engaged in abusive acts or practices by taking unreasonable advantage of the reasonable reliance by consumers on the company to act in the interest of the consumer.


NAFCU, trades raise concerns with debt collection legislation [ [link removed] ]
The House is expected to vote this week on legislation that seeks to combat abusive debt collection practices. Yesterday, ahead of a Rules Committee hearing to set debate on the legislation, NAFCU joined with several other financial services industry trades to raise concerns about language in the bill that would expand the definition of a "debt collector" and increase risks to lenders.






NAFCU Reg Committee discusses NCUA rulemakings, fintech, interchange [ [link removed] ]
NAFCU's Regulatory Committee met Tuesday and discussed a number of proposed rulemakings currently open for comment from the NCUA. NAFCU staff also provided an overview of recent developments on the association’s advocacy efforts related to fintech and recent litigation related to interchange.


Fed regulators offer webinar on emergency capital program [ [link removed] ]
The NCUA and other federal financial regulators are hosting a webinar May 24 on the Treasury Department's Emergency Capital Investment Program (ECIP). The program allows eligible Community Development Financial Institutions (CDFIs) and minority depository institutions (MDIs) to apply for funding to support small businesses and consumers facing financial hardships amid the coronavirus pandemic.


Today: NAFCU's CEOs Conference kicks off [ [link removed] ]
NAFCU's CEOs and Senior Executives Conference begins this morning with welcome remarks from NAFCU President and CEO Dan Berger and Executive Vice President of Government Affairs and General Counsel Carrie Hunt, followed by an update from NCUA Board Chairman Todd Harper on the latest news from the agency.



----------



----------






----------
NAFCU Calendar: [link removed]





----------






--------------------------------------------

JOIN THE CONVERSATION:
LINKEDIN: [link removed]
FACEBOOK: [link removed]
TWITTER: [link removed]
YOUTUBE: [link removed]
BLOGS: [link removed] ]
---------------------------------------------
Send feedback [ mailto:[email protected] ]
Subscribe now to NAFCU Today [ [link removed] ]
Opt out of NAFCU Today? [ [link removed] ]
Update your communication preferences [ [link removed] ]
Unsubscribe to ALL of NAFCU's emails. [ [link removed] ]

NAFCU Today? is published weekdays by the National Association of Federal Credit Unions.

3138 10th Street North | Arlington, VA 22201 | email: [email protected] [ mailto:[email protected] ] | phone: (703) 522-4770; (800) 344-5580

?




Powered by Higher Logic [link removed]