Also: 'Abusive' prong gets clarity in new policy statement; House panels to review CRA proposal, mobile payments



NAFCU TODAY | The News You Need Daily.

January 27, 2020



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Berger blasts bank lobbyists for misleading comments on CU-bank mergers [ [link removed] ]
In a new American Banker op-ed, NAFCU President and CEO Dan Berger rebuked bank lobbyists for misleading the public with their criticisms of credit union-bank mergers.   


CFPB releases policy on 'abusive' prong [ [link removed] ]
Following calls by NAFCU to clarify the "abusive" prong of the unfair, deceptive or abusive acts or practices (UDAAP) provision and efforts last year to gather feedback on the issue, the CFPB Friday released a policy statement "providing a common-sense framework" for addressing it in supervision and enforcement matters.


This week: House returns to session; FOMC holds 1st meeting of 2020 [ [link removed] ]
While regular business in the Senate remains halted as a result of the impeachment trial, the House returns to session this week. NAFCU will monitor several committee hearings related to the Community Reinvestment Act (CRA) and mobile payments. In addition, the Federal Open Market Committee (FOMC) starts its first meeting of 2020 tomorrow.


NAFCU's 2020 Advocacy Priorities. Because to us, it's personal. Read Advocacy Priorities [link removed]



New FinCEN report reflects increase in elder financial abuse [ [link removed] ]
New data from the Financial Crimes Enforcement Network's (FinCEN) strategic analysis of Bank Secrecy Act filings regarding elder financial exploitation revealed significant increases in the number of filings reporting elder abuse and the amount of money involved. NAFCU's Elizabeth LaBerge breaks down concerning trends from the report in a new Compliance Blog post.


Updated HMDA guide for small FIs available [ [link removed] ]
The CFPB has released an updated version of its Home Mortgage Disclosure Act (HMDA) Small Entity Compliance Guide. The new version reflects changes made by the bureau's rule in October to extend by two years the temporary threshold of 500 for reporting open-end lines of credit.



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