Berger
blasts bank lobbyists for misleading comments on CU-bank mergers
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
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
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.
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New
FinCEN report reflects increase in elder financial abuse
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
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.
