Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
NASCUS, CFPB Sign Memorandum Of Understanding
WASHINGTON (5/22/13)--The National Association of State Credit Union Supervisors and the Consumer Financial Protection Bureau "will continue to endeavor to promote consistent examination procedures and effective enforcement of state and federal consumer laws and to minimize regulatory burden on state credit unions" under the terms of a new memorandum of understanding (MOU).

Click to view larger imageCFPB Deputy Director Steve Antonakes, left; Mary Martha Fortney, NASCUS president/CEO; and John Ryan, Conference of State Bank Supervisors president/CEO, pose after signing a memorandum of understanding. (Photo by Randy Jonoski provided by NASCUS)
NASCUS said the MOU, signed Tuesday by representatives from both groups, "provides that state regulators and the CFPB will consult each other regarding the standards, procedures, and practices used by state regulators and the CFPB to conduct compliance examinations of credit unions."

The MOU will help NASCUS and the CFPB avoid wasting time and resources, NASCUS said in a release.

"As we are committed to reducing regulatory burden and increasing examination efficiencies while protecting America's state credit union members, NASCUS is pleased to sign this MOU," Mary Martha Fortney, NASCUS president/CEO, said.

For the full NASCUS release, use the resource link.
Other Resources

NASCUS Release
RSS print
News Now LiveWire
For the last 75 years, even in the most difficult of times, Mill Town #CU has been there for the community it serves. Read #NewsNow Tues.
8 hours ago
The 1st vid shows how consumer can become victim and, advice to those who think they've been targeted. http://t.co/hr9VHpzEze
12 hours ago
.@TheNCUA has released two videos designed to raise awareness of elder financial abuse. http://t.co/iddSxr7H40
12 hours ago
Celebrate #100MM with @MDDCCUA1 at Orioles v Blue Jays tonight at Camden Yards
13 hours ago
The At Home In Lawrence mortgage program from @MetroCU is designed to help revitalize Lawrence, Mass.
13 hours ago