Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
CUNA Reg Advocacy Report Features CU Comment Collection
WASHINGTON (10/16/13)--The Credit Union National Association continues to work to address the regulatory issues faced by credit unions, and in this week's edition of the Regulatory Advocacy Report, CUNA regulatory staff highlight three areas in which regulators are seeking comments from credit unions and others.

The first area outlined is a Federal Reserve paper on potential payments system changes and improvements. The Fed is working to address potential gaps and opportunities in the payments system, including payment speed, closed payment communities, and international, mobile, and traditional payment channels. The Fed is also exploring where it fits in the payment system going forward, and is seeking extensive public comment as part of this research process.

CUNA is reviewing the paper with its payments subcommittee, CUNA Councils, and others, and has met with the Fed to discuss payments issues and how credit unions can provide feedback.

Another item of interest is Bank Secrecy Act burdens, and CUNA is reaching out to credit unions on this issue as well. In a CUNA-produced survey, credit unions can detail their own regulatory burdens and suggest areas in which BSA regulations can be improved.

Also, CUNA continues to accept comment on an interagency credit risk retention proposal that includes a new definition of "qualified residential mortgage" (QRM). The proposed QRM definition would be identical to the definition adopted by the CFPB for a "qualified mortgage" (QM). Comments on this proposal are due by Oct. 30.

This week's Regulatory Advocacy Report also includes:
  • Details on the Consumer Financial Protection Bureau's recent release of Home Mortgage Disclosure Act guidance;
  • National Credit Union Administration exam modernization efforts; and;
  • The results of an NCUA material loss review of Chetco FCU.
A resource chart with information on current CUNA comment calls is also provided in the Report.

For this week's Regulatory Advocacy Report, CUNA members can use the resource link.
Other Resources

Regulatory Advocacy Report
RSS print
News Now LiveWire
How #creditunions use FHLBs in their operations, Part 3 #NewsNow #System http://t.co/DXgRqXiRAn
10 minutes ago
Retirement reality fairs: Looking at post-work futures today. #NewsNow http://t.co/IcM4uK3IOl
19 minutes ago
#HomeDepotBreach: What it means for consumers with 56 million compromised cards See #NewsNow http://t.co/9MJ9JTnHYC
58 minutes ago
Welcome to Jim @Nussle as @CUNA pres/CEO today #NewsNow http://t.co/Y2pRFv6diW
1 hours ago
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
16 hours ago