Credit Union Register

Regulation Z thresholds adjusted for 2015

2014-08-15T08:08:00.002-04:00

08/15/14: Truth in Lending (Regulation Z) Annual Threshold Adjustments (CARD ACT, HOEPA and ATR/QM). Final rule; official interpretation. Consumer Financial Protection Bureau. Effective 01/01/15. PDF Text

OFAC revised guidance

2014-08-14T08:26:00.001-04:00

08/14/14: Publication of Revised Guidance on Entities Owned by Persons Whose Property and Interests in Property Are Blocked. Office of Foreign Assets Control. Effective 08/14/14. PDF Text

OFAC blocked persons designation

2014-08-14T08:25:00.000-04:00

08/14/14: Designation of 3 Individuals Pursuant to Executive Order 13224 of September 23, 2001, “Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten To Commit, or Support Terrorism.” Notice. Office of Foreign Assets Control. Effective 08/06/14. PDF Text

FinCEN BSA proposal, customer due diligence

2014-08-13T08:06:00.000-04:00

08/04/14: Customer Due Diligence Requirements for Financial Institutions. Notice of proposed rulemaking. Financial Crimes Enforcement Network. Comments are due 10/03/14. PDF Text

OFAC blocked-assets designation

2014-08-12T22:40:00.002-04:00

08/12/14: Actions Taken Pursuant to Executive Order 13551; blocked assets. Notice. Office of Foreign Assets Control. Effective 07/31/14. PDF Text

Consumer advisory about Bitcoin and other virtual currencies

2014-08-12T22:38:00.003-04:00

08/11/14: Virtual or digital currencies. A consumer advisory points out pitfalls of virtual or digital currencies, such as Bitcoin, including absence of any federal backing. CFPB.

Announcement/blog post HTML

Consumer advisory PDF

Consumer complaints accepted HTML

Community support review for FHLB members

2014-08-12T08:25:00.003-04:00

08/11/14: Federal Home Loan Bank Members Selected for Community Support Review 2014-2015 Review Cycle--3rd Round. 12 credit unions are in this round. Notice. Federal Housing Finance Agency. Community support statements are due to FHFA by 9/25/14. PDF Text

NCUA proposed rule on fixed assets

2014-08-12T08:24:00.001-04:00

08/11/14: Federal credit union ownership of fixed assets. Proposed rule. NCUA. Comments are due 10/10/14. PDF Text

Renewal of FinCEN suspicious activity report electronic data fields

2014-08-12T08:22:00.003-04:00

08/11/14: Renewal Without Change of the FinCEN Suspicious Activity Reports Electronic Data Fields. Notice and request for comment. Financial Crimes Enforcement Network. Comments are due 10/10/14. PDF Text

HUD housing counseling program application

2014-08-12T08:20:00.000-04:00

08/11/14: HUD Housing Counseling Program - Application for Approval as a Housing Counseling Agency. 30-day notice of information collection. Department of Housing and Urban Development. Comments are due 09/10/14. PDF Text

Home equity conversion mortgage; loan servicing

2014-08-12T08:18:00.002-04:00

08/11/14: Performing Loan Servicing for the Home Equity Conversion Mortgage (HECM). 30-day notice of proposed information collection. Department of Housing and Urban Development. Comments are due 09/10/14. PDF Text

FOMC policy directive (July)

2013-09-04T07:30:00.000-04:00

09/04/13: Federal Open Market Committee; Domestic Policy Directive of July 30-31, 2013. Federal Reserve System.

Notice PDF Text

FDIC final rule, records of failed institutions

2013-09-04T07:28:00.003-04:00

09/04/13: Records of Failed Insured Depository Institutions. Final rule. Effective 10/04/13. FDIC.

Notice PDF Text

FFIEC Appraisal Subcommittee to meet

2013-09-04T07:27:00.001-04:00

09/04/13: Appraisal Subcommittee of the Federal Financial Institutions Examination Council; Notice of Meeting. Open meeting is 10:30 a.m. 09/11/13; closed session follows immediately.

Open meeting notice PDF Text
Closed meeting notice PDF Text

NCUA releases material loss review on El Paso’s FCU

2013-09-04T06:30:00.000-04:00

08/26/13: NCUA liquidated El Paso’s FCU last September. NCUA’s inspector general office released a 38-page material loss review last week that features numerous redactions throughout. The report highlights issues with excessive fee income and problems with internal controls and record keeping. It says NCUA examiners could have prevented losses to the National Credit Union Share Insurance Fund if they had been more aggressive in addressing these and “identified and followed up on potential fraud risk factors.”

OIG report on MLR PDF

SBA data collection, forms for 7(a), Lender Advantage programs

2013-09-03T07:00:00.005-04:00

09/03/13: Data Collection Available for Public Comments. Comments due 11/04/13. The Small Business Administration is changing forms used for the standard 7(a) and Lender Advantage Programs.

Notice PDF Text

CFPB plans Sept. 30 forum on student loan debt

2013-09-03T07:00:00.003-04:00

08/29/13: This will be a discussion forum on the bureau’s findings regarding financial products marketed to students. The forum is scheduled for 1 p.m. Eastern in Washington. Consumer Financial Protection Bureau.

Announcement HTML

CFPB Consumer Advisory Board meets Sept. 18 in Jackson, Miss.

2013-09-03T07:00:00.002-04:00

08/28/13: The CAB is scheduled to meet at 11 a.m. Central time at Mississippi Valley State University. Consumer Financial Protection Bureau.

Announcement in English HTML
Announcement in Spanish HTML

CFPB unveils toolkit to help public service employees out of student loan debt

2013-09-03T07:00:00.001-04:00

08/28/13: The toolkit is for school districts and other public service organizations seeking to help their employees pay off or find out how to get relief from student loan debt. Consumer Financial Protection Bureau.

CFPB announcement HTML
Cordray’s press call remarks HTML

CFPB announces leadership appointments

2013-09-03T07:00:00.000-04:00

08/26/13: The bureau has announced four staff changes in the Office of Intergovernmental Affairs, Office of Research, Office of Regulations and Office of Financial Institutions and Business Liaison. Consumer Financial Protection Bureau.

Announcement HTML

NCUA sues Morgan Stanley over MBS sold to corporates

2013-08-30T12:56:00.003-04:00

08/30/13: NCUA has filed suit in Federal District Court in Kansas against Morgan Stanley & Co., Inc. and other firms, alleging violations of federal and state securities laws in the sale of more than $566 million in mortgage-backed securities to the U.S. Central and WesCorp corporate credit unions.

Announcement HTML
Complaint PDF

NCUA issues prohibition orders

2013-08-30T12:55:00.000-04:00

08/30/13: Seven persons are barred from future participation in the affairs of any federally insured financial institution. NCUA.

Announcement HTML
All NCUA prohibition orders HTML
Summary of most common types of orders, links to bank agency orders HTML

Cordray ratifies actions taken during recess appointment

2013-08-30T12:53:00.002-04:00

08/30/13: Richard Cordray has affirmed and ratified actions he took while CFPB director under a recess appointment. He was confirmed to the director post this July. Consumer Financial Protection Bureau.

Notice PDF Text

FDIC update of failed institutions list

2013-08-30T12:52:00.002-04:00

08/30/13: Update to Notice of Financial Institutions for Which the Federal Deposit Insurance Corporation Has Been Appointed Either Receiver, Liquidator, or Manager. Names two banks closed 08/23/13. FDIC.

Notice PDF Text

FTC final rule, telemarketing sales rule fees

2013-08-30T12:51:00.000-04:00

08/31/13: Telemarketing Sales Rule Fees. Final rule. Effective 10/01/13. This increases the fees to entities accessing the National Do Not Call Registry. Federal Trade Commission.

Notice PDF Text