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Missouri Makes First Hike the Hill of 2012

Jan
20
Missouri Makes First Hike the Hill of 2012

Missouri credit union leaders visited with federal lawmakers as part of the first credit union Hike the Hill of 2012 in Washington, D.C.   The event began with a

Posted By Amy McLard read more

CFPB Publishes Mortgage Exam Procedures

Jan
18
CFPB Publishes Mortgage Exam Procedures

The Consumer Financial Protection Bureau (CFPB) published its Mortgage Origination Examination Procedures on January 11. These procedures are a field guide for CFPB examiners looking at mortgage originators in both the bank and nonbank sectors of the industry.

Posted By abucaida@mcua.org read more

Missouri Credit Unions CFPB Meeting Following New Director Appointment

Jan
09
Missouri Credit Unions CFPB Meeting Following New Director Appointment

Missouri credit union leaders are scheduled to meet with members of the Consumer Financial Protection Bureau (CFPB) staff less than two weeks after President Barack Obama appointed Richard Cordray as CFPB Director.  The meeting will take place during the Missouri Hike the Hill on January 17.  Missouri representatives will meet with Elizabeth Vale, who heads CFPB’s efforts with credit unions and community banks.

Posted By Anonymous (not verified) read more

Nonbank Supervision Program Launched by CFPB

Jan
07
Nonbank Supervision Program Launched by CFPB

On the heels of President Obama's recess appointment of Richard Cordray as the Director of the CFPB, the CFPB announced the launch of its nonbank supervision program. A link to the CFPB's press release is located here.

Posted By Anonymous (not verified) read more

CFPB Director Richard Cordray Reaches Out to CUNA/Leagues

Jan
07
CFPB Director Richard Cordray Reaches Out to CUNA/Leagues

The new Director of the Consumer Financial Protection Bureau Richard Cordray has contacted Leagues and others to begin a dialogue on key issues and concerns. Yesterday, CUNA staff attended a discussion by Director Cordray, who was appointed by President Obama in a recent recess appointment.

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ATM Fee Lawsuits on the Rise

Dec
22
ATM Fee Lawsuits on the Rise

 

Credit unions in Texas and Louisiana are facing lawsuits this month for failing to properly disclose ATM fees. New York resident Don Anderson is alleging violations of the disclosure provisions of the Electronic Funds Transfer Act (EFTA), also known as the Federal Reserve Regulation E. 

When credit unions charge a fee to a consumer using a non-credit union ATM network card or debit card, Section 205.16 of the EFTA requires:

Posted By abucaida@mcua.org read more

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