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FinCEN Public Hearing on the Customer Due Diligence ANPR

Aug
06
FinCEN Public Hearing on the Customer Due Diligence ANPR

On Tuesday, July 31, the U.S. Treasury Financial Crimes Enforcement Network’s (FinCEN’s) held a public hearing on the customer due diligence (CDD) Advance Notice of Proposed Rulemaking (ANPR) that was issued in March 2012.  The hearing included participants from the U.S.

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MFOEL Webinar August 15

Aug
06
MFOEL Webinar August 15

A number of credit unions remain concerned about multi-featured open-end lending (MFOEL) following the issuance of National Credit Union Administration's (NCUA) letter to federal credit unions last month (NCUA Letter No. 12-FCU-02).

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NCUA Holds Final Listening Session

Aug
06
NCUA Holds Final Listening Session

Chairman Matz addressed a number of issues at National Credit Union Administration's (NCUA) sixth and final listening session in Denver earlier in the week of July 30, such as concern

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CFPB Issues: CUNA's CHART and Advocacy

Aug
06
CFPB Issues: CUNA's CHART and Advocacy

Credit unions and leagues are very concerned about the number, scope, and heft of current and developing Consumer Financial Protection Bureau (CFPB) regulations. The Credit Union National Association (CUNA) shares those concerns.

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NACHA Resource on FFIEC Internet Banking Authentication

Jul
27
NACHA Resource on FFIEC Internet Banking Authentication

On July 19, 2012, NACHA –The Electronic Payments Association released a resource for financial institutions regarding the implementation of the Federal Financial Institutions Examination Council (FFIEC) Internet Banking Authentication guidance from June 2011.  NACHA’s resource is intended to identify sound business practi

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FSOC "Systematically-Important" Financial Market Utilities; Fedwire & Payments System Risk

Jul
27
FSOC "Systematically-Important" Financial Market Utilities; Fedwire & Payments System Risk

On July 18, 2012, the Financial Stability Oversight Council (FSOC) issued a statement and designated eight “systemically important” financial market utilities (FMUs) that would be subject to heightened risk management standards.  Chairman Matz represents the National Credit Union Administration on the FSOC, which includes the U.S. Treasury, Federal Reserve Board, and other financial regulators.  However, the policies of the FSOC as currently developed do not apply to credit unions.

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2012 Missouri State Legislative Wrap-up

Jul
26
2012 Missouri State Legislative Wrap-up

2012 Missouri State Legislative Wrap-up

The Missouri General Assembly passed several bills that have impact for credit unions and their members in the 2012 legislative session.  An overview of the legislation is below. The effective date for new laws is August 28, 2012.

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CUNA Comment Letters

Jul
26
CUNA Comment Letters

CUNA Comments on CFPB Proposal re Disclosure of Consumer Complaint Data

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Governor Jay Nixon Meets with Missouri Credit Unions

Jul
25
Governor Jay Nixon Meets with Missouri Credit Unions

Governor Jay Nixon Meets with Missouri Credit Unions

At a meeting with Missouri credit union representatives, Governor Jay Nixon (D) recognized the important role credit unions play in Missouri’s economic and financial landscape.

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GAO Study on SCRA Compliance

Jul
25
GAO Study on SCRA Compliance

On July 17, 2012, the Government Accountability Office (GAO) published a report entitled "Mortgage Foreclosures:  Regulatory Oversight of Compliance with S

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