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Consumer Financial Protection Bureau

Kansas and Missouri U.S. Senators Sign CFPB Exemption Authority Letter

Jul
19
Kansas and Missouri U.S. Senators Sign CFPB Exemption Authority Letter

All four U.S. Senators from Missouri and Kansas signed a letter to the Consumer Financial Protection Bureau (CFPB), urging the agency to use its exemption authority when implementing regulations. U.S. Senators Roy Blunt (R-Missouri), Claire McCaskill (D-Missouri), Jerry Moran (R-Kansas) and Pat Roberts (R-Kansas) joined 66 other senators in signing the letter.

Posted By Susan Dyer read more

Comment Letters due August 10 for CFPB Proposed Annual Privacy Notification Requirement

Jul
18
Comment Letters due August 10 for CFPB Proposed Annual Privacy Notification Requirement

The annual privacy notice requirement was lifted by Congress in December 2015, when the issue was included in the Fixing America’s Surface Transportation (FAST) Act. Missouri U.S. Congressman Blaine Luetkemeyer (R-District 3) sponsored the privacy notice legislation, and credit unions strongly supported the effort. The bill took effect upon signing, which means annual privacy notices are no longer required UNLESS there is a change in policy. This will save financial institutions unnecessary compliance costs.

Posted By Susan Dyer read more

CFPB Exemption Authority Letter Circulates in U.S. Senate

Jul
11
CFPB Exemption Authority Letter Circulates in U.S. Senate

A letter urging the Consumer Financial Protection Bureau (CFPB) to utilize its exemption authority for credit unions and other smaller financial institutions is circulating in the U.S. Senate. U.S. Senator Jerry Moran (R-Kansas), U.S. Senator Roy Blunt (R-Missouri) and U.S. Senator Claire McCaskill (D-Missouri) have already signed on to the letter.

Posted By David Kent read more

Nominations Open for CFPB Advisory Groups

Jan
26
Nominations Open for CFPB Advisory Groups

Kansas and Missouri credit unions have a great opportunity to speak up for their members -  nominations for membership to the Consumer Financial Protection Bureau's (CFPB) Credit Union Advisory Council (CUAC) and Consumer Advisory Board (CAB) are open until February 29, 2016.

Posted By Nora Revie read more

CFPB Delays Mortgage Disclosures to October 1

Jun
23
CFPB Delays Mortgage Disclosures to October 1

The Consumer Financial Protection Bureau (CFPB) has announced a two-month delay of a new rule, which would combine two mortgage disclosure regimes—the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA). The news broke during the Missouri Credit Union Association’s (MCUA) statewide training seminar that addressed TILA-RESPA (also known as TRID).

Posted By Nora Revie read more

CFPB Calls for More Missouri Input

Jun
15
CFPB Calls for More Missouri Input

If your credit union offers overdraft protection (ODP) and has not participated in the Missouri Credit Union Association (MCUA) ODP survey – the Consumer Financial Protection Bureau is requesting your credit union’s input.

Posted By Nora Revie read more

Privacy Notification Change May Affect Your Credit Union

Jan
09
Privacy Notification Change May Affect Your Credit Union

Sending out annual privacy notices is a costly regulatory requirement that can also create confusion with members. While the 113th Congress did not pass privacy notification legislation by year-end 2014, there is an alternative option available to Missouri’s credit unions via a new rule from the Consumer Financial Protection Bureau (CFPB). 

Posted By Nora Revie read more

CUNA Seeks Input from Credit Unions

Oct
28
CUNA Seeks Input from Credit Unions

The Credit Union National Association (CUNA) seeks input from credit unions planning to stop international remittance transfers. The Consumer Financial Protection Bureau's (CFPB) international remittance transfer rule became effective on October 28, 2013.  

Posted By Sharon Bahr read more

CFPB Issues New Clarifications to Mortgage Rules

Jul
16
CFPB Issues New Clarifications to Mortgage Rules

Last week, the Consumer Financial Protection Bureau​ (CFPB) finalized corrections, clarifications, and amendments to its Ability-to-Repay and mortgage servicing rules.

Posted By Nora Revie read more

MCUA Supports CFPB Efforts to Delay Credit Insurance Prohibition

May
30
MCUA Supports CFPB Efforts to Delay Credit Insurance Prohibition

The Missouri Credit Union Association (MCUA) filed a letter strongly supporting the Consumer Financial Protection Bureau (CFPB)

Posted By Nora Revie read more

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