ALEXANDRIA, Va.–In a change of opinion, NCUA’s general counsel has decided the “individual policy” requirement of credit union fidelity bonds does not prohibit a credit union from having a bond also covering its CUSO, provided the credit union owns at least 50% of the CUSO or the service organization otherwise meets the definition of a “nominee,” according to an opinion letter made public by the agency.
WASHINGTON—The CFPB has issued an interim final rule intended to give mortgage servicers more flexibility when communicating about foreclosure prevention options with borrowers who have requested a cease in communication.
ARLINGTON, Va.—Vehicle sales increased dramatically in September, rising to 18.57 million seasonally adjusted, annualized units, up from August's 16.14 million.
WASHINGTON—The Senate Special Committee on Aging hosted a hearing as it seeks answers on how various entities are combatting robocalls and why so many Americans are still targeted by scams.
TAMPA, Fla.–CSCU has launched a social media campaign in celebration of International Credit Union Day.
WASHINGTON—CUNA has met with the CFPB and NCUA this week to seek support for the petition it filed last week with the Federal Communications Commission regarding the Telephone Consumer Protection Act (TCPA).
WASHINGTON—The Consumer Financial Protection Bureau has released a final version of its rule around short-term, small-dollar loans, which includes a cap of 36% on such loans, far below what many payday lenders charge.
WASHINGTON – CUNA has filed its lawsuit against Equifax over the data breach that has exposed personal and financial information on an estimated 145.5 million consumers.
SACRAMENTO—The California legislature has passed a bill (SB 33) that would prohibit the application of mandatory arbitration clauses for bank accounts that were created fraudulently.
WHITE SULPHER SPRINGS, Mont.–Vocal Credit Union has acquired the branch of Dutton State Bank here and re-opened it as a credit union office.
