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WASHINGTON–In a letter to the CFPB on a proposal to amend the Regulation X servicing rules, the Mortgage Bankers Association (MBA) and the National Mortgage Servicing Association said they support efforts to clarify the complex Reg X provisions but there are “elements in the proposal that require further attention, and several critical improvements.”

BELFAST, Ireland–New research among Ireland’s citizens has found 58% of people who do not use a credit union as their main financial institution would consider switching their day-to-day banking if they were aware of the full range of CU services available from them. One big roadblock: Many don’t believe CUs offer competitive digital offerings.

SPRINGFIELD, Ill.–State-chartered credit unions and banks and most mortgage companies in Illinois are now subject to a new Community Investment Act law.

KEY WEST, Fla.–In what he said were his first remarks before a live audience in a year, NCUA Board Member Rodney Hood told a NAFCU meeting here he believes attention to financial technology (fintech) should be a priority, and that the agency will have some related regulatory guidance coming in the near future.

NEW YORK–The country’s largest issuers are reporting cardholders are paying down their debt at levels not seen in years. While good news for consumers, for issuers the paydowns have meant a decline in income, and as a result many are spending more on marketing and loosening their underwriting standards.