News Topic: NAFCU

The CFPB asked whether 10-year-old consumer protections against overdrafts are onerous or unfair, especially to smaller financial institutions, but banking industry officials largely said any changes could invite new problems. ... Read full article

Accounting rules group is weighing whether to consolidate and push back deadlines for smaller firms to comply with credit-loss accounting change in light of concerns they will not be ready. ... Read full article

The NCUA proposed Thursday to put off until 2022 implementation of a rule that would require larger credit unions to hold more risk-based capital. ... Read full article

The agency's vote Thursday threatens to block many of the industry's communications with customers, though banks did win one concession. ... Read full article

A proposal to give the Consumer Financial Protection Bureau jurisdiction over credit unions with $10 billion or more of assets has sparked a war of words between the longtime foes. ... Read full article

The chairwoman of the House Small Business Committee promised to block action on the agency's budget unless it can justify its fee-hike request. ... Read full article

The regulator claimed Congress has already granted it the authority to define field-of-membership areas. ... Read full article

The Credit Union National Association believes the NCUA has not moved quickly enough to grant an 18-month exam cycle to credit unions with $3 billion or less in assets. ... Read full article

Credit unions historically have focused on laws that directly pertain to them, but in a break with that tradition, NAFCU is calling on Congress to re-introduce efforts to break up big banks. ... Read full article

The National Credit Union Administration is set to vote on revisions to its field-of-membership rule, even as it's entangled in a legal dispute with the American Bankers Association over the rule. ... Read full article

Bankers hope to claw back even more of the agency's rule rather than merely defend their partial victory in the judge's original split decision. ... Read full article

Efforts by financial institutions to track "beneficial ownership" data in advance of a regulatory deadline next month is complicated by the challenge of getting customers to cough up the information. ... Read full article

If the National Credit Union Administration appeals a judge's decision against part of its rule, it could help the ABA potentially upend other provisions. ... Read full article

Financial institutions and retail companies are trading barbs over which industry poses greater risk to sensitive customer information just as lawmakers are planning to take another stab at a data security bill. ... Read full article

Credit union executives talked up a pending regulatory relief effort while endorsing a radical shift in direction by the Consumer Financial Protection Bureau during a meeting with President Trump and other top White House officials on Monday. ... Read full article

The National Association of Federally-Insured Credit Unions and the Credit Union National Association sent a joint letter to Sen. Orrin Hatch on Wednesday defending the credit union charter and its tax status. ... Read full article

Fifty-two state bank trade associations sent a letter to Sen. Orrin Hatch, R-Utah, encouraging him to continue his review of the credit union tax exemption. ... Read full article

Credit union groups were scrambling Wednesday to respond to a letter from Senate Finance Committee Chairman Orrin Hatch questioning whether the industry had outgrown its income-tax exemption. ... Read full article