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Posts for Tag: Fed. Reserve
Fed Approves Revised Swipe Fee Plan
After months of waiting and hard fought legislative and regulatory battles, yesterday the Fed revised plan moves from a flat 12 cent cap to a 21 cent fee with some add-ons.Read More
Senate to Hold Hearing on Housing Finance Reform
This week’s Federal Legislative Week in Review outlines work on the federal mortgage standards bill, the Fed’s pending Interchange amendment, and the NCUA’s prepayment plan.Read More
CUs Must Prepare for Rising Interest Rates, says Berkeley Professor
It’s a central banker's worst nightmare: The economy is stagnating with a weak labor market, yet inflationary pressures are building. How should CUs prepare?Read More
What's Next for Interchange?
This Federal update reviews the Federal Reserve's next steps on the interchange issue and everything that was going on in DC last week.Read More
NWCUA to Fed: Changes Make Escrow Accounts Impossible
The Association submitted a comment letter urging the agency to think about the rule’s effect on credit unions and specialized lenders.Read More
Fed Invites Comment on Two Bankruptcy-Related Studies That It Will Conduct
The Fed is seeking public comment on how to address the specific issues that it is required to study, as well as any research or empirical data that it should take into account.Read More
Tagged:
Regulation
,
Fed. Reserve
| Posted On: 05/03/2011
Compliance Burden Has Grown by 19,000 Pages since 2009, NWCUA Finds
Since January 2009, thousands of pages of regulations and rules have been issued by various agencies, including the Federal Reserve and NCUA, that credit unions must comply with.Read More
Fed Proposes Rule Under Reg. Z Pertaining to Ability to Repay Mortgage and Minimum Underwriting Standards
The proposal would apply to all consumer mortgages except home equity lines of credit, timeshare plans, reverse mortgages, or temporary loans.Read More
Credit Scores to be Required on Adverse Action and Risk Based Pricing Notices
The proposed rules from the Fed and the FTC will come into effective on July 21, 2011, as part of the credit score disclosure requirements in the Dodd-Frank Act.Read More
Tagged:
Compliance
,
Fed. Reserve
| Posted On: 04/21/2011
Fed Increases Jumbo Mortgage Escrow Threshold
While the Fed increased the APR threshold, CUNA notes that credit unions have the option to continue to follow the lower threshold that applied prior to the change.Read More
Tagged:
Compliance
,
Fed. Reserve
| Posted On: 04/19/2011
