ROCKVILLE, Md.–The coronavirus pandemic has led to lower consumer spending, which has affected card volumes and prepaid card use.
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WASHINGTON—The United States District Court for the Central District of California has entered a stipulated final judgment resolving the Consumer Financial Protection Bureau’s allegations against Certified Forensic Loan Auditors, LLC (CFLA) and Andrew Lehman (Lehman), the agency reported.
ALEXANDRIA, Va.–This week’s NCUA board meeting was the last for Board Member J. Mark McWatters, who has served on the board since 2014, including a term as chairman from 2017-19.
ALEXANDRIA, Va.–NCUA has released new mid-year spending estimates showing all those examiners working from home has led to savings of approximately $7.2 million in its 2020 budget, with a few other areas showing minor increases.
ALEXANDRIA, Va.–The NCUA board has put out for 60-day comment a proposal related to its Operating Fee Schedule Methodology, with the key being the exclusion of Paycheck Protection Program loans when calculating the operating fee.
ALEXANDRIA, Va.–The NCUA board has voted 3-0 in favor of phasing in the new current expected credit loss (CECL) rule.
ALEXANDRIA, Va.–The NCUA board has voted 3-0 in favor of reinstating rules around field of membership and chartering that have been years in the making, after surviving numerous court challenges by bankers’ groups.
ALEXANDRIA, Va.–Bankers groups are expressing strong opposition to NCUA’s subordinated debt proposal, arguing it undermines the concept of cooperative ownership and puts the tax exemption at risk and that NCUA itself has acknowledged it could lead to greater losses to the insurance fund, among other points made.
ALEXANDRIA, Va.—The NCUA board is set to meet today when it is expected to finalize a rule to make its 2016 field of membership rule consistent with last year's decision from the U.S. Court of Appeals for the D.C. Circuit in the lawsuit brought by the American Bankers Association (ABA).
ATLANTA–The first African American to ever serve as president of a Federal Reserve Bank is calling racism a danger to the health of the American economy.