WASHINGTON—Consumers continue to report servicing problems when they are unable to make mortgage payments, according to the CFPB’s latest monthly consumer complaint snapshot.
Fresh Today
ST. PETERSBURG, Fla.—Any issuer of credit must submit their current credit card (consumer) agreements to the CFPB via email to CardAgreements@consumerfinance.gov no later than May 2, PSCU is reminding.
ARLINGTON, Va.—In advance of a hearing Tuesday on business tax reform, NAFCU urged the leaders of the Senate Finance Committee to protect credit unions’ federal tax exemption.
ARLINGTON, Va.—The CFPB’s interim final rule broadening the availability of certain qualified-mortgage rule exceptions for small creditors that operate in rural or underserved areas should provide much-needed regulatory relief to credit unions and their members, stated NAFCU Monday in a comment letter to the Bureau.
BIRMINGHAM, Ala.–A lawsuit filed by former employees of the now conserved Alabama One Credit Union now also involves one of the biggest alleged scandals: an affair between Gov. Robert Bentley and Rebekah Caldwell Masson, who worked as his aide.
ARLINGTON –The methodology for NCUA’s overhead transfer rate (OTR) is “severely flawed,” not to mention “arbitrary, capricious, and inequitable to federally insured, state chartered credit unions,” according to a comment letter sent to the agency by the National Association of State Credit Union Supervisors.
ARLINGTON, Va.—In comment letters, NAFCU President and CEO Dan Berger urged NCUA to be fully transparent about the methodologies behind its operating fees and the overhead transfer rate (OTR), and further urged that the agency board take back oversight of both mechanisms.
WASHINGTON—In a comment letter to NCUA on the operating fee schedule methodology and overhead transfer rate, CUNA suggests the agency is attributing too many activities to “insurance-related costs” and suggests an alternate model for the OTR.
DES MOINIES, Iowa–Fraud detection and prevention strategies executed by payments processor TMG saved its financial institution clients more than $40 million in potential fraud losses in 2015, according to the company.
ALEXANDRIA, Va.–Low-income credit unions seeking support to grow, train staff and improve security should consider applying for Community Development Revolving Loan Fund assistance grants from the National Credit Union Administration, according to the agency.