CFPB’s Contentious Credit Card Rule Will Face Stiff Challenge

CFPB’s Contentious Credit Card Rule Will Face Stiff Challenge

On March 5, the CFPB issued its final rule governing credit card late fees, reports David Baumann.

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Despite Earlier Success, Marijuana Banking May Be a Ways Off

Despite Earlier Success, Marijuana Banking May Be a Ways Off

With Congress recessed, any expectations for protections to financial institutions serving cannabis businesses will have to wait until 2024, and most lobbyists and Congressional staff suggest even that is unlikely.

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House Passes Resolution of Disapproval for CFPB’s Section 1071 Rule

House Passes Resolution of Disapproval for CFPB’s Section 1071 Rule

The House has passed a resolution of disapproval for the CFPB’s rule on Section 1071 of the Dodd-Frank Act, which would require credit unions to collect data on certain applications for credit. Emily Claus reports on the rule and what the next steps are.

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NAFCU Congressional Caucus Underway In D.C.

NAFCU Congressional Caucus Underway In D.C.

As NAFCU’s annual Congressional Caucus opens up in D.C. advocates are meeting with lawmakers to discuss key topics and issues facing the industry, reports Emily Claus.

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Economic Liberties Project: Junk Fees Create Unlevel Playing Field

Economic Liberties Project: Junk Fees Create Unlevel Playing Field

Arguing that junk fees are not just annoying, but also create an unlevel playing field, the American Economic Liberties Project on Monday released model legislation that would provide Congress and state legislatures tools to tackle the issue, reports David Baumann of CUCollaborate.

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House Financial Service Committee to Hold Hearing On Climate-Change Policies

House Financial Service Committee to Hold Hearing On Climate-Change Policies

On Tuesday, July 18th, the House Financial Service Committee will hold a hearing to discuss climate-change policy issues and whether financial regulators such as the NCUA can remain politically independent on the topic, reports Emily Claus.

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Advocating For Choice: Private Insurance

Advocating For Choice: Private Insurance

Per the Michigan Credit Union Act, all state-charted credit unions are required to use National Credit Union Share Insurance Fund (NCUSIF) as their deposit insurance provider. Julie Gessner argues this lack of choice only hurts members in the end and encourages legislative change.

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House Financial Services Committee to Consider CFPB Reform Legislation Ahead of Supreme Court Review

House Financial Services Committee to Consider CFPB Reform Legislation Ahead of Supreme Court Review

Continuing the never-ending debate on the Consumer Financial Protection Bureau, the House Financial Services Committee has announced that it will consider new legislation that would completely overhaul the organization’s structure ahead of the Supreme Court’s review of the case, reports Emily Claus.

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Monthly Board Meetings: Necessary or Burdensome?

Monthly Board Meetings: Necessary or Burdensome?

As legislation aims to reduce required board meetings from monthly to six times per year, Emily Claus discusses the potential benefits and ramifications of such a change, with input from two long-serving board members.

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House Passes Credit Union Board Modernization Bill

House Passes Credit Union Board Modernization Bill

The House has passed the CUNA-supported Credit Union Board Modernization Act, which would alter the current board meeting requirements from monthly meetings to a minimum of six meetings per year. Emily Claus reports.

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