NCUA

The window to file demographic information required under the Home Mortgage Disclosure Act has been opened and the current state of emergency in California caused banking regulators to address impacted institutions. Find details about these developments and more in this regulatory roundup. Read on »

Federal regulators spend a large portion of the waning months of each year compiling reports on their activities and data collected pertaining to the industries they oversee and the state of their operations. In this regulatory roundup, you will find summaries of some of these reports that may hold details helpful to understanding the role they play in the housing and financial markets. Read on »

The National Credit Union Administration issued a warning to credit unions about overdraft and non-sufficient funds fee practices that may violate consumer protection laws. The agency described practices that create reputational, compliance, and legal risks for institutions and potential unavailable harm for consumers. Read on »

Regulatory agencies have increased their attention on the impact certain types of financial abuse can negatively impact not only people’s credit scores but their quality of life. Learn what several regulatory bodies have to say about one common form of financial abuse, and how one agency reimbursed consumers harmed by misuse of their personal credit information in this roundup. Read on »

With the holiday season upon us, financial professionals are mindful of the heightened risk of cybersecurity issues, as well as the end-of-year activities by their prudential regulators as they finalize their budgets and last-minute rulemakings. Read about these matters and more in this roundup. Read on »

In the waning weeks of the year, federal agencies are working to finalize budgetary reports and reviewing key metrics that will inform their strategic moves in the year ahead. Learn about some of the latest developments on these matters in this roundup. Read on »

Four prudential regulators testified before the House Financial Services Committee on Nov. 20 during which there were roughly as many questions about pending regulatory matters as there were about allegations of sexual harassment and other gross misconduct levied against government officials. Read on »

Federal financial regulators addressed the role of private entities in cultivating an effective landscape for innovative payment approaches, while also taking care to ensure consumers are protected in the event of one institution’s recent financial hardships. Learn about these matters and more in this regulatory roundup. Read on »

The Consumer Financial Protection Bureau ordered Navy Federal Credit Union to pay $95 million for charging illegal overdraft fees through its “Optional Overdraft Protection Service,” known as “OOPS.” Navy Federal issued a statement denying the alleged wrongdoing but agreed to pay the amount, which is the largest total the bureau has ever collected from a credit union. Read on »

VyStar Credit Union will pay $1.5 million to redress consumers harmed by the botched rollout of its online banking system. The charges stem from a coordinated supervisory effort between the Consumer Financial Protection Bureau and the National Credit Union Administration to uncover issues with the system and the consequences. Read on »