The National Credit Union Administration reminded Boards of Directors and CEOs of federally insured credit unions of their compliance obligation to collect and submit home mortgage data under the Consumer Financial Protection Bureau’s Regulation C ("Home Mortgage Disclosure Act").
News & Insights
The National Credit Union Association adopted amendments to regulations on indirect lending and leasing arrangements to members, "the purchase of loan participations and the purchase, sale, and pledge of eligible obligations and other loans."
The U.S. District Court for the Eastern District of Texas held that the CFPB's amendments to its supervisory operations and examinations manual to include “discrimination” under “unfair, deceptive, or abusive acts or practices” exceeds the agency's authority under Dodd-Frank.
The National Credit Union Administration notified all federally insured credit unions that as of September 1, 2023, they must report cyber incidents within 72 hours after becoming aware of the event or receiving a notification from a third party regarding a reportable incident.
The Federal Reserve Board, FDIC, OCC and National Credit Union Administration advised depository institutions to take steps to ensure access to contingency funding under a range of possible stress scenarios.