Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
CFPB restructure bill moves through committee
WASHINGTON (3/17/14)--Legislation that would grant credit unions and other lenders greater input into rural-area designations made by the Consumer Financial Protection Bureau has moved on to the full U.S. House after it was approved by the financial services committee late last week.

Rep. Andy Barr's (R-Ky.) H.R. 2672 would direct the CFPB to establish an application process determining whether a county should be designated as a rural area if the CFPB has not designated it as one.

The rural county designations determined by regulators can impact the types of products credit unions may offer their members in those areas.

"From our point of view, any time credit unions can gain an additional opportunity to provide input and inspire the process, we should do so," Credit Union National Association President/CEO Bill Cheney said last week.

Barr's bill was one of two pieces of credit union-related regulatory relief legislation that were sent to the U.S. House floor Thursday. (See related story: FHLB membership bill, others, could bring some CU relief: CUNA.)


RSS print
News Now LiveWire
#NewsNow: 2013 mortgage data shows 14.8 mil applications, 2.8 mil purchases and more. http://t.co/DId2VFrsEr
45 minutes ago
The story of @allegiancecu's Florence Rogers is captured in expanded OklaCity bombing memorial via @WSJLife http://t.co/CmF0xfPcJ4
1 hours ago
.@VACUL breaks ground for new HQ in Richmond #NewsNow http://t.co/cOC0rqqJ9o
2 hours ago
White House honors N.M. #creditunion employee for Hispanic fin. lit. #NewsNow http://t.co/22uAEd6ZJ9
2 hours ago
.@Community1stCU makes art (from hay) while the sun shines (pic 7) via @KCCINews http://t.co/7E2lg09Djw
2 hours ago