Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
NASCUS, CFPB Sign Memorandum Of Understanding
WASHINGTON (5/22/13)--The National Association of State Credit Union Supervisors and the Consumer Financial Protection Bureau "will continue to endeavor to promote consistent examination procedures and effective enforcement of state and federal consumer laws and to minimize regulatory burden on state credit unions" under the terms of a new memorandum of understanding (MOU).

Click to view larger imageCFPB Deputy Director Steve Antonakes, left; Mary Martha Fortney, NASCUS president/CEO; and John Ryan, Conference of State Bank Supervisors president/CEO, pose after signing a memorandum of understanding. (Photo by Randy Jonoski provided by NASCUS)
NASCUS said the MOU, signed Tuesday by representatives from both groups, "provides that state regulators and the CFPB will consult each other regarding the standards, procedures, and practices used by state regulators and the CFPB to conduct compliance examinations of credit unions."

The MOU will help NASCUS and the CFPB avoid wasting time and resources, NASCUS said in a release.

"As we are committed to reducing regulatory burden and increasing examination efficiencies while protecting America's state credit union members, NASCUS is pleased to sign this MOU," Mary Martha Fortney, NASCUS president/CEO, said.

For the full NASCUS release, use the resource link.
Other Resources

NASCUS Release
RSS print
News Now LiveWire
The Hill reports House Republicans plan to delay Aug. recess to stay in D.C. until they have enough votes to pass bill on border crisis.
11 hours ago
The FHLBs of Des Moines and Seattle announce they have entered into an exclusivity arrangement regarding potential merger of the 2 entities.
11 hours ago
SunCorp and @AlloyaCorp have announced their intent to merge.
14 hours ago
.@TheNCUA bars former employee of Southwest Communities FCU,Melissa Rosing,from work at any federally insured FI. http://t.co/owtVnPxVZT
14 hours ago
Fryzel added @TheNCUA is fed. governmt, thereby will B criticized, but always tried 2 do what is right. McWatters still 2 B sworn in.2of2
16 hours ago