ALEXANDRIA, Va. (3/12/12)--The National Credit Union Administration has posted to its website an archived version of its recent virtual town hall webinar with Consumer Financial Protection Bureau (CFPB) Director Richard Cordray.
During the Feb. 5 webinar NCUA Chairman Debbie Matz noted that the agency continues to examine credit union derivatives issues, and a proposed rule on derivatives could be released in the first half of 2013.
Cordray previewed some of his agency's future plans during the webinar and noted a final version of the proposed remittance transfer regulations will be released in February or March, and will become effective 90 days after it is released. He also noted his agency is also considering giving credit unions that hold $2 billion or less in assets, and make more than 500 mortgage loans per year, safe harbor from portions of qualified mortgage/ability-to-repay regulations. (News Now
Also topics discussed during the webinar were:
- Mortgage servicing rules;
- NCUA's Regulatory Modernization Initiative;
- Implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act; and
- CFPB's proposed overdraft regulations.
More than 1,700 participants took part in the 90-minute webinar. The archived audio recording of the virtual town hall and a written transcript of the webinar are available by using the first resource link below.