Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
NEW: Exam Fairness Bill Introduced In Senate
WASHINGTON (UPDATED: 4/15/13, 4:25 P.M. ET)--Legislation that would improve the federal examination process for credit unions and other financial institutions has been introduced by Sens. Jerry Moran (R-Kan.) and Joe Manchin (D-W. Va.).

The exam fairness bill, backed by the Credit Union National Association, would:

  • Make available to financial institutions the information used to make decisions in their examination;
  • Codify certain examination policy guidance;
  • Establish an ombudsman at the Federal Financial Institution Examination Council to which financial institutions could raise concerns with respect to their examination; and
  • Establish an appeals process before an independent administrative law judge.
CUNA has called examination fairness legislation "a firm step in the right direction toward ensuring the federal financial institution regulatory agencies conduct fair exams which are consistent with the law and regulation and ensure safety and soundness."

A House version of similar legislation is expected to be released soon, perhaps as early as today.


RSS





print
News Now LiveWire
What role are #creditunions playing in @gatesfoundation's 2030 vision of financial services? Read #NewsNow Monday
13 hours ago
Consumers fear inaccurate info lingers on credit reports, says @FTC study Read @CUNA's News Now: http://t.co/RzNLMnaROO
15 hours ago
@PCUA has formed a @LinkedIn networking group for former bankers turned #creditunion employees.
15 hours ago
.@politico reports Democrats haven't picked the city yet, but their 2016 convention will be held the week of July 25.
15 hours ago
.@cuna, @DCUC_HQ urge @CFPB to exempt #CUs from changes to Military Lending Act rules cuz CUs aren't part of the targeted problem. NN Monday
17 hours ago