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July 24, 2014

Matz alerts CUs: Some relief is coming down the pike

Washington
The National Credit Union Administration is planning to unveil three regulatory relief proposals in upcoming open board meetings. They will include plans to eliminate the 5% cap on a credit union's fixed assets, to modernize the member business lending rule and to update appraisal provisions, NCUA Chair Debbie Matz said Wednesday. ReadMore

Frank: CFPB examination threshold should be raised above $10B

Washington
Former Democratic Rep. Barney Frank said he supports raising the threshold for examination by the Consumer Financial Protection Bureau to financial institutions above the current $10 billion-in-assets cutoff. ReadMore

Sens. Shelby, Begich: RBC proposal is solution in search of problem

Washington
Calling the National Credit Union Administration's risk-based capital proposal a solution in search of a problem, Sens. Richard Shelby (R-Ala.) and Mark Begich (D-Alaska) weighed in with letters to the agency. ReadMore

Banking sites' tough security being bested by hackers

Washington
Threats seem to be contained to banks in Austria, Japan, Sweden and Switzerland so far, but researchers at the computer security company Trend Micro report that there is a sophisticated, multistage attack by cybercriminals that can get around two-factor authentication systems. ReadMore

CFPB, FTC, 15 states sweep in on foreclosure relief scammers

Washington
The Consumer Financial Protection Bureau, the Federal Trade Commission and 15 states have announced sweeping actions against foreclosure relief scammers that they say used deception to prey on struggling homeowners who were facing foreclosures. ReadMore
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