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October 21, 2014

NEW: Fed. regulators approve final QRM rule

Washington
Federal regulators have approved a final qualified residential mortgage (QRM) rule, which requires investment banks to hold at least 5% of a loan's risk on their books when securitizing loans unless the loans meet the definition of a QRM. ReadMore

Crapo: Bold reg. reforms could help small FIs survive

Washington
Small financial institutions are disappearing from America's financial landscape due to "an ever-increasing regulatory burden," says Sen. Mike Crapo (R-Idaho). Crapo calls for "a frank discussion about what regulatory burdens mean for financial institutions and the communities they serve." ReadMore

FIs can post privacy notices online under new CFPB rule

Washington
A rule allowing financial institutions that meet certain requirements to post annual privacy notices online has been finalized by the Consumer Financial Protection Bureau. ReadMore

Debit card use wanes due to security fears: TSYS report

CU System
Consumer fears about security are leading to a drop in debit-card use, according to a new report from TSYS. Still, debit cards remain the most popular form of payment, the study noted. ReadMore

CUNA Attorneys Conference: Where CUs stand on data breaches, RBC, legal cases

Washington
Speaking to a packed house, CUNA Executive Vice President and General Counsel Eric Richard opened CUNA's Attorneys Conference with a update on some of the most pressing regulatory issues facing credit unions. ReadMore

Candidates in Calif., Fla. get strong CU backing

Washington
Credit union-friendly candidates in tight races in California and Florida are the latest to receive CUNA support this election season. ReadMore

Calif. CUs meet with CFPB advisor on HMDA proposal, more

CU System
In a meeting with roughly 15 credit union leaders here, Jennifer Stockett of the Consumer Financial Protection Bureau said her agency might need to look more deeply into its Home Mortgage Disclosure Act proposal for a full understanding of the potential impact on small creditors. ReadMore

Will shoppers avoid data-breached retailers this holiday season?

CU System
Nervous over recent data breaches that have compromised tens of millions of pieces of personal and personal payment data in recent months, a poll has found that nearly half of credit and debit card users will be leery to shop this holiday season at those stores where attacks have occurred. ReadMore
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