Consumer Finance Monitor Podcast Episode: Understanding the Credit Card Competition Act a/k/a Durbin 2.0
Consumer Protection and Safety and Soundness Perspective of Credit Union Regulation - The Consumer Finance Podcast
Banks are Borrowing Less from the Federal Reserve - “’So the fact that they are now borrowing less means that they’re trying to get back to normal.’” Why this is important: Investors and commentators look to several...more
NCUA Extends Flexibility for Federal Credit Unions - NCUA has issued Letter to Federal Credit Unions 21-FCU-06. In its letter, NCUA notes the continued need for flexibility when conducting meetings during the COVID-19...more
The Woolard Review team has acted swiftly in publishing their recommendations to the FCA, publishing their findings just over two months after the initial Call for Input closed. The Review contains a number of recommendations...more
COVID-19: PRA letter to credit unions and direction modifying minimum provisioning requirements - On 7 October 2020, the UK Prudential Regulation Authority (PRA) published a letter to directors of credit unions on...more
As if COVID, wildfires, and heat weren’t enough, California franchisors and franchisees suffered another gut punch when the legislature rejected a proposed franchise exemption to AB-5. When AB-5 was enacted in 2019, to the...more
Governor Andrew Cuomo signed S8428/A10530 and S8243-C/A10351-B into law on June 17, 2020. Collectively, in relevant part, the legislation creates N.Y. Banking Law § 9-x, which relates to residential forbearances as a result...more
In This Issue. The Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert about the scope and content of examinations OCIE plans to conduct of various...more
In response to the requests made by representatives of different financial entities regulated and supervised by the National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores or “CNBV”), the authority...more
As more states issue stay at home orders and mandatory lockdowns, Credit Unions must institute business contingency plans and adapt to a remote workforce. The lack of face to face communication with customers can heighten...more
Governor Evers’ Safer at Home order took effect in Wisconsin at 8:00AM on Wednesday, March 25, and will remain in effect until 8:00AM on April 24. Every person is ordered to remain at home, though exception is made for the...more
Since March 18, 2020, the following updates have been released by the Government of Alberta and the Canada Revenue Agency (CRA) regarding their respective economic relief plans to help mitigate the effects of the COVID-19...more
We previously wrote about the New York Department of Financial Services (NYDFS) demand that all regulated companies file descriptions of their preparedness plans, financial risk management plans and assessments, in connection...more
The COVID – 19 virus and efforts intended to slow or stop the spread of the virus have presented numerous challenges for credit unions – including, in many cases, first-time execution of business continuity plans; protecting...more