Items Tagged with 'Credit union'

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Mortgage Lending Services will change its name to TruStone Home Mortgage, beginning in the New Year. This new name will better reflect its relationship to parent company, TruStone Financial Federal Credit Union.  

Are you prepared for most of the 2015 updates to the Home Mortgage Disclosure Act rule take effect in January 2018? If not, you might not be alone. Credit unions are asking the CFPB for more time to implement the coming rules.

When Richard Cordray officially resigned as director of the CFPB last month, the agency was thrown into disarray after a fight emerged over who would replace Cordray, with Democrats on one side and Republicans on the other. Now, Democrats have what may seem like an unlikely ally in their fight over who's leading the CFPB – a financial institution that is regulated by the CFPB.

With the future of the CFPB up in the air now that Director Richard Cordray will step down by the end of the month, the National Association of Federally-Insured Credit Unions took the opportunity to reiterate a message the group has long stressed: Credit unions are over-regulated. NAFCU outlined nine areas in which the bureau could improve its operations and provide some relief to credit unions.

The number of battlefronts where Equifax will be forced to fight back in the wake of its massive data breach just grew, again. Now, the Credit Union National Association, a trade group that represents credit unions, is joining Massachusetts, San Francisco and Chicago in suing Equifax, on behalf of its members.

This amended final rule also contains a number of clarifications, technical corrections, and minor changes to the HMDA regulation. The announcement officially gives the industry less than half a year to make the adjustments and become compliant. Ready. Set. Go.

Fresh off asking the Consumer Financial Protection Bureau to give it supervisory authority over the nation’s largest credit unions, the National Credit Union Administration announced a major restructuring plan that will see the agency close two of its five regional offices and eliminate some agency offices with “overlapping” functions.

California credit unions witnessed an uptick in mortgages over the past year, according to the latest snapshot report from the California Credit Union League. However, despite a record high in mortgage dollar amount, credit unions posted decrease in originations. Check out the full report for details.

After serving in the position as acting board chairman, President Donald Trump officially named J. Mark McWatters as chairman of the National Credit Union Administration Board, effective June 23. The decision makes McWatters the tenth chairman of the association.