Mountain West News
CUNA to NCUA: Lighten CU Reg Burden |

The National Credit Union Administration could be moving in the right direction with its proposal to eliminate the Regulatory Flexibility program and, instead, allowing federal credit unions to engage in activities permitted by the existing RegFlex rule without the need to apply for RegFlex designation. However, the agency should go further and give credit unions even greater freedom from burdensome regulations, CUNA said.  More

Liquidity Rule Changes 'Too Broad,' CUNA Says |

CUNA does not support the National Credit Union Administration's proposed emergency liquidity regulations for federally insured credit unions because CUNA does not agree that a new rule on liquidity is needed.  More

CUNA Warns of Burden in Reg B Changes |

Although the Consumer Financial Protection Bureau's interim final rule implementing the Equal Credit Opportunity Act substantially duplicates the Federal Reserve Board's Regulation B, the few changes suggested by the bureau could impose unnecessary reporting burdens on credit unions, CUNA warned the bureau. More

FinCEN Updates E-Filing Website |

The Financial Crimes Enforcement Network (FinCEN) has updated the BSA E-Filing System’s User Test System Web site to allow for testing submissions of batch and computer-to-computer filings of FinCEN’s new Currency Transaction Report (CTR) and Suspicious Activity Report (SAR).  Read more.

CFPB Adjusts HMDA Reporting Threshold |

The Bureau of Consumer Financial Protection (CFPB) yesterday published a final rule amending the official commentary that interprets the requirements of Regulation C (Home Mortgage Disclosure) to reflect a change in the asset-size exemption threshold for depository institutions based on the annual percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI–W).  The exemption threshold has been adjusted to increase to $41 million from $40 million.  Depository institutions with assets of $41 million or less as of December 31, 2011 are exempt from collecting data in 2012.  Read more.

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