Compliance Blog

Aug 05, 2013
Categories: Home-Secured Lending

Metsger Confirmed for NCUA Board; ATM Fee Disclosure in NY; NCUA Reg Alert on Reg B

Written by Steve Van Beek

NCUA Board. Late Thursday, the Senate confirmed, in action taken by unanimous consent, Rick Metsger for the National Credit Union Administration Board. Metsger, a Democrat, succeeds Gigi Hyland who left the Board in October of 2012. Metsger's term will run until August 2, 2017.

Current Board Member Michael Fryzel, the lone Republican on the Board, recently announced his decision to remain on the NCUA Board until his successor is confirmed. Fryzel's term officially ended on Friday but NCUA Board Members have the ability to remain until a successor is confirmed.  

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ATM Fee Disclosures - New York. On December 20, 2012, President Obama signed the ATM Fee Disclosure Bill which removed the federal requirement for an "on the machine" fee notice for ATMs (the CFPB officially amended Reg E in March). However, there are still state laws that could require this "on the machine" notice. New York was one of those states until action Thursday by Governor Andrew Cuomo to remove the requirement from New York law.   

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NCUA Regulatory Alert. Last Tuesday, Bernadette blogged about NCUA's recent Regulatory Alerts on Remittances, Garnishments and Escrow Requirements for HPMLs. Well, NCUA hasn't slowed down and they recently issued a Regulatory Alert on the Regulation B Appraisal Disclosure & Delivery Requirements (effective January 18, 2014). 

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Programming Note: Just a quick reminder that we'll be blogging on Mondays, Wednesdays and Fridays in August.Â