SAFE Act Update; This and That
Posted by Anthony Demangone
The long-awaited SAFE Act registration system appears to be nearly ready.  NCUA recently announced that the initial registration period is expected to begin around January 31, 2011 and end on July 29, 2011. NAFCU has a webcast scheduled for January 12, 2011 to help credit unions understand the process.Â
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Here are a number of other items that accumulated over the Holidays.
- The latest "Current Issues in Credit Unions" Podcast is ready.
- Felix Salmon points out a wee bit of irony in this blog post: If the CFPB is all about clear disclosures, why is this press release a 69-word sentence?
- My old contracts professor thinks Congress is pushing many Americans to loan sharks. (WSJ, subscription needed.) (Hat tip to Suzie.)
- Felix Salmon takes issue with NCUA's union contract, and NCUA, for that matter.
- NCUA will push for the following legislative fixes during this Congress: 3rd party vendor examination authority, increasing the MBL limit, supplemental capital, and the extension of the statute of limitations provision applicable to actions filed by NCUA as conservator/liquidating agent of a credit union. The list comes from testimony provided by NCUA Chairman Debbie Matz. See pages 33-35.
- Today, NCUA will host a free webinar on troubled debt restructurings (TDRs).Â