Compliance Blog

Written by Steve Van Beek

I've discussed before the need for credit unions to "learn a new regulator" now that the CFPB has authority over consumer laws and regulations. On July 21, I asked a few questions about how the CFPB will use its new powers.  Specifically, asking how the CFPB will communicate with the financial industry - including credit unions.   

It doesn't take long to realize the CFPB's website is designed to provide information to consumers.  For example, the CFPB's guidance page is tucked on the bottom of its website.  The "notice and comment" page is even farther down the bottom footer of the page.  The notice and comment page also seems to be missing the latest round of the CFPB's proposed rules.

Fortunately, the CFPB's rulemakings are available in the Federal Register under the CFPB.  This page includes all the CFPB's proposed and finalized rules.  

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There is an option to "subscribe" to the Federal Register updates.  Choosing this option will allow you to receive an update when the CFPB publishes a rulemaking in the Federal Register (proposal or final rule).  To subscribe, go to this page and click on the "Subscribe" button on the right-hand column.  You can subscribe by email or RSS feed.

There is also a similar page for NCUA.  You can follow the same "subscribe" process using this page for NCUA rulemakings.

Note:  If you subscribe via email, be sure to look for an email sent by the system to confirm your subscription.  The updates will not be activated until you respond to the email confirming your subscription (be sure to check your SPAM/junk box if you don't see the email right away).