Proposed Regulations

The CFPB is seeking input on overdraft protection programs. The information the agency gathers will be used to inform future rulemakings regarding overdraft protection programs. The Federal Reserve finalized two rules in 2009 that made significant changes to the way depository institutions market and disclose fees associated with overdraft protection. The CFPB is interested in gathering information regarding how those changes were implemented and the practical impact for consumers.

The NCUA has issued an Advance Notice of Proposed Rulemaking (ANPR) regarding the ability of federal credit unions (FCUs) to independently engage in certain derivative activities for purposes of mitigating interest rate risk.

The proposal supplements a comprehensive final rule on remittance transfers that the Consumer Financial Protection Bureau (CFPB) published simultaneously.

The NCUA has issued a Notice of Proposed Rulemaking (proposed rule) that addresses tracking and reporting of Troubled Debt Restructured (TDR) loans, and loan workout and nonaccrual policies.

The Consumer Financial Protection Bureau (CFPB) is seeking comment on regulations under its jurisdiction that are outdated, unduly burdensome or unnecessary and which would benefit from streamlining.

The proposed rule would institute certain concentration limits on loan participations, including: (1) a limit on the aggregate amount of loan participations that may be purchased from one originating lender to 25 percent of the credit union's net worth; and (2) a limit on loan participation purchases involving one borrower or a group of associated borrowers to 15 percent of the credit union's net worth.

The proposed rule would modify the Regulatory Flexibility program (RegFlex) program by expanding the program to apply to most federal credit unions.

The NCUA has issued an Advance Notice of Proposed Rulemaking (ANPR) as part of the process of addressing credit unions' access to liquidity sources in times of emergency.

The ANPR addresses the definition of “governmental plan” for purposes of determining whether an employee benefit plan is a governmental plan.

The Consumer Financial Protection Bureau (CFPB) is proposing to publish data on the complaints it receives from consumers regarding credit cards.

The discussion paper contains two alternative mortgage servicing models that would apply only for mortgages guaranteed by Fannie Mae and Freddie Mac.

The proposed changes are designed to simplify the administration of reserve requirements under Regulation D.

For the past 15 years, NACHA's rules have provided that the effective date of a debit entry must be one banking day in the future and the effective date of a credit entry must be one or two banking days in the future. Although NACHA recognizes that the one- and two-banking day standard is still appropriate in recurring payments for which the effective date is known in advance, it reasons that the ACH Network carries other types of transactions for which expedited processing and settlement (EPS) terms are also appropriate.

The Bank Secrecy Act (BSA) requires credit unions to file reports that are determined to have a high degree of usefulness in criminal, tax, and regulatory matters. The reports are also used to conduct intelligence activities to protect against terrorism, and to implement counter-money laundering programs and compliance procedures.

The CFPB is requesting information on the products and services (and associated programs and policies) currently being offered to meet the financial needs of servicemembers and their families.

Following the onset of the corporate credit union crisis, NCUA overhauled part 704 of its rules on corporate credit unions. See, Final Regulation 10-EF-15 (2010 Final Rule). The proposed rule would make a number of technical changes to the 2010 Final Rule.

The Federal Reserve Board (the Board) issued an interim final rule, which authorizes a fraud adjustment of one cent to the base debit card interchange fee. In a separate final rule, the Board set the base interchange fee at 21 cents plus five basis points of the transaction. The one cent fraud adjustment would be in addition to the 21 cents plus five basis points of the transactions. Thus, issuers eligible for the fraud adjustment would receive 22 cents for each transaction plus five basis points of the transaction.

The interim final rule is modeled on the uniform rules and procedures for administrative hearings (Uniform Rules) that have been adopted by the prudential regulators pursuant to the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA). The rules also borrow from adjudication rules used by the Federal Trade Commission (FTC) and the Securities and Exchange Commission (SEC).

The interim final rule establishes procedures for members of the public to obtain information from the Bureau of Consumer Financial Protection (CFPB) under the Freedom of Information Act (FOIA).

The interim rule describes and establishes the Bureau of Consumer Financial Protection (CFPB) policies and procedures that apply in non-adjudicative settings.

The proposed rule would extend NCUA's regulatory reach over Credit Union Service Organizations (CUSOs) by requiring CUSOs to submit financial reports to the NCUA.