America’s Credit Unions encourages credit unions to submit feedback on two upcoming proposals that will impact credit unions. The organization issued a Regulatory Comment on both last week via email.
The proposals are:
- Financial Crimes Enforcement Network (FinCEN) proposal to amend FinCEN’s regulations that prescribe the minimum requirements for anti-money laundering/counter-financing of terrorism (AML/CFT) programs for financial institutions. NCUA and other federal financial regulators are also requesting input on changes to the agency’s AML/CFT Programs regulations, and the responses to the FinCEN proposal will inform America’s Credit Unions’ comments to both FinCEN and the NCUA.
- Comments are due to America’s Credit Unions by Aug. 16, and to FinCEN by September 3.
- Legacy CUNA members can comment here, legacy NAFCU members can submit comments here.
- CFPB proposal to amend 2013 rules regarding the responsibilities of mortgage servicers under Regulation X. The CFPB is seeking comments on several topics, including four key groups of changes related to assisting borrowers during loss mitigation and early intervention, as well as seeking comment on a fifth key issue related to credit reporting.
- Comments are due to America’s Credit Unions by Aug. 26, and to the CFPB by September 9.
- Legacy NAFCU members can submit comments here, legacy CUNA members can comment here.
