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New op-ed: Credit unions shouldn’t qualify as CDFIs
A new op-ed says credit unions should not be designated as community development financial institutions due to their tax exemption.
CFPB proposes boundaries on nonbank supervision
The Consumer Financial Protection Bureau proposed adopting a standard that says it can supervise nonbanks if it determines that the nonbank’s products or services pose a risk to consumers.
Community Bankers of Michigan: Apply CRA to state’s credit unions
The Community Bankers of Michigan called on state lawmakers to subject credit unions to sound regulations such as the Community Reinvestment Act.
CFPB releases new 1033 proposal on sharing consumer financial data
The Consumer Financial Protection Bureau released an advance notice of proposed rulemaking to collect information on how it should implement Section 1033 standards on sharing consumer financial data.
ICBA supports inclusion of CDFI amendments in defense bill
ICBA said it supported four pieces of legislation aimed at strengthening community development financial institutions that are being considered as an amendment to the National Defense Authorization...
ICBA Statement on the CFPB’s Proposed Rule to Implement Section 1033 Standards on Sharing Consumer Financial Data
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on today’s Consumer Financial Protection Bureau proposed rule to implement...
Solid labor market, stalling disinflation led to rate decision: minutes
Disinflation appeared to stall during the first half of the year while labor market conditions remained solid, according to the minutes of the Federal Open Market Committee’s July 29–30 meeting.
Faulkender leaving Treasury Department
Deputy Treasury Secretary Michael Faulkender is leaving the Treasury Department, according to media reports.