Mountain West News
FinCEN Issues Notice Regarding How to Correct or Amend Paper Bank Secrecy Act Forms |

Due to business process changes resulting from FinCEN's BSA IT Modernization, paper form instructions that pertain to filing corrections or amendments have changed. When correcting or amending a previously filed paper report, filers must check the appropriate amendment or correction box and complete the form in its entirety. Filers are strongly encouraged to complete this process through our Bank Secrecy Act Electronic Filing (BSA E-Filing) System. Read More

Credit Unions Call For Less Reg Burden In Field Hearing |

The increasing number of regulations imposed on credit unions is costly, confusing to members, and creates "an unnecessary burden without any measure of the effectiveness of these changes," Central City CU CEO and CUNA board member Pat Wesenberg said in testimony delivered before a Monday House Financial Services financial institutions and consumer credit subcommittee field hearing. Read More

CFPB Requests Comments on Information Collection – Complaint Process |

The Bureau of Consumer Financial Protection (CFPB), as part of its continuing effort to reduce paperwork and respondent burden, is requesting comments on a proposed information collection, as required by the Paperwork Reduction Act of 1995.  The CFPB is soliciting comments for a proposed generic information collection that will help the CFPB satisfy responsibilities under the Dodd-Frank Wall Street Reform and Consumer Protection Act. Currently, the CFPB is soliciting comments on a proposed generic information collection to help facilitate the collection and monitoring of and response to consumer complaints about certain financial products and services.  The CFPB is estimating that the overall response burden for its complaint and information collection processes will be more than 418,000 hours.  Read More

CUNA Suggests Series of Steps To Cut Regulatory Burden |

CUNA suggested adopting a temporary moratorium on new regulations as one of many ways the National Credit Union Administration could ease the regulatory burden on credit unions, and is also working on the legislative front to address these same issues.  Read More

NCUA Adopts CDRLF Changes |

The process by which the National Credit Union Administration solicits, receives, evaluates, and acts on credit union applications for loans and technical assistance grants from the Community Development Revolving Loan Fund will be changed under a final rule that was approved by the agency yesterday. Read More

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