Mountain West News
Weather Alert: ERM Class - 4/23 in Denver |
The Enterprise Risk Management class being held April 23rd in Denver and Phoenix is still taking place.  For Denver participants, please use your best judgement on whether or not to attend based on your individual weather conditions.  For questions, please contact Nicole Brusewitz at 303-564-8120.
CFPB Offers Escrow Rule Help, More Mortgage Clarifications |
An escrow rule summary, and tips to help small issuers and their business partners implement that rule, were released by the Consumer Financial Protection Bureau late last week. The CFPB also released a proposal to address questions regarding qualified mortgages and servicing.

The escrow rule guide provides a plain language overview of the rule, and a list of frequently asked questions. These documents will make the content of the rule "more accessible and consumable for a broad array of industry constituents, especially smaller businesses with limited legal and compliance staff," the CFPB said in a release.  Read More
NCUA Letters Address LICU, Corporate Credit Risk Issues |
The National Credit Union Administration on Friday sent out two letters: One on low income credit union (LICU) changes and a second letter that addresses creditworthiness and credit risk guidance for corporate credit unions.

The LICU letter was sent to federally insured state-chartered credit unions. The letter highlights recent NCUA procedural changes that streamline the process for state-chartered credit unions to determine if they are eligible for a LICU designation.  Read More
CFPB Reg Z Changes Unlikely To Impact Many CUs |
In a new Final Rule Analysis, the Credit Union National Association notes that the Consumer Financial Protection Bureau's recent amendments to Regulation Z will likely benefit some credit card issuers, but should not have a major impact on credit union issuers directly, because credit union fees on members' credit card accounts are typically well below the limit.

Regulation Z generally limits the total amount of fees that an issuer may charge on a consumer's credit card account to 25% of the credit limit in effect when the account is opened.  Read More
NCUA Seeks Comment On Fixed-Asset Rule Clarifications |
At what was a very brief meeting this morning, the National Credit Union Administration has just voted to seek comments on a proposal that clarifies and reorganizes portions of its rule addressing federal credit union ownership of fixed assets.  Comments will be due 60 days after the plan is published in the Federal Register.  Read More
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