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- by David Baumann, CUCollaborate

CDFI Fund opens Equitable Recovery Program grant round

The Department of the Treasury's Community Development Financial Institutions (CDFI) Fund on Thursday opened its application round for the new Equitable Recovery Program (ERP). The program will provide about $1.73 billion in awards to [...]

- by David Baumann, CUCollaborate

CFPB to increase its use of regulatory ‘guidance’

The Consumer Financial Protection Bureau (CFPB) will “dramatically” increase its use of regulatory guidance—a device that in the past has been sharply criticized by financial services trade groups and congressional Republicans. “The CFPB is [...]

- by David Baumann, CUCollaborate

CFPB attempting to foster ‘relationship banking’

Attempting to foster “relationship banking,” the Consumer Financial Protection Bureau is seeking comments on how responsive the largest credit unions and banks are to complaints from their members and customers. “We want to hear from [...]

- by David Baumann, CUCollaborate

NCUA Board pleased with credit union exam survey pilot

A pilot program to survey credit unions about their examinations has been a success, National Credit Union Administration Ombudsman Shameka Sutton told the agency board Thursday. And Sutton said that the results of the survey [...]

- by David Baumann, CUCollaborate

House passes bill that would increase FOM options

The House on Wednesday passed legislation that would, among other things, allow all federal credit unions to expand their fields of membership to serve underserved areas. Voting 215-207, the House passed H.R. 2543—legislation [...]

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Credit union trades question CFPB’s authority over fees

The Consumer Financial Protection Bureau (CFPB) is purposely trying to inflame the public by claiming legitimate fees charged by credit unions and banks are “junk fees,” the two national credit union trade groups told the [...]

CDFI Fund announces Bank Enterprise Awards

The Community Development Financial Institutions (CDFI) Fund on Wednesday announced it has awarded $26 million to 158 Federal Deposit Insurance Corp. (FDIC)-insured banks as part of its FY21 round of the Bank Enterprise Award ([...]

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