Regulatory & Compliance Updates: Nov. 8, 2023

CFPB Proposed Expansion of Fair Credit Reporting Act (FCRA): On November 6, CUNA and NAFCU issued a letter objecting to the CFPB’s proposals as an “unwarranted and vast expansion” against Congress’s intent for the law without providing proper time for feedback. 

CDFI Fund One-Time Eligibility Rule Change: The Department of Treasury announced on November 1, it will soon be taking applications for the Community Development Financial Institutions (CDFI) program. 

​NCUA Proposed Rule on Fair Hiring in Banking: On November 6, the NCUA published its proposed rule for Fair Hiring in Banking announced as its “Second Chance” Interpretive Ruling and Policy statement at its October Board meeting.

FULL ARTICLES: MEMBERS ONLY