Displaying 1 - 20 of 168

Tag: Government Relations Policy Updates

Article May 15, 2019
The Consumer Financial Protection Bureau is taking another look at the 10 year old overdraft fee regulations.
Article May 13, 2019

Attorney Generals from across the country called on Congress to take up cannabis banking legislation that would allow lenders to serve cannabis businesses that operate legally at the state level.

Article April 26, 2019
The Consumer Financial Protection Bureau has issued a Request for Information (RFI) regarding potential regulatory changes to the current remittance Rule. The RFI seeks information on two specific areas of the rule.
Article April 5, 2019
Federal regulators need to create consistent guidance on the standards for bank small-dollar loan offerings. FDIC Chair, Jelena McWilliams stated that banks have been unwilling to get involved in the small-dollar loan market is because the three main federal banking regulators, the FDIC, the Federal Reserve and the Office of the Comptroller of the Currency, all have different guidelines in place for such product offerings.
Article March 29, 2019
The House of Representatives is inching closer to voting on a banking cannabis business relief bill after the Financial Services Committee voted to move the bill out of committee to a full House vote.
Article March 28, 2019
This month, both Chambers of Congress introduced legislation that would eliminate Remotely Created Checks (RCCs).
Article March 28, 2019
The Consumer Financial Protection Bureau, reversing a controversial decision by the previous intern director, Mick Mulvaney, has taken steps to restore the influence of several advisory panels that were sidelined last year.
Article March 13, 2019

The purpose of the CFPB request was to propose a delay to the effective date of the mandatory underwriting provisions of the regulation promulgated by the CFPB in November 2017 governing Payday, Vehicle Title, and Certain High-Cost Installment Loans (the “Final Rule”).

Article March 7, 2019
On March 4, 2019, Representatives David Scott (D-Ga.) and Barry Loudermilk (R-Ga.) introduced H.R. 1491, the FINTECH Act.
Article March 6, 2019

Nacha’s 2019 Best Places to Work in Virginia award has been acknowledged in a Congressional Proclamation introduced by Nacha’s home district Representative, Gerald E. Connolly (D-Va.) and will appear in this week’s Congressional Record. Nacha’s accomplishment has now been recognized by the U.S.

Article February 21, 2019

Nacha’s Government Relations team has been busy meeting with new committee staff members on both The House Financial Services Committee and Senate Banking Committee to advocate for the ACH Network and discuss 2018 network growth for both Same Day ACH and traditional ACH.

Article February 21, 2019
The CFPB has released a small entity compliance guide that summarizes the payment-related provisions of the Payday, Vehicle Title, and Certain High-Cost Installment Loans Rule (Payday Lending Rule).
Article February 19, 2019
On Feb. 6, 2019, the Consumer Financial Protection Bureau (CFPB) proposed to rescind portions of its 2017 final rule regarding “Payday, Vehicle Title, and Certain High-Cost Installment Loans”, in particular doing away with the current requirements for underwriting determinations that would ensure offered loans are within what the borrowing applicants can afford.
Article February 5, 2019

The government and industry relations team was able to attend a U.S. Senate Proclamation acknowledging Nacha’s recognition as One of the Best Places to Work in Virginia.

Article February 5, 2019
With the federal government fully functioning for the moment, Congress appears to be pointing towards “go.”
Article December 12, 2018

On Dec. 11, 2018, Nacha’s Government Relations Advisory Group (GRAG) held its annual meeting at the Capitol Hill Club.

Article December 12, 2018
On Dec. 6, 2018, the Senate confirmed Kathy Kraninger to serve a five-year term as the new Director of the Bureau of Consumer Financial Protection (CFPB).
Article December 3, 2018

On Dec. 3, 2018, Nacha filed a comment letter on the Federal Reserve’s Request for Comments on Potential Federal Reserve Actions to Support Interbank Settlement of Faster Payments (the “RFC”).

Article November 19, 2018
Democratic control of the House has raised hopes that the possibility exists for Congress to provide a safe harbor for banks to serve marijuana businesses or even a broader bill to remove pot from the list of controlled substances.
Article November 19, 2018
The Senate has confirmed Kansas State Banking Commissioner Michelle Bowman as a member of the Federal Reserve Board. She becomes the first person to fill the vacant community banking seat, which was mandated by Congress. Bowman, nominated in April, is the first person confirmed to the Fed seat reserved for a community banker.