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CFPB gathering feedback on remittance rule

first_img continue reading » The CFPB has issued a request for information (RFI) on its remittance rule – a positive sign for the industry as the bureau considers possible changes to the rule. NAFCU has long expressed concerns about the rule’s highly burdensome compliance costs and urged the bureau to exempt credit unions from the rule.“NAFCU has long argued that credit unions should be exempt from all CFPB rulemakings, including its remittance rule,” said NAFCU President and CEO Dan Berger. “The remittance rule imposes overbearing compliance costs, which have effectively prevented many credit unions from providing assistance to consumers in need.“The rule, as it stands, pushes countless consumers away from credit unions and into the waiting arms of shady, fly-by-night entities that may do consumers harm. We appreciate the CFPB’s commitment to reviewing the rule, and we look forward to continuing to work with them throughout the process,” Berger added. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Liverpool blow! Summer signing set for TWO MONTHS out injured

first_imgLoris Karius is set to miss the start of the Premier League season as he faces two months on the sidelines with injury.It is understood the German goalkeeper broke his hand in the pre-season friendly loss to Chelsea, and has flown back to England from the USA to undergo surgery.Karius had started every one of Liverpool’s friendlies this summer, and he was in line to be Jurgen Klopp’s first-choice goalkeeper when the competitive season started.However, he is reportedly set to be out of action until the middle of October, missing games against Arsenal, Tottenham, Leicester, Chelsea and Manchester United.Simon Mignolet and Karius’ fellow summer signing Alex Manninger will now go head to head to stake a claim for the starting position in the weeks running up to the start of the Premier League. Loris Karius 1last_img read more