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Proposed Rulemaking by CFPB on Mortgage Servicing  

As the rulemaking process progresses, GoWest will seek your feedback and develop comments by the Sept. 9 deadline.

CFPB Update: The FFIEC Publishes HMDA Dataset Snapshot and Resources

Credit unions should review the snapshot and see how they compare against key highlights.

CFPB Releases New Supervisory Highlights Related to Servicing and Collection of Consumer Debt

What credit unions need to know about findings from recent examinations.

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CFPB Extends Compliance Dates for Small-Business Lending Rule

An interim rule provides lenders with more time to prepare amidst legal and regulatory changes.  

Your Input Needed as FHFA Begins Rulemaking on FHLB Modernization

The Federal Housing Finance Agency (FHFA) appears to be initiating the start of surrounding its previously announced plans to modernize the Federal Home Loan Bank (FHLB) system as it prepares to turn 100 years old at the end of this decade.

CFPB Releases Notice of Proposed Rulemaking to Remove Medical Bills from Credit Reports  

Last week, the CFPB released a Notice of Proposed Rulemaking that would significantly impact credit reporting and lending practices by amending Regulation V of the Fair Credit Reporting Act (FCRA) to remove medical debt from credit reports.

CDFI Fund Extends Submission Deadlines for Revised CDFI Certification Application

On Thursday June 20, the Community Development Financial Institutions Fund (CDFI Fund) announced an extension for the reapplication deadlines for currently certified CDFI’s using the revised CDFI Certification Application.

Calling All Credit Unions: Share Your Impact Data and Wow Congress

GoWest is preparing a detailed economic and community impact analysis for the 119th Congress and 2025 legislative sessions. Next month, you will receive the survey resources to help your credit union participate.

Update: CFPB’s New Rule on Open Banking Standards

This rule is crucial for the implementation of the upcoming Personal Financial Data Rights Rule which was proposed in October of 2023 and could be finalized later this year.

CFPB Issues Request for Information Related to Mortgage Servicing Practices.

The agency is interested in the impacts of loan closing costs, many of which are beyond the control of the lender or the consumer.

Important Update: Anticipated Rulemaking on Mortgage Servicing

Your GoWest Regulatory Affairs team provides an analysis of the forbearance programs enacted during COVID, and updates advocacy efforts regarding future rulemaking.


CFPB’s Issue Spotlight and Panel on Credit Card Rewards

As advocates for consumers, credit unions have a unique opportunity to continue championing transparency, fairness, and consumer protection in credit card reward programs.

Regulatory Update: Debit Interchange Reduction Proposal

Over the past few months, GoWest has been diligently collecting credit union feedback, discussing strategies, and crafting a comprehensive response to the proposed changes that would directly reduce debit interchange income on credit unions over $10B in assets by approximately 30%, as well as, indirectly negatively impacting those under $10B. 


Regulatory Advisory Committee Meeting Summary

Updates were provided by CFPB and the California-Nevada League regarding the current ODP landscape.

2023 HMDA Data Released

We highly encourage GoWest credit unions to analyze this data to gauge your standing within the industry and track your progress over time as shifting currents within the regulatory realm continue to shape the mortgage landscape.


GoWest Files Comment Letter on CFPB Rule to Minimize Overdraft Fees

The letter reflects the input of GoWest member credit unions gathered during state GAC meetings and through other forms of outreach.

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Pushing Back on NCUA Call Report Change

GoWest and member credit unions are letting NCUA know, in no uncertain terms, that this action is potentially harmful to CUs and their members.

Pravina Raghavan Steps into New Role as Director of CDFI Fund

Pravina Raghavan has recently assumed the position of Director of the Community Development Financial Institutions (CDFI) Fund. Director Raghavan hails […]

The CFPB’s Focus on Housing Fees: Implications for Credit Unions

The latest attack on fee income came on Friday, March 8, as the CFPB published a blog post outlining their […]

CFPB Finalizes Credit Card Late Fee Rule

This morning, the Consumer Financial Protection Bureau (CFPB) finalized the Credit Card Late Fee rule. The ill-advised rule changes what […]