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McWatters to Cordray: Do more to help credit unions

first_img 10SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr NCUA board chairman H. Mark McWatters yesterday sent out a forceful letter to Richard Codray urging him to categorically exempt credit unions from many of the pending HMDA mandates, and called on it to clarify the scope of its Unfair and Deceptive Acts and Practices (UDAP) powers in guidance or regulations. This letter is proverbial music to the ears for those of us who believe that the benign dictator of consumer finance and former supreme court clerk has either been too cautious or too unwilling to utilize his authority to exempt credit unions from Dodd- Frank mandates.Here is my favorite quote; “Section 1022(b)(3)(A) of the Dodd-Frank Act, provides that the bureau may exempt any class of persons, service providers or consumer financial services from certain regulations. Use of this permitted, yet underutilized statutory authority is appropriate to address compliance costs and the unintended consequences of limiting access to affordable financial services for many millions of middle class credit union members, through the enactment of needless regulatory burdens.” continue reading »last_img read more

NFL free agency rumors: Redskins to sign OL Ereck Flowers

first_imgEreck Flowers is getting a shot with a new NFL team.Flowers, 24, is expected to sign a one-year, $4 million deal with the Redskins, according to an ESPN report, which cites unidentified league sources. The Redskins acquired quarterback Case Keenum from the Broncos earlier this month. He only played in five games for New York in 2018 before being benched and eventually released. Flowers then signed with the Jaguars and appeared in eight games. Related News NFL free agency news: Adrian Peterson returning to Redskinscenter_img Redskins have signed Ereck Flowers to a 1 year $4 million deal, per source.— Adam Schefter (@AdamSchefter) March 18, 2019Flowers was selected by the Giants with the ninth pick in the 2015 draft but he failed to live up to expectations. Jay Gruden wasn’t consulted about Redskins’ free agency moves, Landon Collins signinglast_img read more