ALEXANDRIA, Va. (Nov. 1, 2022) – The National Credit Union Administration today released the results(opens new window) of the 2021 Credit Union Diversity Self-Assessment (CUDSA). The NCUA administers the voluntary CUDSA as a tool to help federally insured credit unions assess, guide, and monitor their diversity, equity, and inclusion (DEI) efforts and compare their progress with peer organizations.
The Consumer Financial Protection Bureau has responded to a request to dismiss an enforcement action from TransUnion, signaling its stance on challenges to the constitutionality of the bureau’s funding structure.
The California Privacy Protection Agency (CPPA) released the second version of draft regulations under the California Privacy Rights Act (CPRA) on Oct. 17. Because California was initially required to provide final regulations by July 2022, having another draft issued just three months before CPRA takes effect in January 2023 creates challenges for businesses preparing for CPRA compliance. Adding further frustration, many changes within the updated draft regulations include qualifying language that certain requirements were removed “to simplify implementation of these regulations at this time.” This seemingly leaves the door open to additional CPRA compliance requirements in the future.
On September 29, the CFPB released its annual report on residential mortgage lending activity and trends for 2021. Notably, the report shows a shift from refinance loans in 2020 to home purchase loans in 2021—with a greater share of home purchase loans going to Asian, Black, and Hispanic white borrowers relative to the share of home purchase loans for non-Hispanic white borrowers.
Consumer Financial Protection Bureau Director Rohit Chopra recently announced that the bureau will launch a new approach to market regulation and will ask for public input on the long-awaited data-sharing rule.
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