Here are some things that were bouncing around in my inbox. Enjoy:
- What regulation needs another amendment? That's right, Regulation Z!! Last week, the Fed announced a proposal that would add disclosure and timing requirements for certain private education loans. The proposal comes from a mandate found in the Higher Education Opportunity Act (HEOA). (If I were a betting man, I'd predict that this acronym will not catch on.) HEOA requires the Fed to issue final rules on this by August 14, 2009. Access additional details here.
- The cram down bill that has passed the House does contain a provision that would make the $250,000 bump in share insurance protection permanent. But the bill must navigate the Senate and be signed by President Obama before it becomes law. Stay tuned.
- Tucked into the omnibus appropriations bill that will keep the Federal lights on through the end of fiscal year 2009 is the reauthorization of National Flood Insurance Program. It is now reauthorized through September 2009.
You may recall that NCUA issued a final rule to amend insurance signs at shared branches. We hear that NCUA is still working on finalizing the design of a model sign which will be posted on their website soon.