Coronavirus:
Are your business continuity plans up to date?
As health officials
analyze reports of coronavirus cases as the flu season continues, NAFCU is encouraging
credit unions to revisit or update their business continuity plans to ensure continuous
operation of critical systems in case of a disaster or emergency. Last week, U.S.
officials declared the coronavirus outbreak a public health emergency.
NAFCU,
trades ask agencies to pause review ahead of QM rulemaking
NAFCU, along
with 36 organizations representing the financial services, real estate finance,
housing, consumer affairs, and civil rights sectors, sent a letter to six agencies
asking them to delay their current review of certain provisions of the Credit Risk Retention Rule.
City
of Miami dismisses pending FHA lawsuits
The City of Miami, last Thursday,
voluntarily dismissed lawsuits against Bank of America, Wells Fargo, Citigroup,
and JPMorgan Chase, in which the city alleged discriminatory practices under the
Fair Housing Act (FHA) that indirectly harmed the city, resulting in lost property
tax revenue and increased municipal expenses. The case had been pending before the Supreme Court.
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FHFA
updates minimum financial eligibility requirements
The Federal Housing
Finance Agency (FHFA) Friday announced proposed updated minimum financial eligibility
requirements for Fannie Mae and Freddie Mac Seller/Services. The new requirements
will also apply to servicing for Ginnie Mae mortgages and non-depository financial institutions.
New
Fed survey reveals stable loan demand and performance
The Federal Reserve's fourth-quarter
senior loan officer opinion survey (SLOOS) revealed that banks entered the year
expecting relatively stable loan demand and performance, despite some anxieties related to subprime consumer loans.
6
CUs to pay $2K over late Q2 call reports
On Monday, the NCUA announced
that six credit unions will pay penalties totaling $2,259 for filing late call
reports in the second quarter of 2019.
