CDFI Fund anticipates launching application in fall

The Community Development Financial Institutions (CDFI) Fund released an update on where revisions to the CDFI Certification Application stand, saying it expects to begin accepting new certification applications in fall 2023. The CDFI Fund initiated a certification blackout period Oct. 1, 2022, as it proposed changes to the process and application. Under the fund’s initial timeline, it had planned to begin accepting applications through the revised process in April 2023.

NAFCU to CFPB: Mortgage loan originator rules provide ‘consistency and trust’

As part of the CFPB’s required review of the mortgage loan originator rules under Regulation Z, NAFCU Regulatory Affairs Counsel James Akin offered support for the rules as they stand and recommended opportunities for clarifying guidance.

NCUA, CFPB, NAFCU offer resources on elder abuse

May is Older Americans Month and the NCUA is offering a webinar in partnership with AARP and the CFPB May 18 on elder financial abuse. In addition, NAFCU member credit unions will participate in a roundtable discussion with the CFPB’s Office of Older Americans May 23 to discuss age-friendly banking practices.

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• Cybersecurity: Protecting Your Institution 

Another rate hike expected from FOMC

The Federal Open Market Committee (FOMC) begins its May monetary policy meeting today. Recent economic data has signaled that the Federal Reserve has more work to do to curb inflation.