Also: New TRID FAQs tackle lender credits; BSA Blast covers recent hemp guidance, FinCEN insights



NAFCU TODAY | The News You Need Daily.

February 27, 2020



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NAFCU, CUs meet with Muzinich on economy, housing finance reform, more [ [link removed] ]
Yesterday, NAFCU and several member credit unions met at the Treasury Department with Deputy Secretary Justin Muzinich to discuss results from the association's 2019 Annual Report on Credit Unions, data privacy, fintech, coronavirus, and regulatory efforts related to housing finance reform.


TRID FAQs on lender credits released [ [link removed] ]
The CFPB Wednesday released a new set of FAQs under the TILA-RESPA Integrated Disclosure (TRID) rule, specifically related to lender credits. NAFCU has worked with the bureau to obtain more guidance for credit unions and recently recommended areas of the rule to review.


BSA Blast details hemp banking guidance, FinCEN on BSA issues [ [link removed] ]
A new edition of NAFCU's BSA Blast – in its user-friendly digital format with direct links to each section – is now available on the NAFCU website. The February issue takes a look at hemp banking guidance from various agencies and summarizes Financial Crimes Enforcement Network (FinCEN) Director Kenneth Blanco's latest speech related to Bank Secrecy Act (BSA) issues.






NAFCU's Kossachev to share CU perspective on TRACED Act [ [link removed] ]
NAFCU Director of Regulatory Affairs Ann Kossachev is set to speak on a panel today to discuss industry perspectives on the implementation of the Telephone Robocall Abuse Criminal Enforcement and Deterrence Act (TRACED Act). The TRACED Act, which was signed into law late last year, expands the Federal Communications Commission's (FCC) enforcement authority over violations of the Telephone Consumer Protection Act (TCPA).


America Saves Week: State Department Federal Credit Union has resources for everyone [ [link removed] ]
As part of America Saves Week, NAFCU is highlighting the efforts of member credit unions with strong financial education programs that encourage members to save and strengthen their personal finances. Today, learn how State Department Federal Credit Union's (Alexandria, Va.) financial planning and savings initiatives help educate members through all stages of life


CFPB symposium weighs pros, cons of consumer access to data [ [link removed] ]
At yesterday's CFPB's symposium focused on Section 1033 of the Dodd-Frank Act, bureau Director Kathy Kraninger and panelists outlined the benefits of consumer access to financial records while also cautioning possible consumer harm as a result of so much data collection and authorization.


NAFCU offers support for improving access to small dollar mortgages ahead of markup [ [link removed] ]
Ahead of the House Financial Services Committee's markup of seven bills, which begins today, NAFCU Vice President of Legislative Affairs Brad Thaler offered the association's support for a bill that would require the Federal Housing Administration (FHA) to review and report on plans to remove barriers to small dollar mortgages.


New-home sales surge, maintain annual growth [ [link removed] ]
New-home sales were up 7.9 percent from December's revised rate of 708,000 annualized units to 764,000 units in January. NAFCU Chief Economist and Vice President of Research Curt Long noted strong gains in the Midwest, Northeast and West made up for falling sales in the South.



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