Also: QM focus of meeting with FHA Commissioner; CECL, FOM updates shared at NCUA's MDI Forum
NAFCU TODAY | The News You Need Daily.
March 5, 2020
----------
----------
Sens. Scott, Cortez Masto introduce NAFCU-sought NCUA loan flexibility bill [ [link removed] ]
Senate Banking Committee Members Tim Scott, R-S.C., and Catherine Cortez Masto, D-Nev., Wednesday introduced NAFCU-sought legislation, the Expanding Access to Lending Options Act (S. 3389), that would give the NCUA greater flexibility in setting loan maturity limits under the Federal Credit Union Act. Reps. Lee Zeldin, R-N.Y., and Vicente Gonzalez, D-Texas, previously introduced a NAFCU-sought House version for loan maturity relief last March.
NAFCU, coalition meet with FHA Commissioner on QM [ [link removed] ]
Members of NAFCU’s Regulatory Affairs team attended a coalition meeting with Federal Housing Administration (FHA) Commissioner Brian Montgomery yesterday to discuss issues related to the definition of qualified mortgage (QM) and the potential expiration of the government-sponsored enterprise (GSE) patch.
CUs get updates on CECL, FOM, more at MDI Forum [ [link removed] ]
At the NCUA's Minority Depository Institution (MDI) Forum this week, credit unions received key updates on the agency's efforts to provide more guidance under the current expected credit loss (CECL) standard and to create more opportunities for credit unions to serve underserved communities.
Fed's Beige Book details some economic impact from coronavirus [ [link removed] ]
While the U.S. economy saw modest to moderate growth in recent weeks, the Federal Reserve's Beige Book released Wednesday showed the coronavirus was starting to impact some industries, including travel, tourism, and manufacturing. As these are the sectors most likely to be affected, NAFCU's Curt Long noted that "Fed contacts signaled broad concern over the potential impact of the coronavirus."
Vehicle sales dip slightly in February [ [link removed] ]
Total vehicle sales declined slightly to a rate of 16.8 million annualized units in February. Of note, light trucks continued to dominate while auto sales struggled.
----------
----------
----------
NAFCU Calendar: [link removed]
----------
--------------------------------------------
JOIN THE CONVERSATION:
LINKEDIN: [link removed]
FACEBOOK: [link removed]
TWITTER: [link removed]
YOUTUBE: [link removed]
BLOGS: [link removed] ]
---------------------------------------------
Send feedback [ mailto:
[email protected] ]
Subscribe now to NAFCU Today [ [link removed] ]
Opt out of NAFCU Today? [ [link removed] ]
Update your communication preferences [ [link removed] ]
Unsubscribe to ALL of NAFCU's emails. [ [link removed] ]
NAFCU Today? is published weekdays by the National Association of Federal Credit Unions.
3138 10th Street North | Arlington, VA 22201 | email:
[email protected] [ mailto:
[email protected] ] | phone: (703) 522-4770; (800) 344-5580
?
Powered by Higher Logic [link removed]
