NAFCU,
DCUC team up to oppose NDAA lease provision
NAFCU and the Defense Credit
Union Council (DCUC) shared with lawmakers credit unions' concerns about
requiring the Department of Defense (DoD) to treat big banks the same as a military
installation's local, not-for-profit credit union when it comes to nominal leases on military bases.
Money
mule recruiting tactics explained in Compliance Blog
NAFCU Regulatory
Paralegal Shari Pogach details romance fraud – the seventh most commonly reported
scam to the FBI's Internet Crime Compliant Center (IC3) – in a new post on the Compliance Blog.
CUs:
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FHA finalizes relaxed condo rule
The Federal Housing Administration (FHA) Wednesday issued a final rule that would
relax restrictions for agency-backed condominium loans to streamline the process
and boost lending to first-time homebuyers. The rule, which would enable the Department
of Housing and Urban Development (HUD) to meet current house needs, was first proposed in 2016.
NY
Fed: Household debt exceeds peak reached in 2008
The Federal Reserve
Bank of New York this week released second quarter data on household debt and
credit that showed total household debt reached a new high of $13.86 trillion
– $1.2 trillion (in nominal terms) more than the previous peak reached in the third quarter of 2008.
Hood
provides update on supervision
NCUA Board Chairman Rodney Hood Wednesday
detailed ongoing efforts to modernize the dual-chartering and supervisory system,
as well as to reduce credit unions' regulatory burdens. These coordinated
efforts by the NCUA and state regulators are meant to ensure the safety, soundness,
efficiency and innovativeness of the industry, Hood said.
Reg
Compliance School continues with data security, TCPA
NAFCU's Regulatory
Compliance School continues today with a session exploring issues related to information
privacy and data security, including the Gramm-Leach-Billey Act. Attendees will
also get an in-depth review of the Telephone Consumer Protection Act (TCPA), an
issue which NAFCU is working to obtain more clarity and guidance for credit unions.
