Also: Hood, Calabria join notable list of Caucus speakers; FHFA extends GSE loan forbearance policy



NAFCU TODAY | The News You Need Daily.

August 3, 2020



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This week: NAFCU keeps up aggressive advocacy push for CU priorities [ [link removed] ]
NAFCU remains active on Capitol Hill this week, engaging with lawmakers to ensure top credit union priorities - including the paycheck protection program (PPP) loan forgiveness process, National Defense Authorization Act (NDAA), and more - are top of mind.


NAFCU adds Hood, Calabria to Caucus lineup, encourages CUs to join advocacy [ [link removed] ]
NAFCU's Virtual Congressional Caucus kicks off in a little over a month and the agenda is quickly filling up with notable speakers including, NCUA Chairman Rodney Hood and Federal Housing Finance Agency (FHFA) Director Mark Calabria. NAFCU has revamped this year's Congressional Caucus to ensure credit unions can remain politically active amid the coronavirus pandemic, although the event will no longer be held in person, the outstanding content attendees are used to is not changing.


FHFA announces extension of GSE loan forbearance policy [ [link removed] ]
The Federal Housing Finance Agency (FHFA) Friday announced an extension of the temporary policy allowing the government-sponsored enterprises (GSEs) to purchase certain single-family mortgage loans in forbearance. The policy, originally set to expire last Friday, has been extended for loans originated through August 31, 2020.






NAFCU offers recommendations, shares comments as NCUA begins its reg review [ [link removed] ]
NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt last week offered comments to the NCUA ahead of its 2020 regulatory review, flagging additional issues and recommending approaches for consideration.


House passes additional CDFI, CDRLF funding, postal banking program [ [link removed] ]
The House Friday passed its version of the fiscal year 2021 spending package, which included $273.5 million for the Treasury's Community Development Financial Institutions (CDFI) Fund and $2 million for the NCUA's Community Development Revolving Loan Fund (CDRLF). 


ECU Monitor: CUs share insights into CFPB’s proposed QM rule [ [link removed] ]
The July edition of NAFCU's Economic & CU Monitor report – now available for download – tackles the CFPB’s proposed rule to address the quickly approaching sunset of the government-sponsored enterprises (GSE) Patch as well as the bureau’s proposed changes to its general qualified mortgage (QM) loan definition, replacing the debt-to-income (DTI) threshold with a comparison of the loan’s annual percentage rate (APR) to the average prime offer rate (APOR) for a comparable transaction.


NCUA bans 1 from future work in FIs [ [link removed] ]
The NCUA in July issued one prohibition notice, prohibiting an individual previously associated with credit unions from any future participation in the affairs of a federally-insured financial institution.



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