This
week: Congress returns to D.C.; NAFCU preps for Phase 4, Caucus
Lawmakers
return to Capitol Hill this week and have several hearings on their agenda in
addition to continuing work on a potential Phase 4 coronavirus relief package,
the fiscal year 2021 National Defense Authorization Act (NDAA), the nomination
of Kyle Hauptman for the NCUA Board, and the annual funding packages. NAFCU will
maintain its bold advocacy strategy to ensure credit union priorities are addressed in each of these.
NAFCU
to CFPB: Include modified DTI, compensating factors in QM definition
In response to the CFPB's notice of proposed rulemaking related to the general
definition of a qualified mortgage (QM) under the Truth in Lending Act (TILA),
NAFCU Senior Regulatory Affairs Counsel Kaley Schafer Friday urged the bureau
to adopt a definition that would include a modified debt-to-income (DTI) threshold and allow for compensating factors.
Berger
details regs that hurt, help CUs amid crisis
In response to a letter
from House Committee on Oversight and Reform Ranking Member James Comer, R-Ky.,
asking NAFCU about the impact of regulations put in place after the 2008 financial
crisis and what provisions are the most beneficial – and detrimental – to
credit unions and their members amid the coronavirus pandemic, NAFCU President
and CEO Dan Berger offered detailed recommendations to help the industry survive and thrive.
You
still have time to save $250 on NAFCU's Online Training Subscriptions
Use code SUMMER before September 18 to take advantage of year-round compliance
training for your entire staff.
Job
gains expected to continue in coming months, NAFCU says
According to
the Bureau of Labor Statistics, jobs grew by 1.4 million in the U.S. in August.
NAFCU Chief Economist and Vice President of Research Curt Long remarked on the
“solid” report in a new NAFCU Macro Data Flash report.
NCUA
to host webinar in collaboration with NeighborWorks America
The NCUA
is offering a complimentary webinar to inform credit unions about potential collaboration
opportunities with NeighborWorks America, a national housing and community development
organization with a nation-wide network of nearly 240 local nonprofits.
.png)
