Also: Comments on proposed TILA escrow exemptions; NAFCU touts CUs advocacy, message in media
NAFCU TODAY | The News You Need Daily.
September 21, 2020
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This week: NAFCU monitoring Hill movement, continuing bold advocacy push [ [link removed] ]
NAFCU’s bold advocacy strategy remains in high gear this week as the association continues to share credit unions' perspective with Congress on industry issues, including a potential Phase 4 coronavirus relief package, the fiscal year 2021 National Defense Authorization Act (NDAA), and annual funding packages. Of note, NAFCU will be monitoring several scheduled hearings this week on key topics.
NAFCU offers comments on CFPB’s proposed exemptions to TILA escrow requirements [ [link removed] ]
NAFCU Senior Regulatory Affairs Counsel Kaley Schafer wrote to the CFPB Friday in response to the bureau’s notice of proposed rulemaking (NPRM) amending the Truth in Lending Act’s (TILA) escrow requirements for higher priced mortgage loans (HPMLs). The revision comes in accordance with the NAFCU-supported Economic Growth, Regulatory Relief, and Consumer Protection Act (S.2155), which was enacted in 2018 and provides broad regulatory relief.
ICYMI: NAFCU’s latest advocacy efforts as seen in the media [ [link removed] ]
Ahead of NAFCU's Virtual Congressional Caucus last week, senior members of the association's award-winning advocacy team shared the credit union message across three news publications. Since the pandemic began, the association has been working around the clock to deliver wins for the industry and ensure credit unions have the tools needed to serve more than 122 million members.
NAFCU webinar to break down Fed's FraudClassifier [ [link removed] ]
The Federal Reserve's Fraud Definitions Work Group earlier this year released the FraudClassifier Model to help organizations better understand the magnitude of fraud involving payments. A NAFCU webinar Sept. 30 will break down how credit unions can utilize the new classification model to better defend against fraud.
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