Also: How NAFCU's fighting against NCUSIF premium, more to know this week; Thaler keeps up call for simplified PPP forgiveness
NAFCU TODAY | The News You Need Daily.
September 25, 2020
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FHFA makes another extension to GSE loan forbearance policy [ [link removed] ]
The Federal Housing Finance Agency (FHFA) is again extending its temporary policy allowing the government-sponsored enterprises to purchase certain single-family mortgage loans in forbearance. It was set to expire Sept. 30 after two previous extensions, and is now extended to Oct. 31, 2020. NAFCU is actively engaged with the FHFA to ensure credit union mortgage servicers have the relief needed to accommodate increased forbearance requests.
5 things to know this week [ [link removed] ]
NAFCU's widely-read NAFCU Today is credit union leaders' go-to source for the latest on issues impacting the credit union industry. For those short on time, here's a roundup of this week's top need-to-know news, including NAFCU's advocacy against an NCUSIF premium, the Senate's prepping of a vote on the short-term funding deal, and more.
Thaler urges simplified PPP forgiveness ahead of House Small Biz hearing [ [link removed] ]
Ahead of today's House Small Business subcommittee hearing to review the Small Business Administration’s (SBA) paycheck protection program (PPP) loan forgiveness process, NAFCU Vice President of Legislative Affairs Brad Thaler called on the subcommittee to consider the concerns of credit unions and their members faced with a complex process.
CUs: How can FinCEN's AML programs be improved? [ [link removed] ]
NAFCU outlined the Financial Crimes Enforcement Network's (FinCEN) advance notice of proposed rulemaking (ANPR) gathering public feedback on potential improvements to anti-money laundering (AML) programs in a new Regulatory Alert sent to members Thursday. Credit unions are encouraged to submit comments on the ANPR to NAFCU by Nov. 13; comments are due to FinCEN Nov. 16.
This week on the Compliance Blog: CFPB enforcement activity, TD Bank's overdraft settlement, and more [ [link removed] ]
As credit unions work to meet members' needs during the coronavirus pandemic and resume normal operations, NAFCU's award-winning Regulatory Compliance Team will continue to keep credit unions informed with new posts on the Compliance Blog every Monday, Wednesday, and Friday.
CFPB survey: Consumers falling short of emergency savings goals [ [link removed] ]
The CFPB released additional data from its Making Ends Meet Survey – conducted in May 2019 – related to consumers' saving habits. The new data from the survey indicates that many consumers are falling short of the amount they think they will need in emergency savings.
Inventory concerns remain as new-home sales rise [ [link removed] ]
While new-home sales continued to rise for the fourth straight month in August, up 4.8 percent from July's revised rate of 965,000 annualized units to 1,011,000 units, NAFCU's Curt Long flagged that "inventory is a concern."
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