Also: NAFCU advocates for CU priorities as Congress considers relief; FHFA proposes rule, continues COVID flexibilities
NAFCU TODAY | The News You Need Daily.
October 21, 2020
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CFPB finalizes rule extending the GSE patch [ [link removed] ]
The CFPB Tuesday issued a final rule extending the government-sponsored enterprise (GSE) patch until the mandatory compliance date of a final rule amending the general qualified mortgage (QM) loan definition in Regulation Z. The GSE patch was originally set to expire Jan. 10, 2021.
NAFCU keeps pushing for CU relief as Congress works on packages [ [link removed] ]
The Senate today is set to vote on another "skinny" version of its proposed Phase 4 relief package that would provide targeted funding for expanded unemployment benefits, schools, vaccine production and distribution, and testing and tracing. Yesterday, the chamber voted on a separate bill addressing funding and improvements for the paycheck protection program (PPP), but the vote failed.
FHFA issues proposed rule for GSEs, extends COVID loan flexibilities [ [link removed] ]
The Federal Housing Finance Agency (FHFA) Monday issued a proposed rule that would require the government-sponsored enterprises (GSEs) – Fannie Mae and Freddie Mac – to provide advance notice of new activities and obtain approval from the agency before launching new products. The proposed rule replaces the interim final rule that has been in effect since 2009.
CFPB, stakeholders meet on small biz data collection proposals [ [link removed] ]
The CFPB this week convened representatives serving on its Small Business Regulatory Enforcement Fairness Act (SBREFA) panel to discuss the outline of proposals under consideration for the bureau's implementation of section 1071 of the Dodd-Frank Act, which requires the bureau to collect financial institutions' lending data related to small businesses.
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