CFPB
finalizes rule extending the GSE patch
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
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
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.
NAFCU's Virtual Regulatory Compliance
Seminar: Only a few days left to register
Sharpen your credit union
compliance and BSA knowledge
CFPB,
stakeholders meet on small biz data collection proposals
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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