Also: Oklahoma's CU's Dawson touts benefits of Compliance Network; Berger talks advocacy, growth with Business View
NAFCU TODAY | The News You Need Daily.
November 12, 2020
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Continued tightening of lending standards, weak demand revealed in Fed survey [ [link removed] ]
The Federal Reserve's third-quarter senior loan officer opinion survey (SLOOS) revealed banks' continued tightening of standards and weakening demand for loans to consumers.
NAFCU Network Spotlight: Q&A with Oklahoma's CU's Laura Beth Dawson [ [link removed] ]
Over the next several weeks, NAFCU Today will be giving credit unions an inside look at each of the seven NAFCU Networks – offered complimentarily to member credit union professionals – via a Q&A with a network member. Today's feature on the Compliance, Risk & BSA Network comes from Oklahoma's Credit Union Risk Manager Laura Beth Dawson, who is also a NAFCU Certified Compliance Officer (NCCO). See why Dawson encourages all compliance professionals to join the network.
NAFCU's growth, advocacy efforts featured in Business View Magazine [ [link removed] ]
Since 2013, NAFCU's membership has grown by over 40 percent and the association now represents 54 percent of the credit union industry's assets. NAFCU President and CEO Dan Berger sat down with Business View Magazine for an in-depth Q&A to discuss the association's keys to success and support of credit unions.
FHFA approves Classic FICO for GSE use [ [link removed] ]
The Federal Housing Finance Agency (FHFA) Tuesday validated and approved the Classic FICO credit score model for use by the government-sponsored enterprises (GSEs). NAFCU is supportive of regulatory and legislative efforts to allow for the use of alternative models in order to bring more competition among credit score providers in the mortgage market, which will benefit unbanked and underbanked consumers.
NCUA's Hood gives agency update during Senate testimony, will appear before House today [ [link removed] ]
During an appearance before the Senate Banking Committee Tuesday, NCUA Chairman Rodney Hood gave an update on the NCUA's response to the coronavirus pandemic, highlighting that the agency is focused on the effects of loan payment forbearance, loan delinquencies, and modifications on credit union liquidity. Hood testified as part of a panel with other banking regulators to discuss oversight of financial regulators.
Fed approves 2021 fees for priced services [ [link removed] ]
The Federal Reserve Board has approved the fee schedules for payment services the Federal Reserve Banks provide to depository institutions in 2021. The changes are estimated to result in a 2.4 percent average price increase across their services.
CUs: Share insights on NCUA exam modernization [ [link removed] ]
As the NCUA considers future exam modernization, credit unions are encouraged to share their insights on the agency's current virtual and offsite exam processes by participating in this month's Economic & CU Monitor survey.
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