Also: NCUA releases proposed 2021, 2022 budgets; FHFA extends loan flexibilities through end of year
NAFCU TODAY | The News You Need Daily.
November 16, 2020
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This week: NAFCU ramps up lame duck advocacy push, NCUA Board meets [ [link removed] ]
NAFCU's award-winning government affairs team will continue to push forward with its bold advocacy and engage with lawmakers and industry stakeholders this week. On Capitol Hill, relief negotiations continue as members of the House and Senate remain in Washington.
NCUA proposes $315M in spending for 2021 [ [link removed] ]
The NCUA Friday released its proposed budget for 2021 and 2022, which estimates $315.6 million and $341.7 million, respectively, for its operating budget. The agency is set to hold a budget update during its November board meeting this Thursday.
NAFCU voices support for AML program improvements, offers recommendations [ [link removed] ]
NAFCU’s Kaley Schafer offered support for defining an overall “effective and reasonably” designed anti-money laundering (AML) program – including an explicit requirement for a risk-assessment – in a letter sent in response to the Financial Crimes Enforcement Network’s (FinCEN) advance notice of proposed rulemaking (ANPR) gathering public feedback on potential improvements to AML programs. However, Schafer noted that the risk-assessment should not require national AML priorities due to the increased compliance burdens and voiced several additional recommendations.
FHFA extends GSE’s loan origination flexibilities [ [link removed] ]
The Federal Housing Finance Agency (FHFA) announced Friday that the government-sponsored enterprises (GSEs) - Fannie Mae and Freddie Mac - will extend several loan origination flexibilities until Dec. 31, 2020 to ensure continued support for borrowers amid the ongoing coronavirus pandemic.
CPI remains flat in October, NAFCU expects near-zero rates through 2021 [ [link removed] ]
On a seasonally-adjusted basis, overall consumer prices were flat in October. The Bureau of Labor Statistics reported that the overall consumer price index (CPI) grew 1.2 percent over the 12-month period.
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