This
week: NAFCU ramps up lame duck advocacy push, NCUA Board meets
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
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
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.
NAFCU's
Virtual Management and Leadership Institute: Only a few days left to register
This popular event has sold out the last 3 years!
FHFA
extends GSE’s loan origination flexibilities
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
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.
