Also: Thaler touts NDAA benefits as House preps vote; Berger, HUD's Montgomery talk housing finance reform, more



NAFCU TODAY | The News You Need Daily.

December 8, 2020



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NAFCU calls for more CDFI support ahead of funding deadline [ [link removed] ]
Current funding for the federal government is set to expire at midnight Friday. While negotiations on a longer-term funding package continue, the House tomorrow is expected to vote on a short-term continuing resolution – followed by a Senate vote later this week – to extend the deadline until next week and avoid a government shutdown.


NAFCU shares support of NDAA, urges House to pass legislation [ [link removed] ]
As the House prepares to consider the fiscal year 2021 National Defense Authorization Act (NDAA), NAFCU Vice President of Legislative Affairs Brad Thaler urged the chamber to support and pass the important piece of legislation.


NAFCU, HUD discuss CU mortgage lending trends, housing finance reform [ [link removed] ]
NAFCU President and CEO Dan Berger met with Department of Housing and Urban Development (HUD) Deputy Director Brian Montgomery last week to discuss housing finance reform efforts and several Federal Housing Agency (FHA) improvements. NAFCU is a leader in housing finance reform efforts to ensure credit union priorities, such as maintaining unfettered access to the secondary mortgage market, are addressed in any final housing finance reform.






NAFCU, trades call for OCC to postpone consideration of Figure Bank charter [ [link removed] ]
NAFCU Monday joined with other financial services trade associations to urge the Office of the Comptroller of the Currency (OCC) to postpone its consideration of Figure Bank's application for a national bank charter pending evaluation of public comments and consultation with the Federal Reserve, the Federal Deposit Insurance Corporation, and the Department of Justice.


SCOTUS holds arguments for autodialer, FHFA structure lawsuits [ [link removed] ]
The U.S. Supreme Court this week is holding oral arguments for two cases that could have implications for credit unions: One challenging the definition of an automatic telephone dialing system (ATDS, or autodialer) under the Telephone Consumer Protection Act (TCPA), as well as one related to the single-director structure of the Federal Housing Finance Agency (FHFA).


CUs: Offer feedback on NCUA's interest capitalization proposal [ [link removed] ]
NAFCU sent members a Regulatory Alert Monday detailing the NCUA's proposed rule to allow the capitalization of interest in connection with loan workouts and modifications. NAFCU has consistently called on the NCUA to make this change and provide credit unions with much needed relief – during the pandemic and beyond – to help their members meet payment obligations on all types of member loans. 



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