NAFCU
calls for more CDFI support ahead of funding deadline
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
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
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.
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NAFCU,
trades call for OCC to postpone consideration of Figure Bank charter
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
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
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.
