Berger
blasts bankers' criticism of NCUA's subordinated debt rule
In an editorial published in American Banker, NAFCU President and CEO Dan Berger
pushed back against the American Bankers Association's criticism of the NCUA's new subordinated debt rule.
This
week: Congress poised to pass additional relief, FY2021 funding
Congressional
leadership announced yesterday that a deal on a Phase 4 coronavirus relief package
had been reached after negotiating through the weekend. Lawmakers intend to pass
the relief package alongside the fiscal year 2021 funding omnibus measure; Congress
passed two continuing resolutions since Friday to extend current funding and prevent
a federal government shutdown while the deal was being finalized.
NCUA
finalizes 2021-2022 budget, rule on operating fees
The NCUA Board Friday
again approved all items on its agenda – including the agency's 2021-2022
budget and a final rule on annual operating fee assessment – on the final day
of its two-day meeting. Earlier in the week, the board approved a final rule on
subordinated debt and a proposed rule related to overdraft policy.
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CFPB
finalizes disclosures for debt collection with NAFCU-sought changes
The CFPB last week issued a final rule on consumer disclosures related to debt
collection. The bureau in October finalized its debt collection rule – which
applies to third-party debt collectors and heeded several concerns NAFCU had flagged
for the bureau in its comments on the proposal – and indicated it would issue a separate rulemaking for disclosures.
