Also: Litigation updates on disparate impact, HMDA thresholds; Overdraft proposal gives flexibility to CUs, members
NAFCU TODAY | The News You Need Daily.
February 16, 2021
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This week: NAFCU engaged as relief negotiations continue, NCUA Board meets [ [link removed] ]
NAFCU's award-winning government affairs team will monitor movement on Capitol Hill and engage with lawmakers as relief negotiations continue. To join NAFCU in its advocacy, credit unions can access the association's resource page and Grassroots Advocacy Center to build relationships and advocate on behalf of the industry.
Litigation updates on HUD's disparate impact, CFPB's HMDA rule [ [link removed] ]
As NAFCU continues to monitor the litigation landscape for issues that could impact credit unions' operating environment, there are two recent updates related to the Department of Housing and Urban Development's (HUD) disparate impact rule and the CFPB's rule to increase reporting thresholds under the Home Mortgage Disclosure Act (HMDA).
NAFCU to NCUA: Overdraft proposal provides CUs flexibility to meet members' needs [ [link removed] ]
As the NCUA considers a proposed rule to remove the 45-day limit in its requirements for an overdraft policy in the agency's lending rule, NAFCU's Elizabeth LaBerge offered the association's support for "replac[ing] this timeframe with a credit union-determined timeline that is reasonable and consistently applied as this will provide credit unions with appropriate flexibility to assist their members."
Consistent processing of PPP loans is necessary, NAFCU tells SBA [ [link removed] ]
NAFCU Senior Regulatory Affairs Counsel Kaley Schafer wrote to the Small Business Administration (SBA) Friday – in response to the agency's interim final rules (IFRs) regarding first draw and second draw paycheck protection program (PPP) loans – calling for additional guidance for credit unions as they begin to process applications and address tax implications.
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