NAFCU,
CUs meet with CPFI Subcommittee Chairman Perlmutter
Representatives
from NAFCU-member credit unions Tuesday joined members of the association's
advocacy team to offer industry insights with House Financial Services Committee
Consumer Protection and Financial Institutions Subcommittee Chairman Ed Perlmutter,
D-Colo. During the videoconference meeting, the group discussed a number of key
topics, including small business lending and increased liquidity at credit unions amid the coronavirus pandemic.
CFPB
updates ATR/QM small entity compliance guide, plans to revisit rules
The CFPB Tuesday issued an updated small entity compliance guide for its ability
to repay (ATR)/qualified mortgage (QM) rule to account for recent changes made
to the general QM definition and creation of the new category of seasoned QMs.
Federal
regulators offer guidance for FIs affected by Texas storms
The federal
financial regulators, including the NCUA, Monday issued an interagency statement
related to supervisory practices for financial institutions that have been impact
by the recent Texas winter storms. Through the statement, the agencies indicated
that they intend to provide appropriate regulatory assistance to affected institutions related to a number of issues.
Build
and Strengthen Your Core Compliance Knowledge
Attend NAFCU's Virtual
Spring Regulatory Compliance School to understand credit union compliance from
A to Z.
Economy,
BSA, tax issues covered by several Hill hearings
Lawmakers on Capitol
Hill held several hearings Tuesday covering the Fed, Treasury, and IRS. Of note,
Federal Reserve Chairman Jerome Powell testified before the Senate Banking Committee
and indicated "the economy is a long way from our employment and inflation
goals, and it is likely to take some time for substantial further progress to be achieved."
300K more PPP loans approved
According to the Small Business Administration's most recent paycheck protection
program (PPP) data, roughly 300,000 loans were made during the week ending Feb.
21. There have been 1.9 million loans approved in 2021, totaling more than $140 billion.
