Also: Hunt urges NCUA to prioritize appraisal modernization; Thaler pushes back on postal banking



NAFCU TODAY | The News You Need Daily.

March 11, 2021



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Lawmakers tackle COVID relief, PPP, nominations [ [link removed] ]
Lawmakers were busy on Capitol Hill Wednesday as the House voted to accept the Senate's changes to the next round of coronavirus relief, the House Small Business Committee reviewed the status of the paycheck protection program (PPP), and senators considered several nominations to President Joe Biden's cabinet and federal agencies.


NAFCU calls on NCUA to address appraisal modernization, coordinate with other agencies [ [link removed] ]
In a letter sent Wednesday, NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt urged the NCUA to address appraisal modernization standards by expediting coordination with other agencies. Specifically, Hunt asked that the agency move ahead with its interagency rulemaking to establish quality control standards for the use of automated valuation models (AVMs) under the Dodd-Frank Act. 


NAFCU pushes back on postal banking, offers ways for CUs to help consumers [ [link removed] ]
Ahead of a House Appropriations subcommittee oversight hearing today on the U.S. Postal Service (USPS), NAFCU's Brad Thaler reiterated the association's concerns with postal banking and argued credit unions are well positioned to achieve the goals of such proposals.






Reg Alert details proposed QM delay [ [link removed] ]
In a new Regulatory Alert sent to members Wednesday, NAFCU detailed how the CFPB's recently proposed rulemaking to delay the mandatory compliance date of its QM rule could impact credit unions. NAFCU previously called for an 18-month delay on the general QM definition and extension of the patch in the wake of the ongoing pandemic and has highlighted the benefits of the temporary government-sponsored enterprise (GSE) patch in providing credit unions with the ability to sell their loans into the secondary market.


COVID credit risk focus of upcoming NCUA webinar [ [link removed] ]
The NCUA will host a webinar March 24 to help credit unions monitor and identify areas of credit risk resulting from the coronavirus pandemic. The agency's 2021 supervisory priorities include credit risk management and how credit unions are working with members impacted by the coronavirus pandemic while maintaining proper oversight of lending activities and compliance requirements.


CPI rises in February, driven by energy prices [ [link removed] ]
On a seasonally-adjusted basis, overall consumer prices rose 0.4 percent in February, with the Bureau of Labor Statistics reporting the overall consumer price index (CPI) grew 1.7 percent over the 12-month period. In a new Macro Data Flash report, NAFCU Chief Economist and Vice President of Research Curt Long noted that most of the inflation was concentrated in energy prices.



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