Also: California CUs, NAFCU meet with HFSC Chairwoman Waters; Rules on CLF, asset thresholds on NCUA agenda



NAFCU TODAY | The News You Need Daily.

March 12, 2021



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CFPB rescinds 'abusive' policy; NAFCU advocates for clarity [ [link removed] ]
The CFPB Thursday rescinded its policy statement related to the "abusive" prong of the unfair, deceptive, or abusive acts or practices (UDAAP) provision. The statement was issued in January 2020 following calls by NAFCU to clarify the prong and efforts by the bureau to gather feedback on the issue.


NAFCU-member CUs, Berger discuss CU needs with HFSC Chairwoman Waters [ [link removed] ]
Representatives from NAFCU-member credit unions, including Kinecta Federal Credit Union, Schools First Federal Credit Union, and California Credit Union, Thursday joined members of the association's advocacy team to offer industry insights with House Financial Services Committee Chairwoman Maxine Waters, D-Calif. During the videoconference meeting, the group discussed a number of key topics, including the various ways credit unions have helped their members, small businesses, and their communities amid the coronavirus pandemic.


CLF, asset thresholds for large CUs rules on NCUA agenda [ [link removed] ]
The NCUA Board next week is set to issue two final interim rules: One related to the Central Liquidity Facility (CLF) and one on asset thresholds pertaining to large credit unions. In addition, the board will receive a briefing on the NCUA Guaranteed Note (NGN) and Asset Management Estates (AMEs) Programs.






5 things to know this week [ [link removed] ]
NAFCU's widely-read NAFCU Today is credit union leaders' go-to source for the latest on issues impacting the credit union industry. For those short on time, here's a roundup of this week's top need-to-know news, including the introduction of a bill to extend the PPP, new advisories from FinCEN, NCUA Chairman Todd Harper's focus on DEI, and more.


FI regulators propose updated flood insurance Q&As [ [link removed] ]
The federal financial regulators – including the NCUA – Thursday proposed 24 updated flood insurance Q&As regarding private flood insurance. NAFCU previously identified a need for additional clarity regarding private flood insurance following the agencies' efforts to update the flood insurance Q&As. 


New on the Compliance Blog: CFPB housing insecurity report, limitation of services, discrimination [ [link removed] ]
As credit unions work to meet the needs of more than 124 million Americans during the coronavirus pandemic, NAFCU's award-winning regulatory compliance team continues to keep credit unions informed with new posts on the Compliance Blog every Monday, Wednesday, and Friday.



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