Also: NAFCU monitoring NCUA Board meeting, Harper testifies; updates on the CFPB's QM rule



NAFCU TODAY | The News You Need Daily.

May 17, 2021



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Berger defends CU-bank mergers, blasts bankers' misleading claims [ [link removed] ]
NAFCU President and CEO Dan Berger, on Friday, rebuked the American Bankers Association's latest attempt to mislead congressional leaders and regulators on bank-credit union mergers in a letter to lawmakers. 


This week: NAFCU engaged as NCUA Board meets, Harper testifies, FASB hosts CECL roundtable [ [link removed] ]
The House and Senate are in session this week and NAFCU will continue its advocacy on several issues under consideration in Congress, including related to the true lender rule, tax reporting requirements, debt collection, interchange, postal banking, and more.


New NAFCU Network insight post outlines updates on the CFPB’s QM rule [ [link removed] ]
In a new post on the NAFCU Compliance, Risk & BSA Network, NAFCU’s Kaley Schafer provides an update on the CFPB’s general qualified mortgage (QM) rule, first published in December. The mandatory compliance date of the rule was recently delayed from July 1, 2021 to Oct. 1, 2022.






NAFCU details Fed proposals related to interchange regulation, account payment services [ [link removed] ]
NAFCU Friday sent members two new Regulatory Alerts breaking down updates from the Federal Reserve: the first detailing a proposal to make changes to Regulation II, which focuses on the prohibition concerning network routing exclusivity, and the second breaking down a request for comment on a set of proposed guidelines the Federal Reserve Banks will use when evaluating requests for accounts and payments services.


Retail sales flat in April; NAFCU expects steady growth in 2021 [ [link removed] ]
Total retail sales remained stable in April following March's upwardly revised spike of 10.7 percent. Of note, the February number was downwardly revised to a 2.9 percent slide.



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