FHFA
Director Calabria removed following SCOTUS decision
Following the U.S.
Supreme Court's decision to uphold part of a lower court ruling that the
Federal Housing Finance Agency's (FHFA) structure is unconstitutional under
the separation of powers doctrine because the agency's lone director is insufficiently
accountable to the president, the White House removed FHFA Director Mark Calabria
from his position. Calabria was appointed to the position in 2019 by President Donald Trump.
Berger
recommends an increase to FCU interest rate ceiling ahead of NCUA Board meeting
NAFCU President and CEO Dan Berger wrote to the NCUA Wednesday to recommend the
board consider increasing the interest rate ceiling above the current 18 percent
during today's NCUA Board meeting – the interest rate ceiling was listed
as an item to be considered on the agenda.
CUs,
NAFCU meet with House Ways and Means Committee Member Sanchez
NAFCU-member
credit unions from California, including Bourns Employees Federal Credit Union,
Camino Federal Credit Union, F&A Federal Credit Union, Kinecta Federal Credit
Union, and NuVision Federal Credit Union Wednesday joined NAFCU President and
CEO Dan Berger and members of the association’s advocacy team for a meeting
with House Ways and Means Committee Member Rep. Linda Sanchez, D-Calif. During
the virtual meeting, the group discussed a number of key topics including protecting
the credit union tax exemption and reporting requirements included in President
Joe Biden's fiscal year 2022 budget proposal.
TODAY: NAFCU's State of the Industry
Event
Join over 500 CUs to hear the industry's best minds dissect
the current state of affairs, at our complimentary virtual event. You'll also
receive a critical regulatory update from NCUA Chairman Todd Harper.
Today:
NAFCU's State of the Industry complimentary virtual event
Today,
join NAFCU's award-winning staff, industry experts and fellow credit union
executives and board members from around the country for NAFCU's State of
the Industry complimentary virtual event. The association has leveraged virtual
technology to deliver the data, trends, and key takeaways that are necessary for
the industry to move forward beyond the coronavirus pandemic.
NAFCU
urges House to overturn harmful true lender rule
NAFCU’s Brad Thaler
Wednesday wrote to the House in anticipation of today’s vote to call for support
of a resolution to overturn the Office of the Comptroller of the Currency's
(OCC) true lender rule using the Congressional Review Act (CRA). Last month,
the Senate voted in favor of repealing the rule.
New
home sales faced another setback in May
New home sales dipped 5.9 percent
from April's downwardly revised rate of 817,000 annualized units to 769,000
units in May. Sales were up 9.2 percent versus May 2020. NAFCU's Curt Long
analyzes the data and notes new home sales faced another setback in May in a new Macro Data Flash report.
