Also: Virtual Reg Compliance School kicks off today; Consumer credit rises in June
NAFCU TODAY | The News You Need Daily.
August 10, 2021
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NAFCU to Ginnie Mae: Provide CUs parity with banks by excluding CUs from proposed capital requirements [ [link removed] ]
NAFCU Regulatory Affairs Counsel Aminah Moore Monday urged the Government National Mortgage Association (Ginnie Mae) to offer credit unions parity with banks by excluding all credit unions from the proposed additional capital requirements imposed on non-depository institutions. The letter was sent in response to Ginnie Mae's request for information (RFI) on its updates to eligibility requirements for single-family mortgage-backed securities (MBS), issued in July.
Today: NAFCU's Virtual Summer Regulatory Compliance School kicks off [ [link removed] ]
NAFCU's Virtual Summer Regulatory Compliance School begins this morning with welcome remarks from NAFCU President and CEO Dan Berger and features an agenda designed to equip compliance professionals with a deep understanding of key regulations, rules, and legislative updates that are impacting credit union operations daily.
Consumer credit grows at strongest pace in years [ [link removed] ]
Total consumer credit rose 10.6 percent, at a seasonally-adjusted, annualized rate, in June and is up 4.2 percent versus a year ago. Revolving credit, which is primarily credit cards, rose 22 percent during the month and is down 0.2 percent compared to June 2020.
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