NAFCU
to Ginnie Mae: Provide CUs parity with banks by excluding CUs from proposed capital requirements
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
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
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.
Watch
James Carville keynote Congressional Caucus
Hear from political
strategist James Carville as he delves deep into the current state of affairs,
reviews best practices for achieving progress during congressional gridlock, and
discusses navigating a 50-50 Senate.
