Also: Hunt asks NCUA to further delay, revise RBC; Get NAFCU merger resources today



NAFCU TODAY | The News You Need Daily.

July 26, 2019



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CFPB considers allowing ATR/QM patch to expire [ [link removed] ]
The CFPB plans to allow the Ability to Repay/Qualified Mortgage (ATR/QM) patch to expire in 2021, or after a short extension if necessary to facilitate a transition, according to an Advance Notice of Proposed Rulemaking (ANPR). The ATR/QM patch allows loans purchased or guaranteed by the government-sponsored enterprises to exceed the bureau's 43 percent debt-to-income ratio.


Hunt to NCUA: Consider strength of CUs in RBC framework [ [link removed] ]
NAFCU's Carrie Hunt urged the NCUA to consider "the totality of new regulation imposed since the financial crisis, much of which has sought to improve the safety and soundness of the financial sector as a whole," as it seeks ways to moderate the effects of its risk-based capital (RBC) rule. Last month, the board moved forward with a proposed rule to further delay the rule's implementation date to Jan. 1, 2022.


Merger, FOM resources available for CU growth [ [link removed] ]
As credit unions engage in strategic planning to ensure their continued success and growth, NAFCU has resources available related to mergers and acquisitions, field of membership (FOM) and more. These resources aim to help credit unions determine the right path of growth and understand the process for these changes.






Debt collection group fined for violations [ [link removed] ]
The CFPB and Ney York Attorney General have filed settled with a debt collection group for violating the Consumer Financial Protection Act and Fair Debt Collection Practices Act, as well as New York laws related to collecting consumer debt.


Budget deal passes House, heads to Senate [ [link removed] ]
The House Thursday passed the two-year, $1.37 trillion budget deal that also would suspend the debt ceiling to July 2021. The legislation now heads to the Senate; the president is expected to sign it.



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