Also: Senate version of NAFCU-backed Underserved Areas bill introduced
September 20, 2022
Reps. Welch and Gooden introduce House version of NAFCU-opposed Credit Card Competition Act ([link removed] )
On Monday, Representatives Peter Welch, D-Vt., and Lance Gooden, R-Texas, introduced the House companion to the Credit Card Competition Act of 2022 (CCCA), which was introduced in late July by Senators Dick Durbin, D-Ill., and Roger Marshall, R-Kansas.
Senate introduces version of NAFCU-backed FOM bill ([link removed] )
Sen. Alex Padilla, D-Calif., yesterday introduced the Expanding Financial Access for Underserved Communities Act, a companion bill to the House version introduced in March by House Financial Services Committee Chairwoman Maxine Waters, D-Calif.
CFPB releases new HMDA data report on mortgage lending in 2021 ([link removed] )
This week the CFPB released a new Home Mortgage Disclosure Act (HDMA) data report on mortgage lending trends in 2021. The results show a shift from refinance loans in 2020 to home purchase loans in 2021, with a greater share of home purchase loans going to Asian, Black, and Hispanic white borrowers relative to the share of home purchase loans for non-Hispanic white borrowers. Additionally, the amount of home equity lines of credit (HELOCs) increased from 869,000 in 2020 to 962,000 in 2021, a 10.7 increase; refinance originations increased from 43,000 to 59,000 in 2021, an increase of over 36 percent.
Latest Compliance Resource for Compliance Professionals
Gain insight into all the major regulations in one convenient location with just one purchase of the NAFCU Compliance Roadmap for your entire CU!
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NAFCU CU Industry Trends report reveals share growth has returned to pre-COVID level ([link removed] )
NAFCU’s latest CU Industry Trends report revealed that membership at credit unions remains sturdy, and share growth has returned to its pre-COVID level. As a result, auto loans are surging, and mortgage loans are rising as credit unions retain a higher share portfolio.
NAFCU’s annual CFO Summit begins today ([link removed] )
NAFCU’s 2022 CFO Summit, happening in-person in Annapolis, Md., starts today. Attendees will learn the best practices to advance credit unions even further into the future, while strengthening their understanding of the latest industry, economic, and regulatory data trends affecting their day-to-day roles and responsibilities.
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NAFCU CALENDAR ([link removed] )
SEPT
20 - 22
CFO Summit ([link removed] )
Annapolis, MD
SEPT
26
NCUA - Policy Statement on Prudent Commercial Real Estate Loan Accommodations and Workouts ([link removed] )
Comments Due to NAFCU
SEPT
27 - 29
Regulatory Compliance & BSA Seminar ([link removed] )
Louisville, KY
SEPT
29
Coming Soon: CECL ([link removed] )
Webinar
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Maximize Your Lending Success ([link removed] )
Attend NAFCU’s Lending Conference. You'll hear from and network with the industry's most successful lenders. View agenda ([link removed] ) .
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