The CFPB issued a request for information (RFI) Thursday stating the bureau is “asking for public input on ways to spur new mortgage products that help households.” The CFPB is asking for information on innovative ideas to “address persistent market failures and to help borrowers access beneficial refinancing along with short- and long-term loss mitigation assistance.” The bureau said this RFI is part of its initiative to foster innovation and competition in consumer finance markets.
The NCUA Board met Thursday to receive a briefing on the Share Insurance Fund (SIF) Quarterly Report, in addition to updates on two proposed rules: subordinated debt and member expulsion in the federal credit union (FCU) bylaws, of which the latter implements the changes made by the Credit Union Governance Modernization Act (CUGMA). Of note, NAFCU Regulatory Affairs Aminah Moore attended the meeting, one of first to occur in-person since the pandemic.
Thursday, NAFCU concluded its 2022 CFO Summit in Annapolis, Md., where attendees learned the best practices to advance credit unions even further into the future, and strengthened their understanding of the latest industry, economic, and regulatory data trends affecting their day-to-day roles and responsibilities.
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NAFCU's widely read NAFCU Today is credit union leaders' go-to source for the latest on issues impacting the credit union industry. For those short on time, here's a roundup of this week's top need-to-know updates and resources.
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