This
week: NCUA to consider subordinated debt, CU-bank merger issues
While
the House has a district work period this week, the Senate will be in session
as it is set to begin impeachment trial proceedings today, which will impact its
normal business schedule. NAFCU will also attend Thursday's NCUA Board meeting,
during which the agency is expected to issue proposals for subordinated debt and credit union-bank merger processes.
NAFCU
meets with NCUA on exams, supervisory priorities
NAFCU Executive Vice
President of Government Affairs and General Counsel Carrie Hunt, Chief Economist
and Vice President of Research Curt Long, and Senior Counsel for Research and
Policy Andrew Morris met Friday with NCUA Office of Examinations and Supervision
Director Scott Hunt to discuss the agency's exam modernization efforts and 2020 supervisory priorities.
RDC
litigation update in new Compliance Blog post
In the latest post on
the NAFCU Compliance Blog, NAFCU Vice President of Regulatory Compliance Brandy
Bruyere breaks down recent updates in the lawsuits between USAA and Wells Fargo
related to remote deposit capture (RDC) technology patents, and provides information
on things for credit unions to consider when offering such services.
NAFCU's 2020 Advocacy Priorities
Supporting legislation and regulation that helps credit unions grow.
NAFCU
recommends areas for CFPB to review under TRID
As the CFPB prepares
for its assessment of the Truth in Lending Act (TILA)/Real Estate Settlement Procedures
Act (RESPA) integrated disclosures (TRID) rule, NAFCU's Kaley Schafer urged
the bureau to carefully consider the rule's impact – including associated
compliance costs, the ability to sell to the secondary market, and products offered.
NAFCU's
Kossachev shares multi-lender pools concerns, importance of GSEs to CUs
In response to the Federal Housing Finance Agency's (FHFA) Request for Input
(RFI) on the pooling practices for the agency's To-Be-Announced (TBA)-eligible
Uniform Mortgage-Backed Securities (UMBS), NAFCU Director of Regulatory Affairs
Ann Kossachev shared the association's concerns that excluding certain loans
from multi-lender pools could harm credit unions and other responsible lenders.
