Also: NAFCU urges revisions as CFPB proposes GSE patch extension, shares remittance rule concerns



NAFCU TODAY | The News You Need Daily.

January 22, 2020



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Compliance Monitor highlights 2020 supervisory priorities, RDC litigation update [ [link removed] ]
In the latest edition of NAFCU's Compliance Monitor – a free, member-only benefit – NAFCU's Regulatory Compliance Counsel Loran Jackson details the NCUA's recently released 2020 supervisory priorities and provides a round-up of resources to assist credit unions in preparing for 2020 exams.


NAFCU, trades call for revisions as CFPB plans to extend GSE patch [ [link removed] ]
CFPB Director Kathy Kraninger indicated in a letter to lawmakers last week that the bureau plans to extend the Ability to Repay/Qualified Mortgage rule’s exemption for loans eligible for purchase by the government sponsored enterprises (GSE) from its 43 debt-to-income (DTI) cap, an exemption commonly referred to as the GSE Patch. NAFCU joined with eight other trade groups Tuesday to urge the bureau to continue using a modified DTI ratio and suggest changes to Appendix Q.


NAFCU reiterates remittance rule concerns to CFPB [ [link removed] ]
NAFCU Senior Counsel for Research and Policy Andrew Morris sent a letter to the CFPB Tuesday addressing NAFCU's continued concerns about remittance transfers under the Electronic Fund Transfer Act. Last month, the CFPB issued a proposal related to its remittance rule that included an increase to the safe harbor threshold from its current level of 100 transfers in the previous and current calendar year to 500 transfers. Previously, NAFCU had urged the Bureau to adopt an even larger change.


NAFCU's 2020 Advocacy Priorities. Because to us, it's personal. Read Advocacy Priorities [link removed]



Housing starts set records in December [ [link removed] ]
While lack of affordable inventory has hampered the housing market in recent months, the number of home groundbreakings rose to a 13-year high in December – up 16.9% to 1.61 million annualized units – according to data released by the Census Bureau.


Nominations for NAFCU's Annual Awards now open [ [link removed] ]
NAFCU member credit unions have until Feb. 28 to submit their entries for the association's 2020 Annual Awards Competition, which recognizes association member credit unions, professionals, and volunteers for their dedication and achievement within their institutions, communities, and the industry.



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