Compliance
Monitor highlights 2020 supervisory priorities, RDC litigation update
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
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
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
Supporting legislation and regulation that helps
credit unions grow.
Housing
starts set records in December
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
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.
