NAFCU delivers up-to-the minute information on key legislative, regulatory and compliance issues facing credit unions. Browse and filter the news below to stay in the know.

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  • NCUA issues OTR methodology proposal; NAFCU to ensure fairness (Friday, June 23, 2017)
    The NCUA Board today issued a request for comment on its overhead transfer rate methodology recommendations, an issue that NAFCU has long urged the NCUA to be fully transparent about when setting its rate and operating fees.
  • CFPB report, field hearing highlight student loan borrowers' complaints (Friday, June 23, 2017)
    The CFPB on Thursday issued a report highlighting complaints from student loan borrowers about the Public Service Loan Forgiveness program, which provides people in public service jobs with a path to loan forgiveness after 10 years.
  • NCUA Board to address OTR, asset securitization today (Friday, June 23, 2017)
    The NCUA Board today will take up the agency's overhead transfer rate methodology during its open board meeting and is likely to finalize its safe harbor rulemaking with respect to asset securitization.
  • NAFCU praises McWatters' call for reg relief, FOM changes in hearing (Friday, June 23, 2017)
    NCUA Acting Chairman J. Mark McWatters, in remarks given before the Senate Banking Committee Thursday, pressed the need for all credit unions to be able to add underserved areas to their fields of membership as a way Congress can act to provide regulatory relief to the industry.
  • NAFCU, others urge inclusion of CFPB commission language in spending bills (Friday, June 23, 2017)
    NAFCU, with 21 other trade associations, urged subcommittee leaders under the House and Senate Appropriations Committees on Thursday to include language in their fiscal 2018 spending bills that would transition the governance structure of the CFPB to a five-person bipartisan commission.
  • NAFCU sends out housing principles; hearing slated June 29 on topic (Friday, June 23, 2017)
    NAFCU yesterday sent its recently released housing finance reform principles to all members of Congress and top members of the administration. Concurrently, the Senate Banking Committee announced a hearing next week on the topic.
  • NAFCU praises McWatters' call for reg relief in Senate testimony (Thursday, June 22, 2017)
    NCUA Acting Chairman J. Mark McWatters, in remarks being given this hour before the Senate Banking Committee, said the agency is looking to provide the credit union industry with more regulatory relief and streamlined operations, and offered both regulatory and legislative ideas to make that happen.
  • NCUA asks court to deny bankers' motion for summary judgment (Thursday, June 22, 2017)
    The NCUA on Wednesday filed a request with the U.S. District Court for the District of Columbia to deny the American Bankers Association's motion for summary judgment against the agency's revised field-of-membership rule, which took effect this February.
  • CFPB field hearing today on student loan servicing (Thursday, June 22, 2017)
    The CFPB will take a closer look at student loan servicing during a field hearing today beginning at 10 a.m. Eastern in Raleigh, N.C.
  • Emmer introduces NAFCU-backed bill aimed at easing HMDA reporting (Thursday, June 22, 2017)
    Rep. Tom Emmer, R-Minn., introduced a NAFCU-backed bill that would increase the reporting threshold for open-end lines of credit and closed-end mortgages under the Home Mortgage Disclosure Act.
  • Existing-home sales up 1.1% in May (Thursday, June 22, 2017)
    Existing-home sales increased 1.1 percent nationwide in May to a seasonally adjusted annual rate of 5.62 million. NAFCU Research Assistant Yun Cohen noted that "despite a slight increase in new listings during the month, inventory remains persistently low and continues to constrain sales."
  • McWatters testifies before Senate Banking today on economic growth (Thursday, June 22, 2017)
    NCUA Acting Chairman J. Mark McWatters is set to testify today before the Senate Banking Committee as part of the panel's series of hearings focused on fostering economic growth.
  • Insider views on reg relief revealed in July 11 NAFCU member call-in (Thursday, June 22, 2017)
    NAFCU members will learn the latest on the association's efforts and expectations regarding regulatory relief and Dodd-Frank Act reform ahead for credit unions during the association's July 11 member-only call-in featuring President and CEO Dan Berger and senior government affairs staff.
  • NAFCU releases core housing finance reform principles (Thursday, June 22, 2017)
    As leaders in Congress begin to address the issue of housing finance reform, NAFCU today is releasing its core principles that it believes will ensure the safety and soundness of the credit union system and should be included in whatever reform option is ultimately adopted.
  • House panel concludes flood insurance mark-up; awaiting Senate proposals (Thursday, June 22, 2017)
    The House Financial Services Committee on Wednesday finished marking up several National Flood Insurance Program bills that would change the way the program handles claims, calculates premium rates and purchases private reinsurance, among other things.
  • FASB board member meets with NAFCU, talks CECL (Wednesday, June 21, 2017)
    During a meeting yesterday with Financial Accounting Standards Board Member Hal Schroeder, NAFCU discussed credit unions' concerns with the "current expected credit loss" standard that FASB finalized in June 2016.
  • House Financial Services to resume flood insurance mark-up today (Wednesday, June 21, 2017)
    Picking up where it left off last week, the House Financial Services Committee will resume mark-up of flood insurance legislation at 10 a.m. today.
  • NAFCU's Hunt in CUToday: 'The door is opening for regulatory relief' (Wednesday, June 21, 2017)
    Writing in CUToday, NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt said the association is aggressively pursuing legislation on several fronts to ensure that "credit unions get real relief from burdensome rules."
  • Compliance Blog reviews mortgage servicing rules, CFPB consent order (Wednesday, June 21, 2017)
    In today's NAFCU Compliance Blog, Regulatory Compliance Counsel Jennifer Aguilar explains the legal basis for action taken by the CFPB against Fay Servicing LLC, a mortgage servicer that engaged in illegal foreclosure practices.
  • NAFCU webcasts to prep CU reps for NCRM, NCBSO exams (Tuesday, June 20, 2017)
    For those credit union representatives interested in NAFCU's Certified Risk Manager or Certified Bank Secrecy Officer designations, the association is conducting two webcasts, at no charge, next week to help with exam preparations.
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