Board of Directors
Become a NAFCU Member
NAFCU Employment Opportunities
Great links, big ideas and a splash of random commentary for CU leaders.
Legislative & Regulatory Issues
Annual Privacy Disclosure Notices
CFPB's Qualified Mortgage Definition
Credit Union Tax Exemption
Defense Credit Union Issues
Housing Finance Reform
Member Business Lending
Regulatory Comment Letters
Legislative Policy Letters
Beltway Buzz Enewsletter
The Regulatory Affair Enewsletter
Grassroots Action Center
Download RBC2 talking points to help write your comment letter to NCUA.
Regulation & Compliance
Contact the Compliance Team
CFPB Mortgage Rules Compliance
Monthly Compliance Enewsletter
Quarterly BSA Enewsletter
Book of Answers
Compliance GPS Manual
NAFCU Compliance Blog
Additional Compliance Resources
Compliance Resources Search
Compliance Certification Program
Become an NCCO
Purchase or Retake Exams
Maintaining Your NCCO
Submit Non-NAFCU Programs for Credits
NCCO Program Frequently Asked Questions (FAQs)
NCCO Compliance Support Package for State-Chartered CUs
The 2015 edition of NAFCU's Compliance GPS e-manual is now available.
Data & Research
Economic & Credit Union Industry Trends
CU Industry Trends Quarterly Report
Economic and CU Research Enewsletter
Macroeconomic Data Flash Reports
NAFCU Annual Report on Credit Unions
Credit Union Federal Tax Exemption Study
Participate in Credit Union Research Surveys
Measure Your CU Financial Performance
Credit Union Capital Management Tools
CU Data & Research Publications
Economic Data & Forecast Web Links
How are economic changes impacting your credit union?
Education & Conferences
Strategic Growth Conference
Regulatory Compliance School
CEOs and Senior Executives Conference
Board of Directors and Supervisory Committee Conference
Annual Conference and Solutions Expo
Risk Management Seminar
Management and Leadership Institute
Regulatory Compliance Seminar
Advertise & Exhibit
Online Training Center
Live and On-Demand Webcasts
Compliance Webcast & Online Training Subscription
Board of Directors and New Staff Online Training Subscription
Management and Leadership Series
Online Training Center All Access Pass
Certifications & Training Certificates
NAFCU Certified Compliance Officer (NCCO) Program
NAFCU Certified Risk Manager (NCRM) Program
Financial Literacy Training Certificate
BSA Training Certificate
Supervisory Committee Training Certificate
Credits for CPAs
It's raining webcasts in April! From compliance hot topics to board evaluations.
Check out the lineup
About NAFCU Services
Preferred Partners A-Z
Growth and Retention
Financial and Insurance
Infrastructure and Operations
Training and Compliance
Live Webinar Schedule
NAFCU Services Blog
Become a Preferred Partner
Browse free educational resources for credit unions.
Visit the Partner Library
Divided Senate committee reports out GSE bill(1)
Divided Senate committee reports out GSE bill(1)
Sens. Tim Johnson and Mike Crapo
May 16, 2014 – The Senate Banking Committee, voting 13-9, reported out a revised Johnson-Crapo housing finance reform bill on Thursday, but whether the revised bill will reach the Senate floor is unclear.
“We applaud the efforts of Senate Banking Committee Chairman Tim Johnson and Ranking Member Mike Crapo and the members of the Banking Committee in advancing housing finance reform,” said NAFCU President and CEO Dan Berger. “We still have concerns about the bill and its impact on credit unions, including the potential cost of the proposal and whether it would be workable. It is important that any ultimate housing finance reform package work for credit unions and their 97 million members, and we look forward to working with the full Senate to address our concerns should the legislation come to the Senate floor.”
Johnson, D-S.D., and Crapo, R-Idaho, released their initial draft in March and has been working with the administration on the package. Senate Majority Leader Harry Reid, D-Nev., has questioned the plan to wind down Fannie Mae and Freddie Mac, a key component of current proposals, over concerns for its impact on home ownership.
During mark-up the draft bill was updated with a manager’s amendment and an additional amendment which, among other things, would mandate a study by the Federal Mortgage Insurance Corporation, the entity the bill proposes would replace government-sponsored agencies Fannie Mae and Freddie Mac. Specifically, the study would look at the small lender mutual established under the bill and focus on issues such as membership eligibility, participation levels and if it is meeting the needs of community based financial institutions.
The amendments also aim to set additional limits to vertical integration in order to prevent any one institution from exerting undue influence on the housing finance market.
NAFCU has been in contact with Senate Banking members, other members of the House and Senate, the White House, Federal Housing Finance Agency and more to ensure that small institutions have equal, competitive access to the secondary mortgage market in any future
system. It has meanwhile raised concerns about costs and uncertainty surrounding the proposed reforms. It has made several recommendations with other financial trade organizations to improve the discussion draft.
On Tuesday, Federal Housing Finance Agency Director Mel Watt said his agency does not plan to change its policy of allowing debt-to-income ratios above 43 percent for some loans purchased by Fannie Mae and Freddie Mac – a position NAFCU has supported. He added that FHFA will not reduce the current limits on the size of loans that can be purchased by the GSEs.
NAFCU on housing finance reform
Inflation increased 0.3% in April
Team building, communication at BoD conference