Newsroom

Both the NCUA and CFPB released fall rulemaking agendas last week, however, plans at the agency and bureau are uncertain as President-elect Donald Trump prepares to take office in January with a new Republican-led Congress.

Trump will have the chance to name a new member to the NCUA Board and name a new chairman. Also, current Board Chairman Rick Metsger's term is up this summer.

Trump and congressional Republicans are also discussing changes to the Dodd-Frank Act and the CFPB. Last month, the U.S. Court of Appeals for the D.C. Circuit said that CFPB's structure is unconstitutional because it is headed by a single director rather than a multi-member board. NAFCU asked for an immediate moratorium at the bureau on any rulemakings not already implemented.

Similarly, House Majority Leader Kevin McCarthy and Republican committee chairmen wrote all federal agencies last week asking that no new regulations move forward in the last few remaining months of President Barack Obama's presidency.

With so much uncertainty, the regulators' rulemaking agendas are subject to change.

NCUA, in its rulemaking agenda, noted that it may finalize its fixed assets proposal soon and its asset securitization proposal early next year.

CFPB said its final rule on arbitration may be issued in early 2017 along with its Truth in Lending Act/Real Estate Settlement Procedures Act integrated mortgage disclosures rule, or TRID "fix."