Newsroom
October 06, 2017
This week: NAFCU monitors reg relief bill mark-up; Reg Committee talks payday rule
NAFCU this week will closely follow a House Financial Services Committee mark-up Wednesday that includes several NAFCU-backed bills, including ones related to Home Mortgage Disclosure Act improvements (H.R. 2954) and robocall scams targeting seniors (H.R. 3758).
Other NAFCU-supported bills included in the mark-up would tailor regulations to limit burdens on affected institutions (H.R. 1116) and amend the Truth in Lending Act (TILA) for manufactured housing loans (H.R. 1699).
Another recently introduced bill included in the mark-up would amend TILA and the Real Estate Settlement Procedures Act to modify the requirements for community financial institutions with respect to certain rules relating to mortgage loans, and for other purposes (H.R. 3971).
The mark-up of 23 total bills begins at 10 a.m. Eastern Wednesday. NAFCU's legislative affairs team will review the bills included in the mark-up that could impact credit unions and relay that information to the committee ahead of the mark-up.
On Thursday, the House Financial Services Committee will also hold a hearing on the future of housing finance that focuses on oversight of the Department of Housing and Urban Development; Secretary Ben Carson is scheduled to testify. NAFCU-member credit unions and association senior staff met with Carson last month to discuss credit unions' role in helping low-income consumers and how the industry and HUD can work together to advance their goals.
The Senate is out this week working in their home states. NAFCU encourages credit unions to contact their senators and share their thoughts on the importance of preserving the industry's tax exemption, passing a national data security standard and furthering regulatory relief efforts. More information is available at NAFCU's Grassroots Action Center.
Today, NAFCU's Regulatory Committee will meet to discuss the NCUA's closure of the Temporary Corporate Credit Union Stabilization Fund (TCCUSF) and increase in the National Credit Union Share Insurance Fund's (NCUSIF) normal operating level (NOL). NAFCU, based on feedback from its members, was the only national credit union trade association to object to any increase in the NCUSIF's NOL. NAFCU will continue to push for future refunds for credit unions.
The committee will also discuss the NCUA's regulatory reform agenda and those areas of reform that are the highest priority for credit unions and the agency's Oct. 18 budget briefing. The CFPB's recently finalized payday lending rule will also be discussed by committee members.
NAFCU's Regulatory Compliance School and Regulatory Compliance Seminar are also in full swing this week in San Diego.
Other NAFCU-supported bills included in the mark-up would tailor regulations to limit burdens on affected institutions (H.R. 1116) and amend the Truth in Lending Act (TILA) for manufactured housing loans (H.R. 1699).
Another recently introduced bill included in the mark-up would amend TILA and the Real Estate Settlement Procedures Act to modify the requirements for community financial institutions with respect to certain rules relating to mortgage loans, and for other purposes (H.R. 3971).
The mark-up of 23 total bills begins at 10 a.m. Eastern Wednesday. NAFCU's legislative affairs team will review the bills included in the mark-up that could impact credit unions and relay that information to the committee ahead of the mark-up.
On Thursday, the House Financial Services Committee will also hold a hearing on the future of housing finance that focuses on oversight of the Department of Housing and Urban Development; Secretary Ben Carson is scheduled to testify. NAFCU-member credit unions and association senior staff met with Carson last month to discuss credit unions' role in helping low-income consumers and how the industry and HUD can work together to advance their goals.
The Senate is out this week working in their home states. NAFCU encourages credit unions to contact their senators and share their thoughts on the importance of preserving the industry's tax exemption, passing a national data security standard and furthering regulatory relief efforts. More information is available at NAFCU's Grassroots Action Center.
Today, NAFCU's Regulatory Committee will meet to discuss the NCUA's closure of the Temporary Corporate Credit Union Stabilization Fund (TCCUSF) and increase in the National Credit Union Share Insurance Fund's (NCUSIF) normal operating level (NOL). NAFCU, based on feedback from its members, was the only national credit union trade association to object to any increase in the NCUSIF's NOL. NAFCU will continue to push for future refunds for credit unions.
The committee will also discuss the NCUA's regulatory reform agenda and those areas of reform that are the highest priority for credit unions and the agency's Oct. 18 budget briefing. The CFPB's recently finalized payday lending rule will also be discussed by committee members.
NAFCU's Regulatory Compliance School and Regulatory Compliance Seminar are also in full swing this week in San Diego.
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