November 26, 2018

NAFCU Board meets with bureau's Mulvaney today

Bureau Acting Director Mick Mulvaney

The NAFCU Board today will meet with Bureau of Consumer Financial Protection Acting Director Mick Mulvaney to discuss various regulatory issues affecting the credit union industry and the bureau's 2019 priorities.

NAFCU President and CEO Dan Berger, Executive Vice President of Government Affairs Carrie Hunt and Regulatory Affairs Counsel Kaley Schafer will join today's meeting.

The bureau's rulemaking agenda indicates several rulemakings next year covering payday lending, the Home Mortgage Disclosure Act (HMDA), debt collection and the TILA/RESPA integrated disclosure (TRID) rule. NAFCU also recently met with the bureau to discuss qualified mortgages – a rule Mulvaney has indicated the bureau would review to reduce regulatory burden – and has previously outlined credit union issues the bureau should address.

Tomorrow, the NAFCU Board will meet with Federal Reserve Vice Chairman of Supervision Randal Quarles to present findings in the 2018 NAFCU Report on Credit Unions. Meeting participants will discuss legislative and regulatory issues, economic trends and credit unions' use of the Fed's priced services.

Findings in the 2018 NAFCU Report on Credit Unions will be available tomorrow.