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Home | Tag Archives: NAFCU

Tag Archives: NAFCU

Roadblocks Ahead for Credit Union Legislation

The National Association of Credit Unions (NACU), with the support of Representative Bill Posey (R-Florida) and Denny Heck (D-Washington) reintroduced a bill that would require the National Credit Union Association to initiate a study on capital requirements for credit unions before finalizing the final risk-based capital rule that is scheduled to go into effect on the first of January 2019.

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What Happened to Wages?

The latest jobs report from the Department of Labor offers wildly exceeded expectations alongside disappointing compensation. Do solid employment numbers spell good times ahead? Or do sluggish wages mean trouble is looming?

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Banking and Housing Lobby Petitions for CFPB Structural Changes

The banking and housing lobby has recently sent a letter to the leaders of the Senate and House appropriations committees expressing their position that the Consumer Financial Protection Bureau should be restructured from a single director to a bipartisan panel of five people. Will they be able to get it through before Cordray’s appointment is up in 2018.

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Credit Unions Support OCC’s FinTech Proposal, Sort Of

The National Association of Federally-Insured Credit Unions is behind the Office of the Comptroller of the Currency's recently proposed initiative to allow FinTechs to operate as banks, but it also believes these companies should be held to the same standards and regulations as other financial institutions.

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Credit Union Group Opposes Revision to FHLBank Membership Requirements

Money

NAFCU's complaint stems from a provision of the proposed rule that would require FHLB members and applicants to keep 1 percent of assets in home mortgage loans. Current members would also be required to hold at least 10 percent of assets in residential mortgage loans on an ongoing basis as opposed to just at the time of application, as the current rule requires.

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Industry, Congress Urge DeMarco Not to Lower Loan Limits

Federal Housing Finance Agency Acting Director Edward DeMarco is deliberating lowering the loan limits for Fannie Mae and Freddie Mac. Congress and the industry, however, are voicing a singular opposition, claiming such action would be detrimental to the housing recovery that is starting to take place across the country. Federal lawmakers and several industry groups sent letters to DeMarco over the past week, some even questioning the legality of such a move.

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