Links in “NAFCU”
- New Bill to Strengthen CFPB Small Creditor Exemption
An NAFCU backed bill was introduced with intent to strengthen the small creditor exemption under CFPB regulations by applying it to all credit unions with assets of less than $10 billion. Â [7/16/15]
- NAFCU Calls For Dodd-Frank Relief
The NAFCU reiterated to congress its strong opposition to the idea of placing credit unions under CFPB authority; instead, a spokesperson pressed for expansion of CFPB exemption efforts so all credit unions may be exempt from various CFPB rule-making. [7/15/15]
- More Voices call for longer TILA-RESPA Delay
Both the NAFCU and NASCUS have urged the CFPB to push back the effective date of the new regulations stemming from the integrated mortgage disclosures deadline. Both associations support the notion of moving the deadline all the way back to Jan. 1, 2016. [7/8/15]
- GAO Supports Giving NCUA 3rd Party Tech Provider Review Authority
Based on its review of fifteen IT examinations of financial institutions, the Government Accounting Office (GAO) is recommending that the NCUA be given the authority to examine 3rd party technology service providers. The NAFCU opposes this extended authority as unnecessary and costly for credit unions. [7/6/15]
- Matz Details Regulatory Relief Efforts
NCUA Chair Debbie Matz, speaking at the NAFCU Annual Conference, announced that 2015 will be âThe Year of Regulatory Relief.â In addition to addressing proposed changes to the MBL Rule and proposed changes to field of membership requirements, Matz added that the NCUA plans to issue a supplemental capital rule at the same time that it issues a final risk-based capital rule. [6/26/15]
- NAFCU Expands Membership to State-Chartered Credit Unions
Effective immediately, the NAFCU is opening its doors to federally-insured, state-chartered credit unions. The unanimous decision by the NAFCU Board is an effort to advocate on behalf of more credit unions and to strengthen the associationâs impact on federal issues. [6/24/15]
- ‘NCUA Budget Transparency Act’ Praised in Hearing
Witnesses in a House Financial Services subcommittee hearing had praise for the bipartisan, NAFCU backed bit. The act is sponsored by Reps. Mick Mulvaney, R-S.C., and Krysten Sinema, D-Ariz. [6/12/15]
- NAFCU Issues White Paper on MBL Cap Exemptions
According to a white paper just issued by the NAFCU, the NCUA could have approved more than  100 credit unions for an exemption from the MBL lending cap between 2010 and 2014 if it had applied a more liberal interpretation to the statutory exemption for credit unions with a history of making member business loans. The NAFCU states that the NCUA could have interpreted this section of the law to include credit unions that have had a successful MBL program in place for at least five years. [6/11/15]
- NAFCU Backs TILA/RESPA “Hold-Harmless” Period
The NAFCU and 17 other trade groups joined together in urging the House Financial Services Committee to pass a reasonable hold-harmless period for financial institutions implementing the CFPB's TILA/RESPA integrated mortgage disclosures rule. [6/10/15]
- “Grave Concern” Over Onerous Reporting Measure from Trade Bill
The NAFCU and others have sent a letter to House and Senate leaders detailing concern over a burdensome reporting provision affecting credit unions and other financial institutions included in trade legislation. The "Trade Preferences Extension Act" would change current law to require credit unions, banks, and brokers/dealers to report to the IRS and members information related to all interest-bearing and non-interest bearing accounts. [6/4/15]
