In addition to issuing 2 proposals, the NCUA board finalized 3 rules Friday, and heard an update on the agency’s Enterprise Solutions Modernization program. The final rules involve safe harbor, inflation of penalties and FOIA.
The NCUA board unanimously voted Friday to issue a request for comment on revising the OTR methodology, as well as a proposed rule on corporate credit unions. CUNA is currently analyzing the proposed OTR changes.
CUNA praised several regulatory relief suggestions from NCUA in a letter sent to Senate Banking Committee leadership before Acting Chair J. Mark McWatters' testimony, part of a hearing focusing on regulators’ role in economic growth.
CUNA wrote to House and Senate appropriators Friday in strong support of funding NCUA’s Community Development Revolving Loan Fund at $2 million for fiscal year 2018. The administration’s budget submission to Congress eliminates CDRLF funding.
NCUA Chair J. Mark McWatters will testify before the Senate Banking Committee Thursday, as part of the committee’s focus on fostering economic growth. The committee previously hosted two other hearings on this topic, one in which CUNA testified.
NCUA’s revised MBL rule has been in effect for more than 6 months now, and according to the agency, it has received a number of questions about the rule and its implementation, leading it to release some FAQs.
CUNA has issued a comment call on NCUA’s proposed rule revising procedures for voluntary rules among federal credit unions. Comments are due to NCUA by Aug. 7, and can be sent to CUNA through Aug. 7 as well.
NCUA and other federal regulators issue an advisory Wednesday highlighting 2 appraiser options to help insured depository institutions facilitate timely consideration of loan applications. During a review process, issues attributed to limited availability of state-certified and licensed appraisers were raised.
CUNA's compliance staff receives a number of questions about TRID rule, leading to publication of a recent CompBlog post addressing means of delivery and timing requirements for the Loan Estimate and Closing Disclosure forms.