WASHINGTON (3/22/16)--Legislation to raise the threshold for Home Mortgage Disclosure Act reporting requirements for small institutions, including many credit unions, has the full support of CUNA. Jim Nussle, CUNA president/CEO, wrote to Rep. Tom Emmer (R-Minn.) Monday in support of his Home Mortgage Disclosure Adjustment Act.
ALEXANDRIA, Va. (1/14/16)--Credit unions meeting certain criteria have requirements in 2016 to report Home Mortgage Disclosure Act data--requirements detailed Wednesday in a regulatory alert sent by the National Credit Union Administration.
The total number of originated loans of all types and purposes declined by about 2.7 million, or 31%, from 2013 to 2014, according to data released Tuesday on 2014 mortgage lending transactions at 7,062 financial institutions covered by the Home Mortgage Disclosure Act.
CUNA has taken another proactive measure on behalf of credit unions by urging the exemption of credit unions from certain new Home Mortgage Disclosure Act Regulation C data reporting requirements in a letter to Consumer Financial Protection Bureau Director Richard Cordray.
Six federal agencies published guidance last week designed to ensure all depository institutions are aware of expectations when it comes to deposit reconciliation. CUNA’s compliance explains what it means for credit unions in a recent CompBlog post.
CUNA Chief Policy Officer/Chief Economist Bill Hampel said there is no immediate concern for credit unions regarding a U.S. appeals court decision to throw out a $1.27 billion penalty levied by the U.S. Department of Justice against Bank of America in connection with questionable mortgages sold by the former subprime giant Countrywide.