The Federal Housing Finance Agency (FHFA) should review all of its existing regulations for potential improvements, CUNA wrote to the agency Monday.
CUNA’s letter was sent in response to the FHFA’s regulatory review plan, which it voluntarily conducts every five years, and notes CUNA’s appreciation for the FHFA voluntarily engaging in the process.
“We appreciate the FHFA’s initiative in voluntarily conducting regulatory reviews on a regular basis. While the FHFA is not compelled to conduct such reviews by statute, and thus specific requirements such as those under the Administrative Procedures Act requiring agency consideration of comments received do not apply, we urge it to thoroughly analyze all public input received during this important process,” CUNA’s letter reads. “In general, the FHFA should review all of its existing regulations with an eye toward how it can improve their effectiveness and reduce their burden.”
CUNA’s letter also reiterates concerns it shared in response to a recent FHFA request for information on potential changes to credit score requirements.
CUNA continued to encourage the FHFA to “work to find the right balance between safety and soundness on the one hand, and credit availability for American consumers on the other.”