CUNA News
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • COVID-19
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Jobs
  • Contact

News

Home » House ‘true lender’ resolution, CLF bill markup scheduled this week
Policy & Issues

House ‘true lender’ resolution, CLF bill markup scheduled this week

June 21, 2021
Cap1

The House will consider a CUNA-supported repeal of the Office of the Comptroller of the Currency’s “true lender” proposal this week. The House Financial Services Committee will also mark up the CUNA-supported Central Liquidity Facility (CLF) Enhancement Act (H.R. 3958) starting Wednesday. 

The OCC’s proposal would allow a national bank would be considered the true lender of the loan if, as of the date of origination, it is named as the lender in the loan agreement or funds the loan.

The Senate passed its own resolution of disapproval in May.

H.R. 3958 would permanent CLF changes temporarily made by the CARES Act.  Specifically, it would expand the borrowing authority of NCUA’s Central Liquidity Facility to 16 times the paid in capital (up from 12 times). This is currently in place through the end of 2021.

It would also make it easier for credit unions to join the CLF through their corporate credit unions.

The markup is scheduled to begin Wednesday at 10 a.m. (ET), and will be streamed live on the committee’s website.

Other hearings CUNA is engaged with this week include:

  • Wednesday, 2 p.m. (ET): Senate Appropriations Committee Subcommittee on Financial Services and General Government hearing, “Fiscal Year 2022 Budget for the Department of the Treasury.”
  • Thursday, 10 a.m. (ET): Senate Banking, Housing and Urban Affairs Committee hearing, “Examining Bipartisan Bills to Increase Access to Housing.”
  • Thursday, 10 a.m. (ET): House Appropriations Subcommittee on Financial Services and General Government markup of the FY 2022 Financial Services and General Government Appropriations Act.

Credit Union Magazine: Winter 2022

Winter 2022

Credit Union Magazine’s Winter 2022 issue highlights data-driven marketing, the board’s role in cybersecurity, elder abuse scams, credit unions’ auto lending advantage, and more.
Digital Edition •  Subscribe

Trending

  • House passes CUNA, League-led board modernization bill

  • CFPB issues CUNA-opposed proposal on credit card late fees

  • Key committee leaders supportive of credit union priorities

Tweets by CUNA_News

Polls

Vote for the 2023 CU Hero of the Year

View Results
More

Champion for the Credit Union Movement

Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • Membership
  • Contact Us
  • Careers

Resources for

  • Credit Union Advocates
  • Leagues
  • Press
  • Providers

Our Affiliates

  • American Association of Credit Union Leagues (AACUL)
  • Credit Union Awareness
  • Credit Union House
  • CUNA Strategic Services
  • National Credit Union Foundation
GET CUNA UPDATES
© 2023 Credit Union National Association | ADA Compliance Notice & Legal
Email Us