CUNA Letter to FHFA in response to regulatory review
FOR IMMEDIATE RELEASE
CONTACT: Lauren Williams – CUNA Communications; (202) 626-7642; email@example.com
Washington, D.C. (June 4, 2018) – Today Credit Union National Association (CUNA) filed a comment letter with the Federal Housing Finance Agency (FHFA) in response to its 2018 Regulatory Review Plan. As part of its review, which occurs every five years, the FHFA is seeking comments on how its regulations may be made more effective and less burdensome.
“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 further reiterates issues raised recently in response to the FHFA’s RFI on the operational and competition considerations of changing the current credit score requirements for Fannie Mae and Freddie Mac. Comments from the organization push for a system that provides maximum flexibility and minimal prescriptive requirements for credit unions.
The letter also reiterates concerns it shared in response to a recent FHFA request for information on potential changes to credit score requirements.
Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 110 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org.