Federal financial institution regulatory agencies today jointly issued a final policy statement on commercial real estate loan accommodations and workouts. CUNA supported the proposed policy statement in comments filed last October, noting it is a “thorough and well-supported update to existing guidance.”
CUNA supports NCUA’s commitment to continually reviewing its regulations, CUNA wrote in response to NCUA’s annual review of one-third of its regulations, also providing suggestions on how to streamline, clarify or otherwise improve regulatory requirements in the regulations covered by the review.
The FFIEC Thursday announced the availability of data on 2022 mortgage lending transactions reported under the Home Mortgage Disclosure Act by 4,460 U.S. financial institutions, including banks, savings associations, credit unions, and mortgage companies.
The National Credit Union Administration has extended the deadline for applying for 2023 Community Development Revolving Loan Fund grants to July 7. Credit unions with either the low-income or minority depository institution designation are eligible to apply.
NCUA released its report to Congressional committees on cybersecurity and credit union system resilience, which provides an explanation of the measures taken to strengthen cybersecurity within the federally insured credit union system and NCUA.
The big box interchange bill would create costly new regulations and make consumers' financial data vulnerable, League of Southeastern Credit Unions and Affiliates President Samantha Beeler wrote in The Florida Standard.
The Big Box interchange bill would reduce funding for fraud protection with little or no consumer savings, Veridian Credit Union CEO Renee Christoffer wrote in The Gazette, adding that it's "especially poor timing for legislation that would weaken consumers’ security."
NCUA released the June 2023 update of its Simplified CECL Tool this week. The update includes the latest life-of-loan, or Weighted Average Remaining Maturity, factors and additional minor enhancements.
CUNA would strongly oppose any rulemaking/regulatory activity in the area of climate-related financial risk beyond the request for information issued by NCUA, CUNA wrote to the agency in response to NCUA’s request for information on climate-related financial risk.
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