CUNA supports the CFPB Regulation X amendments regarding streamlined modifications, but strongly objects to a proposed moratorium on foreclosures until 2022. The CFPB proposals would generally prohibit mortgage servicers from starting foreclosure until after Dec. 31, 2021.
Comply-YES! has become a business advocate for credit unions as the newest associate-level CUNA Associate Business Member. Comply-YES! is a CUSO helping credit unions navigate compliance by providing cost-effective compliance support and services that are YES! oriented, solution driven, and relationship focused.
CUNA supports one of NCUA’s potential approaches to simplifying risk-based capital (RBC) requirements, but also reiterated its long-held belief that the 2015 RBC rule is “functionally unnecessary” in comments filed with the agency Monday.
Adding a new component, and modifying an existing one, in NCUA’s CAMEL rating system would provide greater clarity and transparency, CUNA wrote in response to NCUA's proposal to add an “S” for “sensitivity risk” to the CAMEL system.
CUNA released a new industry report Monday that found 51% of U.S. credit union CEOs – and 33% of board members – are women. The “Women in Credit Union Leadership” issues brief examines the extent to which women are represented in leadership positions at credit unions compared to commercial banks.
Comments on a number of proposals issued by Consumer Financial Protection Bureau and NCUA, including on simplification of risk-based capital requirements and CUNA-League sought Prompt Corrective Action relief, are due this month.
The PPP has run out of funds, the Small Business Administration said Wednesday, just under a month before it was scheduled to expire May 31. According to the SBA, the agency will continue funding currently outstanding approved applications.
CUNA supports creating a beneficial ownership information database, as it would shift the burden of collecting beneficial ownership information from credit unions to FinCEN. Credit unions are highly supportive of the creation of the database and believe it will aid in meeting CDD obligations.
The best way to manage climate change and natural disaster risk is to mitigate it by improving resiliency in the housing stock of the United States, CUNA wrote for the record of a House subcommittee hearing on housing resilience in the face of climate change Tuesday.