The CFPB should take special note of the challenges faced by credit unions and other smaller mortgage lenders in the absence of certain expansions of the Qualified Mortgage safe harbor, CUNA wrote to the CFPB Monday.
FinCEN announced the launch of its Global Investigations Division, which will investigate and target terrorist finance and money laundering threats and work more closely with foreign counterparts to coordinate actions against such threats.
The National Youth Saving Challenge, held in conjunction with National Credit Union Youth Week and sponsored by CUNA, encourages youth members to set goals and save money. Young members deposited more than $15 million into their savings accounts during this year’s savings challenge.
Consumers CU hosted a luncheon for Illinois state legislators earlier this month at the credit union’s administrative headquarters in Gurnee, Ill. in which each legislator talked about issues in their districts and topics important to them.
Rachel Pross, Chief Risk Officer at Maps Credit Union, Salem, Ore., will testify on CUNA’s behalf before the Senate Banking Committee Tuesday during a hearing titled “Challenges for Cannabis and Banking: Outside Perspectives.”
FASB has issued a second CECL question-and-answer document about the standard, and staff announced that it is planning a series of training sessions discuss the document to help smaller institutions with CECL implementation.
CUNA released Friday the July 2019 edition of the Economic Update, in which Senior Policy Analyst Samira Salem reports on recent U.S. economic growth developments, most notably a forecasted slowdown in economic growth.