NCUA issued a Regulatory Alert (21-RA-05) last week that covers the Consumer Financial Protection Bureau's February 17 final rule expanding the exemption from establishing escrow accounts for higher-priced mortgage loans.

NCUA is hosting a webinar on March 24 about potential areas of credit risk resulting from the COVID-19 pandemic and registration is now open. The webinar is scheduled to begin at 2 p.m. Eastern and run approximately for 60 minutes.

The FHFA announced that Fannie Mae and Freddie Mac will extend temporary loan origination flexibilities until April 30, 2021. The temporary flexibilities are designed to ensure continued support for borrowers during the COVID-19 pandemic.

The Internal Revenue Service announced Friday that the third round of Economic Impact Payments will begin reaching Americans over the next week. The first batch of payments will be sent by direct deposit, which some recipients will start receiving as early as the weekend, and with more receiving this coming week.

Credit union success is tied to the development of the communities they serve because credit unions are member-owned and operated, writes CUNA Chief Political Officer Richard Gose in CUInsight, which is why credit unions are a solution to rebuilding communities.

The NCUA Board will vote on interim final rules relating to the Central Liquidity Facility and asset thresholds pertaining to large credit unions at its March 18 board meeting. The meeting will be a live audio stream starting at 10 a.m. (ET).

Congress should avoid implementing certain well-intentioned protections such as suspension of negative credit reporting, a debt collection moratorium, and extended forbearance periods that, could put safety and soundness at risk.

Now is time to show policymakers what the credit union difference means for their communities, and what they can do to help their constituents even more, CUNA President/CEO Jim Nussle wrote this week in CUToday.

Credit unions support and are working towards the goal of expanding banking access, but CUNA has “grave reservations” about proposals to leverage the United States Postal Service (USPS) to provide banking services.

The CFPB Thursday announced it is rescinding its January 24, 2020 policy statement, “Statement of Policy Regarding Prohibition on Abusive Acts or Practices.” Going forward, the CFPB intends to exercise its supervisory and enforcement authority consistent with the full scope of its statutory authority under Dodd-Frank.