The CFPB Thursday issued a new analysis of the 2019 HMDA Data, the second in a series, covering the most comprehensive source of publicly available information on the mortgage market, and the only publicly-available source that provides nationwide application-level data on the demand and supply of mortgage credit. 

Comments are due in the coming weeks on multiple regulatory proposals that will affect credit unions, including proposals from NCUA, the Consumer Financial Protection Bureau, Federal Housing Finance Agency, Federal Communications Commission, Federal Deposit Insurance Corporation and others.

The Federal Housing Finance Agency (FHFA) today announced it will delay implementation of its GSE refinance fee until Dec. 1, past the original effective date of Sept. 1. This delay comes after heavy engagement from CUNA, Leagues and other system partners, most recently in a letter from CUNA, the American Association of Credit Union Leagues and all 34 League presidents detailing the impact the fee and September 1st effective date was already having on credit union loans.

The announced Fannie Mae/Freddie Mac refinance fee has caused significant disruptions to credit union mortgage lending, CUNA, the American Association of Credit Union Leagues and all 35 state credit union Leagues wrote to Federal Housing Finance Agency leadership Tuesday.

NCUA, along other federal financial regulators, issued a joint statement clarifying that Bank Secrecy Act due diligence requirements for customers who may be considered "politically exposed persons" should be commensurate with the risks posed by the PEP relationship.

CUNA Chief Advocacy Officer Ryan Donovan discusses the latest on the proposed GSE refinance fee, upcoming regulatory comment deadlines (including on NCUA's future examinations RFI) and the Republican National Convention in this week’s Advocacy Update.

A bipartisan group of Senators wrote to FHFA Director Mark Calabria last week to echo CUNA’s position that the GSE refinance fee set to go into effect Sept. 1 be withdrawn. Leagues and have engaged several of the letter’s signers on the issue, and CUNA continues its advocacy.

CUNA Compliance & Risk Council announced the release of its inaugural white paper, “Changing the Risk Conversation,” which focuses on creating and maintaining an enterprise risk management (ERM) culture. and explores the case for a shift to an ERM culture.

NCUA, along with the Federal Reserve System, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency and the Conference of State Bank Supervisors will host an interagency webinar Aug. 27 at 11 a.m. (ET) on the Small Business Administration’s PPP Loan Forgiveness Platform.

The CFPB proposed Advisory Opinion program would provide another mechanism through which it may better enable regulatory compliance, CUNA wrote Friday. The proposed program would allow parties to request interpretive guidance in the form of an AO, to resolve questions regarding regulatory uncertainty.