NCUA and other federal banking agencies have issued a joint statement updating their existing enforcement guidance to enhance transparency regarding how they evaluate enforcement actions that are required by statute when financial institutions fail to meet BSA/AML obligations.
CUNA generally supports the CFPB's interim final rule to temporarily permit mortgage servicers to offer certain loss mitigation options for borrowers experiencing financial hardships due COVID-19 emergency, but submitted several additional suggestions in its comment letter filed Friday.
CUNA continued its strong opposition to a recently announced Fannie Mae and Freddie Mac fee increase for certain purchased refinanced mortgages, calling for the fee to be withdrawn in a letter from CUNA President/CEO Jim Nussle to FHFA Director Mark Calabria.
CUNA joined a broad coalition of organizations representing the housing, financial services industries as well as public interest groups to issue a statement noting the GSEs’ new adverse market fee will raise costs that will be particularly harmful to low- and moderate-income homeowners.
NCUA issued a risk alert intended to describe increased risks associated with routine operations, outline red flags associated with common fraud schemes in major CARES Act programs, and provide references and avenues to report fraud or misconduct to the most appropriate authorities.
The SBA has opened its PPP loan forgiveness application portal and issued a frequently asked questions document on loan forgiveness, while CISA issued an alert that an unknown malicious cyber actor is spoofing the SBA’s loan relief webpage through phishing emails.
All 14 credit union-supported candidates won their primaries Tuesday in Minnesota, Vermont and Wisconsin. Tuesday’s results bring the total number of wins for credit union-backed candidates to 314 (out of 325 elections). Candidates are supported by state Leagues and CUNA’s federal political action committee.
While the COVID-19 pandemic continues to create unique challenges, the DE Program is transitioning to meet credit unions where they are now. This fall the DE Program will be available virtually via two virtual DE Trainings, one from Sept. 14 to Oct. 9 and one from oct. 26 to Nov. 20.
CUNA supports the CFPB's proposed extension of a temporary QM loan definition known as the GSE Patch, it wrote Monday, but believes time should be given for a gradual transition period. The proposal would extend the date of the GSE Patch.
CUNA President/CEO Jim Nussle issued a statement in response to former Vice President Joe Biden’s selection of Sen. Kamala Harris (D-Calif.) as his running mate. CUNA does not endorse presidential candidates, and has a history of working with administrations on both sides of the aisle.