The House is out for its annual August recess, while the Senate is expected to consider infrastructure legislation this week. NCUA Chairman Todd Harper will testify before the Senate Banking, Housing, and Urban Affairs Committee Tuesday.
CUNA's Lance Noggle provided an update on pandemic-related coin issues on Marketplace podcast this week, saying that while coin supply may be lacking in some areas, he wouldn’t necessarily call it a shortage.
The Federal Housing Finance Agency announced Friday Fannie Mae and Freddie Mac are extending the moratorium on single-family real estate owned evictions until Sept. 30. The current moratorium was set to expire on July 31.
CUNA's quarterly Political and Grassroots Network featured details on CUNA’s recent action alert on the Fed’s debit routing proposal and credit unions from around the country sharing how they've incorporated advocacy into their culture.
Adoption of a 36% “all-in” interest rate cap would have a “seismic” impact on credit cards and small-dollar loans, CUNA wrote Thursday, also adding that credit unions support efforts to curb harms caused by high-cost payday loans and underregulated lenders.
The House Financial Services Committee marked up the a CUNA-supported bill to require NCUA and other prudential regulators to conduct a study to assess the challenges by prospective de novo financial institutions Wednesday.
CUNA opposes a Treasury proposal calling for financial institutions to report to the IRS gross inflows and outflows of all business and personal accounts, as well as transfers between accounts of the same owner, it wrote to Congressional leaders Wednesday.
Rep. Blaine Luetkemeyer (R-Mo.) introduced a CUNA-supported bill Wednesday to replace the director of the Consumer Financial Protection Bureau (CFPB) with a bipartisan five-member commission. CUNA is a longtime supporter of a multi-member commission to lead the CFPB, especially in light of the U.S. Supreme Court decision that found the director is removable at will by the president.
NCUA issued a Regulatory Alert this week on the CFPB’s June 30 final rule temporarily amending certain mortgage servicing requirements. The final rule only applies to servicers that service mortgages secured by a borrower’s principal residence and does not apply to small servicers.
CUNA joined other organizations Monday to express strong opposition to any expansion of the Durbin Amendment, saying support for any legislation on this topic would undermine the overall health and security of the U.S. payments ecosystem.