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Tag Archives: NAFCU

Protecting Mortgage Consumers from Watchful Eyes

The Consumer Financial Protection Bureau was recently asked to examine the data included with its Home Mortgage Disclosure Act reporting. Learn why.

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Roadblocks Ahead for Credit Union Legislation

The National Association of Credit Unions (NACU), with the support of Representative Bill Posey (R-Florida) and Denny Heck (D-Washington) reintroduced a bill that would require the National Credit Union Association to initiate a study on capital requirements for credit unions before finalizing the final risk-based capital rule that is scheduled to go into effect on the first of January 2019.

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Credit Unions Strapped by CFPB Rule

The CFPB’s ability-to-repay/qualified mortgage rule is putting credit unions in a bind. What does it mean for buyers?

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What Happened to Wages?

The latest jobs report from the Department of Labor offers wildly exceeded expectations alongside disappointing compensation. Do solid employment numbers spell good times ahead? Or do sluggish wages mean trouble is looming?

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Banking and Housing Lobby Petitions for CFPB Structural Changes

The banking and housing lobby has recently sent a letter to the leaders of the Senate and House appropriations committees expressing their position that the Consumer Financial Protection Bureau should be restructured from a single director to a bipartisan panel of five people. Will they be able to get it through before Cordray’s appointment is up in 2018.

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NAFCU Expresses Support for H.R. 916 Bill

The National Association of Federally-insured Credit Unions has come out in support of H.R. 916, a recently reintroduced House bill that threatens to end guarantee fees spending.

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Credit Unions Support OCC’s FinTech Proposal, Sort Of

The National Association of Federally-Insured Credit Unions is behind the Office of the Comptroller of the Currency's recently proposed initiative to allow FinTechs to operate as banks, but it also believes these companies should be held to the same standards and regulations as other financial institutions.

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NAFCU Voices Concern Over Issues Presented by CFPB’s Complaint Database

The Consumer Financial Protection Bureau (CFPB) launched its consumer complaint database in July 2012, one year after beginning operations, and it began publishing complaint narratives in June 2015. Some financial companies expressed concern over the Bureau's publishing of complaint narratives ...

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Credit Union Group Opposes Revision to FHLBank Membership Requirements

NAFCU's complaint stems from a provision of the proposed rule that would require FHLB members and applicants to keep 1 percent of assets in home mortgage loans. Current members would also be required to hold at least 10 percent of assets in residential mortgage loans on an ongoing basis as opposed to just at the time of application, as the current rule requires.

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