Feb. 5, 2021 NASCUS Report

THIS WEEK: State system backs interest capitalization rule; Three summaries look at NCUA actions … and yet another summary outlines CFPB ‘seasoned QM’ rule; Harper webinar to outline priorities … meanwhile, he designates chief of staff; Agency ‘alert’ details Regs C, Z, V thresholds; Bureau ends pause on HMDA reporting; Mark your calendars for NASCUS March events; BRIEFLY: Harper meets ‘regulator to regulator’ with state supervisors … FinCEN warns on health insurance frauds … FedNow will debut in 2023… Job opening in TX

Capitalization of interest rule needs ‘expeditious’ decision, NASCUS writes

(Feb. 5, 2021) A proposed rule allowing credit unions to capitalize interest should be finalized “expeditiously,” NASCUS said in a comment letter to NCUA this week, noting its support for…

Trio of summaries look at CAMELS, CUSO lending, communications

(Feb. 5, 2021) Three summaries of recent NCUA proposals were posted this week by NASCUS, dealing with the addition of a new component to the examination rating system, lending  by…

‘Seasoned QM’ final rule described

(Feb. 5, 2021) NASCUS’ latest summary of CFPB actions outlines the new rule on season qualified mortgages (QMs) under the Truth-in-Lending Act (Regulation Z); the summary was posted this week….

Harper to outline priorities in Feb. 11 webinar

(Feb. 5, 2021) The new chairman of the NCUA Board will discuss his priorities for the agency and the credit unions it supervises during a 90-minute webinar set for next…

NCUA chairman taps chief of staff

(Feb. 5, 2021) Catherine Galicia – with a long resume of service on Capitol Hill — has been selected as chief of staff by Board Chairman Todd Harper, the credit…

Reg Alert details CFPB thresholds for Regs C, Z, V

(Feb. 5, 2021) A regulatory alert focusing on 2021 threshold adjustments published by CFPB for Regulations C, Z and V was issued this week by NCUA, noting that all three…

Acting bureau director ends pause on HMDA reporting

(Feb. 5, 2021) CFPB will end the agency’s “pause” on quarterly Home Mortgage Disclosure Act (HMDA) reporting for large issuers, CARD Act data collection and more, according to a public…

WI Exec Forum, regulator National Meeting ahead

(Feb. 5, 2021) Two NASCUS events are on the horizon for March, and now’s the time to register to ensure participation in either (or both, in some cases). On March…

BRIEFLY: Harper, state regulators meet; FinCEN warns on health insurance frauds; Fed now slates FedNow payments service for 2023; Job opening in TX

(Feb. 5, 2021) New NCUA Board Chairman Harper met with state regulators this week during a regularly scheduled conference call of state regulators. During the hour-long “regulator to regulator” session,…

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