David Baumann of the Washington CU Daily reports on credit union trade groups who are renewing their call for Congress to lift the credit union Member Business Lending cap, saying the limit is an arbitrary restriction that keeps financial institutions from providing crucial assistance during the coronavirus economic crisis.
Washington Credit Union Daily’s David Baumann reports on Federal Housing Finance Agency Director Mark Calabria who again defended the agency’s plan to charge a new 0.5% fee on refinancing of Freddie Mac and Fannie Mae mortgages, telling Credit Union National Association President/CEO Jim Nussle that, “This fee is necessary to keep people in their homes during the pandemic.”
The National Community Reinvestment Coalition said that if underserved areas of the U.S. are going to be revitalized, non-banks, including credit unions, should be subject to the Community Reinvestment Act, reports David Baumann of the Washington CU Daily.
In a ruling that sounds strange but that credit unions say is extremely important, a U.S. appeals court affirmed this week that federal credit unions may use the federal court system, reports David Baumann of the Washington CU Daily.
David Baumann reports on Kyle Hauptman’s statements and answers to the Senate Banking Committee, including opinions on credit unions’ status as MDIs, overdraft policies, and virtual examinations.
In a follow-up to his previous article on eNotarization, John Beauchamp reveals what changes coronavirus has brought to the electronic document game, and if we can expect these changes to last beyond the pandemic.
What happens when a board chair takes for granted the votes he receives in his favor? Vic Pantea deliverers notes on the May NCUA Board Meeting and wonders what went wrong for Chairman Hood as the board voted on an interim final rule concerning credit union overdraft policies.
On Wednesday, May 13, over 400 credit union representatives met virtually with Michigan Governor Gretchen Whitmer and Department of Insurance and Financial Services (DIFS) Director Anita Fox to discuss the state of the industry.