Dec 1, 2020
CFPB Announces Advisory Opinion Programs
The Consumer Financial Protection Bureau (CFPB) issued its final Advisory Opinions Policy to establish procedures whereby parties may submit requests for advisory opinions regarding any…
Advocacy Works
Nov 30, 2020
Agencies Issue Statement on LIBOR Transition
The Federal Reserve Board, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency issued a statement encouraging banks to cease entering into new contracts…
Nov 24, 2020
Final Capital Rule for Fannie Mae and Freddie Mac
The Federal Housing Finance Agency (FHFA) announced a final rule that establishes a new regulatory capital framework for Fannie Mae and Freddie Mac (the Enterprises). The final rule is…
Nov 24, 2020
NCUA’s Board Meeting
The National Credit Union Administration (NCUA) held an open meeting on November 19 using live audio webcast. During the meeting, the NCUA Board approved the…
Nov 24, 2020
PA Gov. Wolf Signs $35.5 Billion State Budget
Gov. Tom Wolf signed the two bills comprising the state budget on November 23, approving the $35.5 billion state spending plan through June 30, 2021. The budget, which…
Nov 23, 2020
McWatters Resigns from NCUA Board
J. Mark McWatters resigned Friday from his position on the board of the National Credit Union Administration. McWatters has served on the NCUA board since…
Nov 23, 2020
NCUA Releases Letter to Federal Credit Unions Regarding Annual Meeting Flexibility
The NCUA recently sent letter 20-FCU-04 to federal credit unions related to annual meeting flexibility during the COVID-19 pandemic. “The NCUA understands COVID-19 continues to affect federal…
Nov 20, 2020
CrossState Submits Comment Letter to Treasury, SBA Advocating for Increased PPP Loan Forgiveness
CrossState Credit Union Association submitted a comment letter to the U.S. Treasury Department (Treasury) and Small Business Administration (SBA). While applauding the Treasury and SBA’s efforts to reduce…
Nov 20, 2020
NCUA Board Approves Proposal to Allow Capitalization of Interest, Hears DEI, SIF Briefings
The National Credit Union Administration Board (Board) held its November meeting and unanimously approved: A proposed rule to amend its regulations by removing the prohibition…
Nov 20, 2020
Interagency Fact Sheet Released to Clarify BSA Due Diligence Requirements
Federal financial institution regulatory agencies issued a joint fact sheet clarifying that bank and credit unions compliance efforts to meet Bank Secrecy Act due diligence requirements for customers that…