A CU PolicyPro Newsletter was distributed on December 23. The newsletter highlights content updates, which includes updates to the following nine policies. Updated Model Policies 2214 – Health Savings Accounts 7350 – Ability to Repay 7351 – Small Creditor Ability to Repay 7370 – HOEPA Rule Requirement 7437 – Main…
The National Credit Union Administration (NCUA) issued a Letter to Credit Unions, 21-CU-02, regarding its supervisory priorities for 2021. This letter is to assist credit unions…
Legislation (S3234) that would exempt Paycheck Protection Program (PPP) loans to New Jersey small businesses from state taxes advanced, passing the state Senate by a unanimous…
Legislation (S2358) that would require the registration of private education lenders and establish protections for private education borrowers cleared the New Jersey Senate by a…
CrossState has made updates to several of its channels in InfoSight, including Loans and Leasing, Coronavirus, and RISK Alerts. Loans and Leasing Channel The Ability to Repay topic has been…
The NCUA and the CFPB will attempt to coordinate their interpretations of regulatory compliance and proposed remedies for violation of rules at credit unions with…
The U.S. Small Business Administration (SBA) announced it is taking steps to improve the First Draw Paycheck Protection Program (PPP) loan review so that small businesses have as much…
The National Credit Union Administration (NCUA) issued a new Regulatory Alert, 21-RA-01, on the Consumer Financial Protection Bureau’s (CFPB) two final rules amending the Ability-to-Repay/Qualified Mortgage…
National Credit Union Administration (NCUA) Chairman Rodney E. Hood released selected accomplishments since he was sworn in as the eleventh Chairman of the NCUA in April 2019….
Federally insured, low-income credit unions seeking Community Development Financial Institution (CDFI) certification can now apply to use the National Credit Union Administration’s (NCUA) streamlined qualification…
