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Jan 29, 2021

CU PolicyPro Newsletter & Content Updates

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…

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Jan 29, 2021

NCUA’s Supervisory Priorities for 2021

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…

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Jan 29, 2021

PPP Tax Exemption Passes NJ Senate

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…

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Jan 29, 2021

NJ Senate Approves Onerous Student Lender Restrictions

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…

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Jan 28, 2021

CrossState InfoSight Adds Channel Updates

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…

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Jan 28, 2021

NCUA, CFPB Full Memorandum of Understanding Released

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…

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Jan 27, 2021

SBA Taking Steps to Smooth Out First Draw PPP Loan Review

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…

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Jan 26, 2021

NCUA Issues New Regulatory Alert on CFPB’s Amendments to ATR/QM Rule

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…

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Jan 26, 2021

NCUA Accomplishments

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….

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Jan 26, 2021

NCUA’s Streamlined CDFI Application Round Now Open

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…

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