Newsroom
Action near on Mortgage Choice Act, more
The House Rules Committee last night cleared three NAFCU-supported bills, including legislation on manufactured housing and the definition of "points and fees" in CFPB's mortgage rules, for action on the House floor that could occur this week.
One of those bills, H.R. 685, the "Mortgage Choice Act," was introduced by Reps. Bill Huizenga, R-Mich., Gregory Meeks, D-N.Y. It would clarify the definition of "points and fees" under the Truth in Lending Act as applied in CFPB's qualified mortgage rule.
The second, H.R. 650, the "Preserving Access to Manufactured Housing Act," introduced by Rep. Stephen Fincher, R-Tenn., would help preserve access to manufactured housing by adjusting the regulatory threshold for "high-cost" home loans. Companion legislation has been introduced in the Senate by Sens. Joe Donnelly, D-Ind., Pat Toomey, R-Pa., Joe Manchin, D-W.Va., and Tom Cotton, R-Ark.
The third bill, H.R. 1195, the "Bureau of Consumer Financial Protection Advisory Boards Act," introduced by Reps. Robert Pittenger, R-N.C., and Denny Heck, D-Wash., would establish a small business advisory board within CFPB and make permanent the bureau's existing credit union and community bank advisory councils.
NAFCU urged leaders of the House to support the bills in letters sent jointly with industry trades Monday.
Regarding H.R. 685, the Office of Management and Budget last night issued a statement that the administration opposes the bill and that the president's advisors would recommend veto if it reached his desk.
Share This
Related Resources
Add to Calendar 2024-06-26 14:00:00 2024-06-26 14:00:00 Gallagher Executive Compensation and Benefits Survey About the Webinar The webinar will share trends in executive pay increases, annual bonuses, and nonqualified benefit plans. Learn how to use the data charts as well as make this data actionable in order to improve your retention strategy. You’ll hear directly from the survey project manager on how to maximize the data points to gain a competitive edge in the market. Key findings on: Total compensation by asset size Nonqualified benefit plans Bonus targets and metrics Prerequisites Demographics Board expenses Watch On-Demand Web NAFCU digital@nafcu.org America/New_York public
Gallagher Executive Compensation and Benefits Survey
preferred partner
Gallagher
Webinar
AI in Action: Redefining Disaster Preparedness and Financial Security
Strategy
preferred partner
Allied Solutions
Blog Post
Add to Calendar 2024-06-21 09:00:00 2024-06-21 09:00:00 2024 Mid-Year Fraud Review Listen On: Key Takeaways: [01:16] Check fraud continues to be rampant across the country. Card fraud is affecting everyone. [04:31] Counterfeit US passport cards are just another new toolbox in the bad actors’ toolbox. [07:21] Blocking the fallback is the only way to defeat counterfeit cards. [11:17] The best way is constant education to your members in as many channels as you can. [13:02] We are still seeing overdraft lawsuits. Make sure the programming you have at your credit union matches what you have displayed for the members. Web NAFCU digital@nafcu.org America/New_York public
2024 Mid-Year Fraud Review
Strategy & Growth, Consumer Lending
preferred partner
Allied Solutions
Podcast
Get daily updates.
Subscribe to NAFCU today.