Compliance Blog

Written by Brad Thaler, Vice President of Legislative Affairs

Steve came to me and asked me to fill in while he is out for the big weekend, and I assumed he was talking about ESPN’s College GameDay coming to my old Michigan State stomping grounds of East Lansing on Saturday, but I understand there may be a wedding or something else getting in the way of his GameDay viewing.

Anyway, I am sure many of here have had to put up with Steve’s talk about Michigan football, so I thought I would balance things out and provide the Michigan State perspective, especially after last Saturday’s game where my beloved Spartans handled the school we (not so) affectionately call “Ann Arbor Community College” for the fourth straight year.  In case any of you missed it, you can watch some highlights here.

We all wish Steve and Erin well on their big day, but there is one song that I doubt Steve will let be played at the reception, so you will just have to watch it here.

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On the legislative front, John Fenton of Affinity FCU in New Jersey testified on behalf of NAFCU before the Senate Banking Committee Thursday on the issue of Housing Finance Reform and the future of the 30-year fixed rate mortgage.  Housing Finance Reform is not expected to be enacted before 2013, but there is a lot of debate going on now in both the House and Senate.  I know many of you are following NCUA and what they are doing on interest rate risk, and the hearing and witness testimonies examine the issue of the interest rate risks associated with long term fixed rate mortgages and what the government role should be in the marketplace.  You can access the testimony or watch an archived webcast of the hearing here.