Daniel Weickenand, CEO of the $531 million Orion FCU in Memphis, Tenn., said low margins and risk forced him to discontinue non-QM loans.
NAFCU brings up MBL again.
West Virginia Republican says "communications with the agency have been very good."
Less than four months into her tenure as chairman of the House subcommittee with primary jurisdiction over credit unions and other financial institutions, Rep. Shelley Moore Capito (R-W.Va.) has already tackled a wide range of issues.
CUNA will endorse putting a credit union member on a five-member board that some lawmakers are proposing to run the Bureau of Consumer Financial Protection, and will support allowing a council of regulators to overturn bureau decisions by a majority vote.
NAFCU will endorse GOP-backed legislation to have the new Consumer Financial Protection Bureau governed by a five-member board and allow its decisions to be overturned by majority vote of a council of regulators.
Washington Gas Light FCU President/CEO Lynnette Smith and State Employees Credit Union of Maryland President/CEO Rodney Staatz will discuss the impact of the new consumer bureau on credit unions at a House subcommittee hearing on Wednesday.
Comment letters, congressional testimony and in-person visits with lawmakers in Washington are key components of a concerted strategy to kill, delay implementation of or at the least modify the Federal Reserve’s proposed rule on debit interchange fees.