Lenders are obtaining appraisals in real estate transactions even when they are not required, the Government Accountability Office said in a new report.
Federal cybersecurity supervision has a “regulatory blind spot” since the National Credit Union Administration lacks the power to regulate third-party vendors that offer cybersecurity services, witnesses told a House Financial Services Committee subcommittee on Wednesday.
A hearing on consolidation in the financial services industry will feature the perspective of the American Bankers Association, which has warned about the impact of credit unions purchasing banks.
The Sept. 29 hearing of the House Financial Services Committee’s Consumer Protection and Financial Institutions Subcommittee, will not feature a representative of the credit union industry.
Federal financial regulators must adopt a rule to address inequities in appraisal and valuation services, National Credit Union Administration Chairman Todd Harper said Monday.
On July 13, when federal banking regulators issued proposed guidance governing financial institution monitoring of third-party service providers, one agency was notably absent: the National Credit Union Administration.
Coronavirus-related forbearance programs succeeded in limiting mortgage default, particularly among borrowers with the greatest financial need, the Government Accountability Office said, in a report released Monday.
Amid Republican opposition, the House Financial Services Committee on Wednesday approved legislation that would make pandemic-related changes to the National Credit Union Administration’s Central Liquidity Facility permanent.
The Government Accountability Office once again is pressing the Treasury Department to examine the effectiveness of tax expenditures—a category of tax break that includes the credit union tax exemption.
The ranking Republican on the Senate Banking Committee is asking for an investigation into allegations that the Biden Administration’s Consumer Financial Protection Bureau is pushing out top career-level civil servants in an effort to fill the positions with the people who agree with the agency’s new leadership.
The House Financial Services Committee on Wednesday will mark up legislation to make pandemic-related changes to the National Credit Union Administration’s Central Liquidity Facility permanent.
Credit union trade groups and NCUA Chairman Todd Harper have called on the House and Senate to enact those changes, contending that they are needed, as credit unions recover from the economic crisis caused by the pandemic. The provisions currently are set to expire at the end of the year.