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Two Regulatory Comments Due in October
Friday, October 10, 2014 6:25 AM

The next comments due to regulatory agencies in October will be in response to the following two proposals:

NCUA:  Fixed Assets

  • The proposal would remove the waiver requirement for federal credit unions to exceed the 5% aggregate limit on investment in fixed assets.
  • The proposal would allow credit unions to exceed the 5% limit if it implements a fixed-assets management program.
  • Comments are due to NCUA by Oct. 10.

CFPB:  Home Mortgage Disclosure Act (HMDA) Regulation C

  • The proposal would revise tests for determining which institutions are covered under the HMDA. Covered entities, including credit unions that trigger Regulation C compliance, would be required to report HMDA data if they originate 25 covered loans other than open-end lines of credit and commercial lines of credit, in the previous calendar year.
  • Comments are due to CFPB by Oct. 29.

Please refer to Cornerstone's Regulatory Grid Summary or CUNA's Comment Calls page for more details about these proposals.

Credit unions are urged to write your comment letters as soon as possible before the deadlines. If you need help in crafting your letters, or if you have questions, please contact Suzanne Yashewski, SVP Regulatory Compliance, at syashewski@cornerstoneleague.coop or (512) 853-8516.