Regulatory reform

As debate over the future of the mortgage finance system heats up, policymakers must ensure that small banks and credit unions maintain equitable access to the secondary market.

Credit union executives are hitting the Hill on Wednesday to discuss their concerns with lawmakers as CUNA's Governmental Affairs Conference ends.

While the OCC has led the charge on modernizing the Community Reinvestment Act, Gov. Lael Brainard gave a rundown of new ideas under discussion — from updating assessment boundaries to a comprehensive community development test.

Comptroller of the Currency Joseph Otting and Federal Deposit Insurance Corp. Chairman Jelena McWilliams acknowledged industry concerns with the proposal meant to improve how banks comply with the trading ban.

American Banker and National Mortgage News are offering an exclusive discussion of how policymakers may revamp Fannie Mae and Freddie Mac and what that will mean for mortgage lenders of all sizes.

The 2020 budget would add the Consumer Financial Protection Bureau and FSOC to congressional appropriations, charge lenders for FHA upgrades and require universities to have skin in the game on student loans.

Sen. Sherrod Brown, D-Ohio, said "the best place for me to continue fighting for Ohio and for the dignity of workers ... is to stay in the U.S. Senate."

The National Credit Union Administration will return the money to credit unions after having lowered the agency's normal operating level last year.

The central bank is limiting the use of its qualitative objection in this year’s stress tests, the agency announced Wednesday.

The industry cheered the bureau’s proposed repeal of its ability-to-repay requirement, but another part of the rule — on account debit restrictions — was left intact, and some companies aren’t ready to comply.