HMDA reporting bill would provide needed relief, CUNA says

first_imgCUNA wrote in support of a Senate bill that would provide regulatory relief from Home Mortgage Disclosure Act (HMDA) reporting requirements Wednesday, a bill titled the Home Mortgage Disclosure Adjustment Act (S. 1310). The bill, introduced by Sen. Mike Rounds (R-S.D.) would raise the threshold for reporting requirements to 500 closed-end and 500-open end mortgages.“These [HMDA reporting] requirements impose significant burdens on credit unions beyond what Congress envisioned when enacting the Dodd-Frank Act. Credit unions will undertake significant expense to bring their systems into compliance with a rule that does very little–if anything–to provide credit union members with meaningful additional protection,” wrote CUNA President/CEO Jim Nussle. “This proposal will undoubtedly add to the compliance costs credit unions must pay – a cost that was $7.2 billion in 2014 – and will lead to mortgage credit and other credit union services being that much more expensive and possibly less available.”The Consumer Financial Protection Bureau currently requires credit unions that have originated 25 or more closed-end or 100 open-end mortgage loans the prior year to report HMDA data. The data points required by CFPB are dozens more than are required by Dodd-Frank. 9SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading »last_img read more

FIFA steps in to run Venezuelan Football after death of Acting President

first_imgFIFA has appointed a Normalisation Committee to run the Venezuelan Football Federation (FVF) following the death of Acting President Jesús Berardinelli last month. The worldwide governing body said the Committee, which will manage the body on a day-to-day basis and will organise elections, had been installed to address the “leadership vacuum” at the FVF. Berardinelli had been acting President since January after Laureano González stepped down citing health problems. He was also first vice-president of the FVF and FIFA said his death at the age of 61 – which came shortly after he was arrested on charges of misusing public money – meant the the FVF “is currently facing a situation in which its President and first vice-president are permanently absent”. “This leadership vacuum prevents the FVF from taking key administrative and sporting decisions during these critical times, which could impact negatively on the development of Venezuelan football at all levels,” FIFA said in a statement.Advertisement Restrictions imposed due to the COVID-19 pandemic could also prevent the FVF from holding its elections within the time period set out in its statutes, FIFA added. The Normalisation Committee’s mandate is set to run until June 30 of next year at the latest. read also:US Justice Department cautions FIFA on international ban FIFA stepping in to run the FVF marks the latest crisis for the Venezuelan body, which was embroiled in the corruption scandal at the worldwide organisation. González took over as FVF President after predecessor Rafael Esquivel, a former vice-president of the South American Football Confederation, was arrested during dawn raids at the Baur Au Lac hotel in Zurich ahead of FIFA’s Congress in May 2015. FacebookTwitterWhatsAppEmail分享 Loading… center_img Promoted Content7 Black Hole Facts That Will Change Your View Of The UniverseYou’ve Only Seen Such Colorful Hairdos In A Handful Of AnimeThe Very Last Bitcoin Will Be Mined Around 2140. Read MorePortuguese Street Artist Creates Hyper-Realistic 3D GraffitiThe Best Cars Of All Time13 kids at weddings who just don’t give a hoot7 Universities Where Getting An Education Costs A Hefty Penny5 Of The World’s Most Unique Theme ParksWho’s The Best Car Manufacturer Of All Time?Top 10 Most Romantic Nations In The WorldDid You Know There’s A Black Hole In The Milky Way?7 Reasons You Have Trouble Getting Things Donelast_img read more