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Fannie Mae and Freddie Mac Publish Redesigned Uniform Residential Loan Application Form and Dataset

The standardized form is used by borrowers to apply for a mortgage loan. Also, your compliance question answered and legal briefs from the federal landscape.

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Brief History of CUs in OR, WA

This week we will examine the history of the credit union movement in the Pacific Northwest.

NWCUA Backed Bills Advance in Oregon Legislature as Major Deadline Approaches

The Northwest Credit Union Association and member credit unions are at the table in Salem, supporting policy advancements in marijuana banking and data match legislation.

Updated Small Entity Rule to Relieve 733 More Credit Unions

The NCUA announced that they would raise the asset threshold defining “small entities” to $100 million, making hundreds more credit unions eligible for regulatory relief under the Regulatory Flexibility Act.

Compliance Center: Supreme Court Rules Disparate Impact Claims Allowed Under Fair Housing Act

Learn more about the Supreme Court’s decision; your question answered on refunding garnishments; plus this week’s legal briefs.

NCUA Proposes Raising Small Entity Threshold to $100 Million

Credit unions of $100 million and under would face reduced regulatory burden under the proposal. Credit union advocates seek higher threshold.

U.S. Rep. Derek Kilmer Agrees to Co-Sponsor Supplemental Capital Bill

U.S. Rep. Derek Kilmer will add his name to the Capital Access for Small Businesses and Jobs Act, becoming the fifth member of the Northwest congressional delegation to support giving credit unions access to supplemental capital.

Final Regulations Released on Affordable Care Act’s 90-Day Waiting Period

Is your credit union in compliance with the Affordable Care Act’s final requirements for a 90-day waiting period, which were released Feb. 20? Brown & Brown of Washington, which manages The Trust, explains the regulations.

NCUA Releases Additional Regulatory Alerts on Mortgage Servicing Rules

The National Credit Union Administration has released regulatory alerts regarding the new Mortgage Servicing Requirements under the Truth in Lending Act and the Real Estate Settlement Procedure Act.

Rep. Denny Heck to Co-Sponsor Supplemental Capital Bill

U.S. Rep. Denny Heck became the first member of the Washington delegation to add his name to the Capital Access for Small Businesses and Jobs Act this week, saying “supplemental capital lets us avoid the perverse situation of successful credit unions having to turn away deposits.”

Federal Regulators Release Updated QRM Proposal

Six federal agencies have issued a notice revising the rule requiring sponsors of securitization transactions to retain risks in those transactions. Our Compliance Report offers interpretation and resources.

Compliance Question of the Week

What does compliance with the Servicemember’s Civil Relief Act mean to credit unions in terms of how they apply the mandated rate reductions to loans?

Thousands Dial in for CUNA’s “Don’t Tax My Credit Union” Call to Action

Thousands of American credit union advocates rallied around a “Don’t Tax My Credit Union” call to action Wednesday, dialing in or logging onto a webinar hosted by the Credit Union National Association. CUNA called on credit unions to engage millions of members to contact Congress immediately.

Connection’s Prior Nominated for Credit Union Hero of the Year Award

Scott Prior, President/CEO of Connection Credit Union, is one of four credit union leaders in the nation nominated for the Credit Union Hero of the Year award. Online voting is open through May 17th.

New Round of IRS Tax Exemption Automatic Revocation Letters May be Starting

Like zombies in a B-movie that just won’t go away, Northwest credit unions are once again finding letters on their doorsteps informing them that their tax exemption is on the IRS’ list for automatic revocation.

Oregon Senate Committee Holds Hearing on Foreclosure Mediation Bill

The NWCUA is advocating for changes to a bill that would make technical updates to Oregon’s Foreclosure Avoidance Mediation Program. The legislation was heard yesterday by the State Senate’s General Government, Consumer and Small Business Protection Committee.

Compliance Question of the Week

Will debit card transactions be impacted by the new credit card surcharge rule?

Wanted: Passionate Credit Unions for Kids Advocates Under 40

Applications are now being accepted from energetic, dedicated, capable credit union professionals to join the Young Leaders for Kids board, an under-40 national advisory board for Credit Unions for Kids.