WASHINGTON—Both the NCUA and CFPB released their Spring 2019 rulemaking agendas this week.
A number of issues on the agendas are already underway, including payday lending and alternative loans, real estate appraisals, federal credit union bylaws, debt collection, Home Mortgage Disclosure Act (HMDA) and more.
Other federal departments and agencies also released their spring rulemaking agendas, including the Federal Housing Finance Agency.
The agenda items include:
NCUA
Rate ceiling for federal credit union loans: The agenda indicates an advance notice of proposed rulemaking to gather feedback on the issue is slated for this summer. The NCUA in August voted to maintain the interest rate ceiling at a fixed 18%.
Payday alternative loans (PALs): NCUA's agenda indicates that the agency expects to finalize its 2018 proposal to create additional PALs programs in June. NAFCU, commenting on the proposal, recommended more flexible parameters.
Federal credit union bylaws: Both CUNA and NAFCU have submitted comments to the agency on bylaws changes and have proposed several additional amendments to the NCUA's proposal issued in November. The agenda indicates the agency will release a final rule in July.
Real estate appraisals: The agency is set to finalize this rule this summer, and is expected to issue a proposed rule for residential real estate proposals in June.
Subordinated debt/regulatory capital: The agency issued an advance notice of proposed rulemaking in 2017, which sought feedback on both supplemental and alternative capital. A formal proposal is expected this summer.
Credit Union Service Organizations (CUSOs): A proposed rule to expand the permissible lending activities for CUSOs is expected soon, NAFCU noted.
CFPB
Debt collection: The Bureau earlier this month issued a proposed rulemaking related to third-party debt collection. NAFCU said it has urged the Bureau to exempt credit unions from any rules related to first- and third-party debt collection, as credit unions are not the bad actors in this space.
Payday lending: The Bureau has proposed delaying the implementation date of the rule until 2020 and removing mandatory underwriting requirements, including ability-to-repay provisions.
Regulation CC: With the Federal Reserve, the Bureau last year issued a proposed rule that would introduce a new calculation methodology for adjusting dollar amounts under the Electronic Funds Availability Act to account for inflation and make technical amendments to the regulation.
Home Mortgage Disclosure Act (HMDA): The Bureau recently issued a notice of proposed rulemaking on the thresholds and an advance notice of proposed rulemaking (ANPR) on the costs and benefits of reporting certain data points.
Ability-to-repay (ATR)/qualified mortgage (QM) rule: In a release announcing its agenda, the Bureau noted its assessment of the ATR/QM and said it's focusing now on the government-sponsored enterprise (GSE) patch provision.