Posted by Anthony Demangone
Here's a short one today.
Two blog posts? You may have seen two posts, one of which was a "Welcome" post for the blog. That post will be featured on the top of the NAFCU Compliance Blog, so that folks who come to the blog will see an overview of what it offers and how they can sign up to receive regular updates. I'm sorry for any confusion!
MBLs. Sen. Mark Udall (D-Colo.) introduced S. 509 to ease MBL restrictions for credit unions.
Udall introduced S. 509, the Small Business Lending Enhancement Act, late Tuesday with 13 original cosponsors. It would allow a gradual increase in eligible credit unions’ MBL cap from 12.25 percent assets to 27.5 percent, in accordance with strict safety-and-soundness measures. It awaits action of the Senate Banking Committee.
Here's a link to the legislation.
Interchange. A "delay" bill is expected soon regarding debit interchange.
Loan Originator Compensation. The Fed will offer a webinar via its Outlook Live portal on the Fed's recent rule regarding Loan Originator Compensation. It is free, and will be held on St. Patrick's Day.