NAFCU staff this week will be monitoring oral arguments in the PHH Corp. lawsuit against the CFPB and the NCUA Board meeting, which will include a corporate stabilization fund update and three proposed rules.

Oral arguments in the PHH case will take place on Wednesday at the U.S. Court of Appeals for the D.C. Circuit. In February, the court granted the bureau’s petition for a full court rehearing of the case, after the court’s initial ruling in October 2016 found the bureau’s single-director structure unconstitutional.

On Thursday, the NCUA Board will hear an update on the Temporary Corporate Credit Union Stabilization Fund and consider proposals dealing with voluntary federal credit union mergers, agency appeals procedures and the Supervisory Review Committee during its open meeting, scheduled for 10 a.m. Eastern.

NAFCU staff will issue analysis of the three proposals when more details are available. Last week, NAFCU’s Regulatory Compliance team added updated information to its frequently asked questions document on the TCCUSF. The association has urged the NCUA to explore all options to issue TCCUSF rebates as soon as possible.

 

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