This week: NAFCU rep testifies on housing finance; NCUA takes up NCUSIF, stabilization fund

Thursday is shaping up to be a busy day, with NAFCU witness Charles Purvis, president and CEO of Coastal Federal Credit Union, set to testify before the Senate Banking Committee on housing finance reform, and as the NCUA Board opens consideration of the future of the share insurance and stabilization funds.

Purvis will testify before the panel on NAFCU’s core principles for housing finance reform and on ways such reform could affect credit unions and their members’ access to mortgage credit. NAFCU is working to ensure that any housing finance reform plan includes unfettered access to the secondary mortgage market for credit unions, with fair pricing based on loan quality rather than volume. Thursday’s hearing begins at 10 a.m. Eastern.

This is the same time the NCUA Board begins Thursday’s open meeting. Slated are a request for comments on a proposal to close the Temporary Corporate Credit Union Stabilization Fund and reset the normal operating level of the National Credit Union Share Insurance Fund; a proposed rule on NCUSIF equity distributions; a quarterly NCUSIF report; a proposal on emergency mergers; and a briefing on the agency’s 2017 mid-session budget.


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