NCUA Issues Letter on ECOA Non-discrimination

ECOA Nondiscrimination Requirements - NCUA issued a Letter to Credit Unions (22-CU-04) summarizing the Equal Credit Opportunity Act’s (ECOA) nondiscrimination requirements and outlining fair lending risk factors related to marital status, age, income consideration, redlining, and indirect lending. The letter lists several fair lending risk areas that credit unions should be aware of, including marital status, age, income consideration, redlining, and indirect lending.  

NCUA Hosts Call Report Changes Webinar

Call Report Changes Webinar - To meet overwhelming demand for the “Call Report Changes” webinar held on Feb. 10, the NCUA will host a second presentation on March 8, beginning at 2 p.m. Eastern. Staff from the NCUA’s Office of Examination and Insurance will cover Call Report changes for natural person credit unions effective with the March 2022 reporting cycle, including new schedules for risk-based capital and the Complex Credit Union Leverage Ratio (CCULR), which became effective on Jan. 1.

CAMELS Webinar – On March 10, the NCUA will cover updates to the supervisory rating system that is transitioning from CAMEL to CAMELS, effective April 1. The webinar will focus on the addition of “S” – Sensitivity to Market Risk, and redefining “L” – Liquidity Risk.  

From the CFPB

AVM Options - The CFPB outlined options to ensure that computer models used to help determine home valuations are accurate and fair. The options will now be reviewed to determine their potential impact on small businesses. The CFPB, along with its federal partners, intends to ensure a high level of confidence in the estimates produced by automated valuation models; protect against the manipulation of data; seek to avoid conflicts of interest; require random sample testing and reviews; and account for any other such factor that the agencies determine to be appropriate. 

Prepaid Interest & QMs – The CFPB issued a Factsheet on the interest rate used for calculating the prepaid interest under the price-based general qualified mortgage (QM) annual percentage rate (APR) calculation rule for certain adjustable-rate mortgages (ARMs) and step-rate loans. The factsheet describes the interest rate that is used for calculating prepaid interest for purposes of this special APR calculation rule.