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Newsbytes

The American Bankers Association today urged the National Credit Union Administration to withdraw a proposed rule that would expand the range of permissible lending activity for credit union service organizations, or CUSOs.

Mortgage

Sens. Mark Warner (D-Va.) and Tim Scott (R-S.C.) today urged the Consumer Financial Protection Bureau to reconsider its decision to postpone the effective date for the General Qualified Mortgage final rule from July 1, to Oct. 1, 2022, and extend the temporary “GSE patch.”

Community Banking

American Bankers Association President and CEO Rob Nichols today said that the rapid convergence of banking and technology is important and benefits consumers, but emphasized that “there should be some degree of levelness as it pertains to supervision and consumer protection,” for new market entrants offering bank-like services.

Economy

Weekly job posting data from Burning Glass Technologies show that businesses are looking to rehire, with postings for low-skilled jobs up 46% and postings for high-skilled jobs up 8% since the start of the pandemic.

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