Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
NEW: Johnson, Crapo announce agreement on housing finance reform
WASHINGTON (3/12/14, updated 10:44 a.m. ET)--Housing finance reform just got a huge shot in the arm after being mired in inaction for so long. Senate Banking Committee Chairman Tim Johnson (D-S.D.) and the committee's top Republican member, Sen. Mike Crapo (Idaho), announced this morning that they have agreed upon a bipartisan plan on how to overhaul the housing finance market, as well as on what to do with government-owned Fannie Mae and Freddie Mac.

A draft bill could be unveiled in the next few days, with a committee vote to follow in the next weeks.
 
"This bipartisan effort will provide the market the certainty it needs, while preserving fair and affordable housing throughout the country," Johnson said in a statement. "I look forward to moving this effort through committee once members have had a chance to review our forthcoming legislation." 

The Credit Union National Association has and will continue to advocate for credit unions as housing reform moves forward.

CUNA has repeatedly said that credit unions appreciate the need to reform the current housing finance system, but any reforms must not hinder the ability of credit unions to meet their members' housing finance needs in a member-friendly cooperative way.

CUNA has also said that the transition from the current system to any new housing finance system must be reasonable and orderly, and a transition deadline needs to be flexible.


RSS





print
News Now LiveWire
Construction spending drops in January, according to @CommerceGov http://t.co/W9J1mDyF8X #Market #NewsNow
11 hours ago
During Nat'l Consumer Protection Week, @TheNCUA reminds #CU members of agency resources re: rights as consumers. http://t.co/aYgW1HoDmF
12 hours ago
.@TransUnion: #millennials climbing into driver's seat with loans http://t.co/S4H9OIB3Av
13 hours ago
Breaking at #NewsNow: @CUNA backed bill introduced by @RepEdRoyce @GregoryMeeks would raise MBL cap. #CUSmallBiz http://t.co/ZDAb2UMoQz
15 hours ago
Loan growth at federally insured #creditunions in 2014 climbed to highest level since 2005, @TheNCUA reported today. Watch News Now Tues.
15 hours ago