Topics in this week’s InfoSight newsletter include:

• CFPB Adjusts HMDA Closed-End Loan Exemption Threshold
• CFPB and FHFA Publish Updated Data from the National Survey of Mortgage Originations for Public Use
• Continued Growth in Lending, Assets, Insured Shares Reported in Third Quarter

As a reminder, the League’s monthly Compliance and Fraud Meeting is taking place virtually next Wednesday, December 21, at 9:00 am. Shared Branching fraud will be discussed. To join the December discussion, please register on the League’s website.

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Calendars tend to fill up fast, especially during the beginning of the new year, and there are two events your credit union won’t want to miss: the Ending Hunger Celebration and the League’s Annual Meeting and Convention. The Ending Hunger luncheon takes place February 15, 2023, and registration is now open! The Annual Meeting and Convention is happening May 19 – 20. Details for this event will be shared soon.

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As we have all seen over these past few weeks, fraudsters are working overtime to coordinate illegal activities this holiday season. Our League will continue to keep credit unions apprised of fraudulent activity that is trending in the state.

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December 25 is quickly approaching and the Campaign for Ending Hunger’s Holiday Meals for Mainers initiative is going strong. If you have not done so already, please consider providing an online donation to the Campaign.

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Just in time for the holidays, Brewer FCU made a critical donation to support its friends at the Brewer Area Food Pantry. The credit union used its Ending Hunger funds to donate over $4,700 to the pantry.

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Northeast CU is excited to announce the appointment of Neil Gordon to Senior Vice President, Chief Financial Officer. After a nationwide search, Neil accepted this role in November.

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Each November, Bangor FCU employees come together to raise money in support of Adoptive and Foster Families of Maine’s Christmas gift giving program. Collectively the credit union donated $1,100 and several bags of gifts for this special cause. With the donations the team provided, the credit union has ensured that 31 children will have the joy of opening presents this holiday season.

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NorState FCU and its Board of Directors are pleased to announce the appointment of Jeffrey Davenport as the credit union’s new President & Chief Executive Officer. He takes over the position after the retirement of Susan G. Whitehead, who held the position for over nine years.

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In 2023, Mainers who receive their electricity from one of the state’s two major distributors will see an increase in their monthly electric bills. In advance of these rate hikes, the Financial Literacy Blog offers tips to help people reduce their energy usage.

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Legislators and their families assembled at the State House on Wednesday for the 131st Maine Legislature’s swearing-in ceremony to begin their two-year terms. The League was pleased to be in Augusta to welcome the new and returning lawmakers and looks forward to working with them on behalf of credit unions in the coming year.

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The Bureau of Motor Vehicles (BMV) is hosting a webinar on December 14 at 2:00 pm to discuss electronic titling and solicit feedback from parties who are interested in establishing an e-titling system in Maine. Any credit union who would like to join the meeting can participate by phone or Microsoft Teams.

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Topics in this week’s InfoSight newsletter include:

• Changes to HMDA’s Closed-End Loan Reporting Threshold
• NCUA Re-establishes AMAC as Independent Office
• Nacha’s Payments Innovation Alliance Releases New Guide Explaining and Simplifying Voice Payments Processing Using the ACH Network

InfoSight is FREE to League CU employees as a benefit to membership and provides state and federal compliance and operations resources. Click here to request a login.

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