NAFCU Journal November December 2021

GROWTH ADVOCACY LEGISLATIVE AND REGULATORY WINS 2021 ACCOMPLISHMENTS We’re here to help you grow stronger. Because to us, it’s personal NAFCU.ORG › Greater loss mitigation flexibility as the NCUA finalized a rule permitting the capitalization of interest on loan modifications for borrowers › Legislation modernizing BSA/AML statutes enacted › The Supreme Court struck down the expansive definition of “autodialer” that would have swept in cell phones and subjected credit unions to costly, frivolous class action lawsuits › FHFA policy reform eliminating the adverse market fee on mortgage refinance loans sold to the GSEs › Troubled debt restructuring flexibility secured via legislative provisions › Governance policy modifications introduced in the Senate and House of Representatives to protect credit unions, members and employees › Introduction of legislation to give credit unions greater ability to serve small business members › Bank chartering for non-bank fintechs opposed via testimony before Congress › Successfully opposed expanded NCUA authorities over the SIF 35% 77% 56% % of Total Assets: FICUs % of Total Assets: FCUs % of Total Assets: FISCUs 60% 50% 40% 30% 20% 10% 0% 2010 2010 2010 2011 2011 2011 2012 2012 2012 2013 2013 2013 2014 2014 2014 2015 2015 2015 2016 2016 2016 2017 2017 2017 2018 2018 2018 2019 2019 2019 2020 2020 2020 2021 2021 2021 78% 74% 70% 66% 62% 0% 10% 20% 30% 40% GROWTH ADVOCACY LEGISLATIVE AND REGULATORY WINS 2021 ACCOMPLISHMENTS We’re here to help you grow stronger. Because to us, it’s personal NAFCU.ORG › Gr ater loss mitigation flexibility as the NCUA finalized a rule permitting the capitalization of interest on loan modifications for borrowers › Legislation modernizing BSA/AML statutes enacted › The Supreme Court struck down the expansiv d finition of “autodialer” that would have swept in cell phones and subjected credit unions to costly, frivolous class action lawsuits › FHFA policy reform eliminating the adverse market fee on mortgage refinance loans sold to the GSEs › Troubled debt restructuring flexibility secured via legislative provisions › Governance policy m difications i troduced in the Senate and House of Representatives to protect credit unions, members and employees › Introduction of legislation to give credit unions greater ability to serve small business members › Bank chartering for non-bank fintechs opposed via testimony before Congress › Successfully opposed expanded NCUA authorities over the SIF 35% 77% 56% % of Total Assets: FICUs % of Total Assets: FCUs % of Total Assets: FISCUs 60% 50% 40% 30% 20% 10% 0% 2010 2010 2010 2011 2011 2011 2012 2012 2012 2013 2013 2013 2014 2014 2014 2015 2015 2015 2016 2016 2016 2017 2017 2017 2018 2018 2018 2019 2019 2019 2020 2020 2020 2021 2021 2021 78% 74% 70% 66% 62% 0% 10% 20% 30% 40%