NCUA

J. Mark McWatters, chairman of the National Credit Union Administration, is said to be in contention to take over as director of the Consumer Financial Protection Bureau.

Most secondary market outlets, along with the non-qualified mortgage lenders, remain reluctant to lend to legal cannabis workers because of the source and nature of their compensation, but opportunities are beginning to emerge.

Under a joint order, lenders still have to document the value of properties in storm-affected regions, but they will not have to depend on appraisers.

A regulatory plan to create new restrictions on banks’ executive compensation practices appears dead — but changes since the financial crisis may have made the proposal largely obsolete anyway.

National Credit Union Administration Chairman J. Mark McWatters said dropping Consumer Financial Protection Bureau oversight of credit unions would free up CFPB resources.

Credit unions continue to press the Consumer Financial Protection Bureau for regulatory relief, arguing that existing exemptions have not gone far enough.

Financial regulators issued joint guidance on Wednesday highlighting the availability of cross-state appraiser licensing agreements.

In a rare move, the credit union regulator is asking the CFPB for exemptions for credit unions from expanded HMDA requirements and unfair and deceptive acts authority.

Regulator now has recovered nearly $4.8 billion in various suits related to the mortgage meltdown in 2008.

One credit union leader is urging Acting NCUA Chairman McWatters to go to bat for more sensible mortgage rules coming out of the CFPB.