Page 9 - September 26, Bulletin

aRTiCLeS

The booklet describes the principles and practices that examiners must meet to provide insurance on mortgage loans acquired by the
review to assess an entity’s DA&M functions, according to an FDIC enterprises.
financial institution letter. It also helps examiners determine whether The enterprises have periodically reviewed the requirements since
management adequately addresses risks related to DA&M and the they were first issued in 2015. One change this year is that the
delivery of critical financial products and services. It does not impose updated standards differentiate between bonds based on credit
new requirements on examined entities.
quality and liquidity, according to FHFA. They also establish limits
Read more: https://www.fdic.gov/news/financial-institution- for assets backed by residential mortgages or commercial real estate
letters/2024/updated-ffiec-it-examination-handbook-development to mitigate the effects if the assets lose value during periods of
housing stress.
FDIC Releases CRA Exam Read more: https://www.fhfa.gov/news/news-release/fannie-mae-

Schedule for Q4, Q1 and-freddie-mac-update-their-private-mortgage-insurer-eligibility-
requirements-2024
The FDIC issued the lists of institutions scheduled for Community
Reinvestment Act examinations during the fourth quarter of 2024 Credit Union Buys Naming Rights
and the first quarter of 2025.
for NFL Stadium
Read more: https://www.fdic.gov/banker-resource-center/cra-
examination-schedule-125 A Virginia-based credit union has signed a multiyear deal for the
naming rights to the home stadium of the Washington Commanders
CFPB Unveils Test Platform for football team. FedEx Field in Maryland was rebranded as Northwest
Filing Small-Business Lending Stadium following an agreement with Northwest Federal Credit
Union. Terms of the deal were not disclosed, but the newspaper
Data cited an anonymous source stating that the agreement was for eight

years and exceeds the average annual value of the previous deal with
The CFPB has opened its beta platform for filing small-business FedEx, which was roughly $7.5 million a year.
lending data, as required by Section 1071 of the Dodd-Frank Act.
The beta is for testing purposes only and financial institutions should The announcement is the latest in a series of expensive marketing
not upload actual customer data, the bureau said. campaigns by credit unions that raise questions about their nonprofit
mission. Other examples include a 2022 multimillion-dollar
Participants will be provided the opportunity to create a login.gov branding agreement between PenFed Credit Union and Washington
account, upload sample data test files, review validation results and Dulles International Airport, and a 2023 deal in which Mountain
explore the beta platform’s features, the CFPB said. The bureau is America Credit Union paid more than $50 million for the naming
seeking feedback to identify areas for potential enhancement and rights to Arizona State University’s football stadium. In California,
improve the data filing process. Teams can work in an early test the NBA’s Sacramento Kings play in the Golden 1 Center, until
environment at their own pace and convenience, it added.
now, the only other big-league pro sports venue named after a credit
Data submitted on the beta platform will not be considered for union.
compliance with small-business lending data reporting requirements, In a recent ABA DataBank column on the trend, ABA’s Dan Brown
the CFPB said. Test files to be used on the platform can be found in and Robert Flock noted that while assets of banks with more than $1
the bureau’s test file repository.
billion in assets have grown by 80% over the last decade, marketing
Read more: https://sbl-beta.cfpb.gov/ efforts by credit unions over $1 billion in assets have fueled their
127% increase in assets during that same period.
Fannie Mae, Freddie Mac Update “Stadium naming deals, marquee sports event sponsorships,

Private Mortgage Insurer university partnerships and endless ads by credit unions are hard to
Eligibility Requirements ignore,” Brown and Flock wrote. “In fact, on a proportional basis,
credit unions with over $1 billion in assets, which are not-for-profit
The Federal Housing Finance Agency has announced that Fannie entities that do not pay taxes, spend significantly more on marketing
Mae and Freddie Mac are issuing updates to their private mortgage than similarly sized banks.”
insurer eligibility requirements, which are the financial and
operational standards that private mortgage insurance companies

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