Credit Union National Association witness Jerry Reed this morning detailed credit union concerns with the Consumer Financial Protection Bureau's ability-to-repay and qualified mortgage (QM) rules.  Reed, who is chief lending officer at Alaska USA FCU, said credit unions commend the CFPB for listening to their concerns and for incorporating many of their concerns into amendments to the mortgage rules, but he underscored that credit unions continue to have serious apprehensions about how the QM rule will be implemented and believe that it could have the unintended effect of reducing credit union members' access to credit.  READ MORE

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