America’s Credit Unions Backs FHFA Move To Drop ‘Reputational Harm’ Standard
By CU Today Staff —
WASHINGTON--Removing “reputational harm” from the Federal Housing Finance Agency’s (FHFA) Suspended Counterparty Program (SCP) would preserve its ability to address serious misconduct while ensuring decisions are made with measurable risks in mind, America's Credit Unions asserted.
In comments filed with the FHFA Wednesday, America’s Credit Unions supported the proposed removal.
The SCP allows the FHFA to suspend an individual or entity with a history of fraud or other financial misconduct from doing business with Fannie Mae, Freddie Mac, and the Federal Home Loan Banks.
America’s Credit Unions supports the proposal because it will:
Originally reported by CU Today.