Good morning. Both the House and U.S. Senate are in session today. As previously reported, NCUA board Acting Chairman J. Mark McWatters offered testimony before the Senate banking committee last week. Video from the hearing is available on the committee’s website (McWatter’s statement begins around the 38:40 mark). In other news…

The New York Credit Union Association, in conjunction with CUNA, have released the First Quarter 2017 New York Credit Union Profile report – The Point

Association VP of Governmental Affairs Michael Lieberman provides a recap of the state legislative session – The Point

NCUA conserved LOMTO FCU yesterday. The Association has been in touch with NCUA, which reached out to the Association prior to publicly announcing the conservatorship of the queens-based credit union – NCUA

Credit union mergers have slowed to a crawl – CU Times

Sales of existing homes were up 1.1 percent in May over April, and up 2.7 percent year-over-year, according to the National Association of Realtors – CUToday

U.S. mortgage lenders are bracing for rockier times as consumers demand for home loans slows and competition in the mortgage industry intensifies – Reuters

An amendment to the Senate healthcare bill, which was sponsored by Republican Reps. Chris Collins and John Faso, looks to shift $2.3 billion in Medicaid costs from counties to the state only in New York – City & State

Online extortion, tech support scams and phishing attacks that spoof the boss were among the most costly cyber scams reported by consumers and businesses last year, according to the FBI – KrebsOnSecurity

Some say that NCUA’s proposal to change the Overhead Transfer Rate methodology could divide the interests of state and federal credit unions – New York’s State of Mind