NAFCU rep tells lawmakers consequences of 1071 rulemaking

NAFCU representative Mike Wilson, chief experience officer of Members 1st Federal Credit Union (Enola, Pa.), told lawmakers Tuesday how the CFPB’s section 1071 rulemaking could negatively impact credit union small business lending. Wilson was the only credit union witness on the panel before the House Small Business Subcommittee on Economic Growth, Tax, and Capital Access.

SBC examines oversight of failed banks

Yesterday, the Senate Banking Committee held a hearing to discuss with regulators the Silicon Valley Bank (SVB) and Signature Bank collapses, which occurred earlier this month. Federal Deposit Insurance Corporation (FDIC) Chair Martin Gruenberg, Federal Reserve Vice Chair of Supervision Michael Barr, and Treasury Department Undersecretary for Domestic Finance Nellie Liang testified before lawmakers.

Register now: Free NCUA webinar on share insurance

The NCUA will host a free webinar to help credit unions better understand share insurance and discuss how member accounts are covered. Registration is now open for the event, which will take place April 13 at 2 p.m. Eastern.

NAFCU’s Annual Conference: Engage 2023

Special Offer

You’ll explore the future of financial services, the changing consumer behavior in today’s unique market, the evolution of the workforce, technology trends shaping CUs and more. Save $400.00 per person when you register at least 4 “new” attendees with code GROUP400 by 3/31/23. (That’s at least $1,600.00 in savings!)

NAFCU’s Digital Assets Working Group discusses latest news, regulatory developments

NAFCU’s Digital Assets Working Group met Tuesday to discuss the latest news and regulatory developments in the digital assets space. The group highlighted the recent bank failures, including Signature Bank, which had strong ties to cryptocurrency.