Also: Pew highlights increase in CUs’ payday alternative loans; NAFCU economists talk credit card late fees in new video
April 4, 2023
CFPB issues guidance on UDAAP’s ‘abusive’ definition ([link removed] )
The CFPB Monday issued a policy statement related to how it defines “abusive” under its unfair, deceptive, or abusive acts or practices (UDAAP) authority. NAFCU has called on the bureau to more clearly define this provision through an official rulemaking process.
CUs issue $846 million through PAL program ([link removed] )
A new article from Pew Charitable Trusts examined trends in credit union lending trends and found that credit unions issued $846 million in loans through the NCUA’s Payday Alternative Loan (PAL) program in 2022, exceeding the 2019 figure by 32 percent.
NAFCU economists break down CFPB late fees proposal in new video ([link removed] )
NAFCU’s award-winning research team provided findings from the association’s survey on how the CFPB’s proposed rule to lower the safe harbor of credit card late fees would impact credit unions in a new video. Additionally, the video breaks down the latest economic developments, including the Federal Open Market Committee’s (FOMC) decision to raise the federal funds rate in March.
Get Recognized! Nominations now open for NAFCU’s 2023 Annual Awards ([link removed] )
Get the recognition you, your colleagues and your credit union deserve for excellence and achievement. Entering is free and easy; nominations are open through May 12, 2023. Categories include:
- Credit Union of the Year
- CEO of the Year
- Professional of the Year
- Volunteer of the Year
This is a member-only benefit.
Nominate ([link removed] )
NAFCU to CFPB: Narrow scope of contract registry ([link removed] )
In response to the CFPB’s proposed rule to require supervised nonbanks to report certain terms and conditions in form contracts for consumer financial products and services that pose risks to consumers, NAFCU Senior Counsel for Research and Policy Andrew Morris called on the bureau to narrow its scope to ensure credit unions’ partnerships with third-party vendors are not stifled.
Insight post provides info on Iowa’s state-level data privacy law ([link removed] )
In a new post on NAFCU’s Compliance, Risk, & BSA Network, Regulatory Affairs Counsel Dale Baker details Iowa’s state-level consumer data privacy law, SF 262, which becomes effective Jan. 1, 2025. While the law provides credit unions with an entity-level exemption, Baker explains it is unclear whether SF 262’s definition of “affiliate” will apply equally to all credit union service organizations (CUSOs).
167x300_Origence-arc_all-in-one-place_Digital_v1_1018206159-2 ([link removed] )
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([link removed] ) HTML tutorial ([link removed] )
NAFCU CALENDAR ([link removed] )
APR
4
Overview of SBA’s Business Loan Programs and Hot Topics in Underwriting SBA Loans ([link removed] )
Complimentary Webinar
APR
11
From Cybersecurity to Cyber Risk Management: Put Your Risk Assessments to Work ([link removed] )
Complimentary Webinar
APR
12
CU Research Survey Due ([link removed] )
Topic: Lending
APR
17 - 20
Board of Directors and Supervisory Committee Conference ([link removed] )
Savannah, GA
MAY
17 - 19
CEOs and Senior Executives Conference ([link removed] )
Charleston, SC
Derby City. The Gateway to the South. River City. ([link removed] )
Louisville, KY has it all PLUS BSA School ([link removed] ) August 15 – 17, 2023. You’ll get a solid foundation of core BSA knowledge, and you can earn your NAFCU Certified Bank Secrecy Officer (NCBSO) ([link removed] ) credential when you pass the exams.
View Agenda ([link removed] )
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