Also: Appeals court upholds dismissal of MLA lawsuit; FOMC minutes give insights into bank failures’ impact on rate outlook
April 13, 2023
SBA finalizes NAFCU-opposed SBLC rule ([link removed] )
The Small Business Administration (SBA) Wednesday issued a NAFCU-opposed final rule to amend SBA loan program regulations to lift the moratorium on licensing new small business lending companies (SBLCs) and add a new type of entity, called a “Community Advantage SBLC.”
Appeals court upholds MLA class action lawsuit dismissal ([link removed] )
The U.S. Fourth Circuit Court of Appeals Wednesday upheld a district court’s dismissal of a class action lawsuit related to the Military Lending Act's (MLA) exception for motor vehicles. The appeals court affirmed that Guaranteed Auto Protection (GAP) insurance is directly related to the purchase of a vehicle loan and does not fall under the MLA.
FOMC minutes reveal banking stresses’ impact on Fed Funds rate ([link removed] )
The Federal Open Market Committee (FOMC) released minutes from its March meeting Wednesday. The FOMC raised rates 25 basis points to a range of 4.75 to 5 percent. However, the minutes showed committee members lowered their federal funds rate projections in response to stresses on the banking system following the failures of Silicon Valley Bank and Signature Bank.
Fight for Your Members on Capitol Hill ([link removed] )
Don’t miss NAFCU’s Congressional Caucus this September 10 – 13, 2023 in Washington DC. Tell lawmakers your story and have an impact in developing key credit union legislation and regulation. Save $200.00 with code CAUCUSAVINGS for a limited time.
LEARN MORE & REGISTER TODAY! ([link removed] )
Latest CPI suggests ‘uneven cooldown in prices’ ([link removed] )
On a seasonally-adjusted basis, overall consumer prices rose 0.1 percent in March, with the overall consumer price index (CPI) rising 5 percent year-over-year. NAFCU Economist Noah Yosif analyzed the data in a new Macro Data Flash report.
New on the Compliance Blog: Suspicious activity reports, commercial lending ([link removed] )
As credit unions work to meet the needs of more than 135 million Americans, NAFCU's award-winning regulatory compliance team continues to keep credit unions informed with new posts on the Compliance Blog every Monday and Wednesday.
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APR
17 - 20
Board of Directors and Supervisory Committee Conference ([link removed] )
Savannah, GA
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25
Expanding Your Credit Union's Reach: Strategies for Driving Personal Loan Growth with AI ([link removed] )
Complimentary Webinar
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27
Confidentiality, Collegiality and Collaborative Decision-Making: An Effective Board of Directors ([link removed] )
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CEOs and Senior Executives Conference ([link removed] )
Charleston, SC
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30
CFPB - Data Brokers ([link removed] )
Comments Due to NAFCU
Mergers are not easy.
If you’re considering this option for your credit union, then you need to know what it takes to merge properly. Written by former NAFCU chair and current CEO of Webster First Federal Credit Union Mike Lussier, the Credit Union Merger & Acquisition Handbook ([link removed] ) provides you with a step-by-step guide on how to successfully complete a merger from start to finish.
Learn how to successfully complete a merger from start to finish. ([link removed] )
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