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.”
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.
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.
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.
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.
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.
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 provides you with a step-by-step guide on how to successfully complete a merger from start to finish.
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