NCUA Board issues RFI on climate risk, gets legal analysis of interest rate ceiling

The NCUA Board held its April meeting yesterday to discuss the agency’s analysis of federal credit unions’ permissible interest rate ceiling. NAFCU has consistently advocated for a floating interest rate ceiling to help mitigate interest rate risk during a difficult economic environment. The NCUA’s Office of General Counsel noted during the briefing that it’s “reasonable” to determine the Federal Credit Union Act allows for implementing a floating interest rate ceiling.

CUs say reg burden limits small biz lending

NAFCU's latest Economic & CU Monitor – now available for download – shows credit unions’ participation in small business lending is restricted by regulatory burden, as well as the member business loan (MBL) cap. These findings come as the CFPB recently finalized its section 1071 rulemaking related to small business lending data collection.

5 things to know this week

NAFCU's widely read NAFCU Today is credit union leaders' go-to source for the latest on issues impacting the credit union industry. For those short on time, here's a roundup of this week's top need-to-know updates and resources.

Bluegrass, Barns, Bourbon, and BSA School! Louisville, KY August 15 – 17, 2023

Hear from experts on CIP, CDD, CTRs, SARs, and more!

Get the latest tips and information on BSA's anti-money laundering requirements and the regulations credit unions must comply with at NAFCU’s BSA School in the heart of the Kentucky Bluegrass this summer. View the full lineup of agenda topics. Hurry – all NAFCU conferences are selling out at a record pace this year!

Senators introduce NAFCU-backed bill to modernize notary regs

Sens. Mark Warner, D-Va., and Kevin Cramer, R-N.D., introduced the NAFCU-supported, bipartisan Securing and Enabling Commerce Using Remote and Electronic (SECURE) Notarization Act (S. 1212) to allow for remote and electronic notary, among other things. The House passed its companion bill in March.

Existing home sales drop in March after February spike

Existing home sales fell 2.4 percent in March to a seasonally adjusted annual rate of 4.44 million units, a stark contrast to the 14.5 percent rise in February. NAFCU Chief Economist and Vice President of Research Curt Long analyzed the data in the latest Macro Data Flash report.

CU volunteers learn essential information at Board of Directors conference

NAFCU's Board of Directors and Supervisory Committee Conference concluded yesterday, closing out a 4-day event designed to provide credit union board and supervisory committee members with the most up-to-date information to understand current and future trends and challenges.

Kennedy, Sherrodd reelected to NAFCU Board; official ballots to be sent April 26

The Nominating Ballot phase of the 2023 NAFCU Board elections has ended. Incumbent candidates Melanie Kennedy, Southwest Financial Federal Credit Union (Farmers Branch, Texas), and Stephanie Sherrodd, Sandia Laboratory Federal Credit Union (Albuquerque, N.M.), were uncontested, officially winning reelection for the Southern Region and Western Region three-year terms, respectively.