Congress is in session this week and the House is expected to take up legislation to address the debt ceiling. House Speaker Kevin McCarthy, R-Calif., last week released the bill, which calls for a $130 billion cut in upcoming fiscal year spending in exchange for raising the limit. NAFCU will monitor discussions and advocate for credit union priorities to be fully funded.
NAFCU’s award-winning advocacy team was on Capitol Hill Friday briefing legislative staff members on the credit union difference, including basics on structure, share insurance, regulatory oversight, industry priorities, and how credit unions are committed to serving their 135 million members.
The Federal Reserve Friday issued initial insights from the 2022 Federal Reserve Payments Study – a triennial review of payments data from 2018-2021. Of note, the value of core noncash payments increased 9.5 percent per year over the period – the fastest rate than in any previous study measurement period since 2000.
Sign up for Regulatory Compliance School On-Demand and earn your NCCO when you pass the optional exams. Sessions, led by CU industry experts, go in-depth on the regulations and obligations that CUs must comply with. School begins in mid-May and will be available until December 1, 2023. View the full lineup of agenda topics.
The Financial Stability Oversight Council (FSOC) – which includes leaders from financial agencies, including NCUA Chairman Todd Harper – met Friday and unanimously approved issuing for public comment a proposed analytical framework for financial stability risks, as well as proposed interpretive guidance on supervision and enhanced prudential standards for certain nonbank financial companies.
Join your peers in Louisville, KY August 15 – 17, 2023 to hear the newest tips and information on BSA's anti-money laundering requirements at NAFCU’s BSA School Save $200.00 with the code BSASAVINGS when you sign up.
