Also: Reports attribute bank failures to poor management, supervision; Mesack details latest advocacy, industry insights in new video
May 1, 2023
This week: Credit card late fees comments due; NAFCU monitoring FOMC, NFIP hearing ([link removed] )
This week, comments on the NAFCU-opposed CFPB proposal to drastically reduce the credit card late fee safe harbor are due. Credit unions are encouraged to submit feedback directly to the bureau via the association’s Grassroots Action Center.
Fed: Mismanagement, insufficient supervision led to SVB collapse ([link removed] )
Federal Reserve Vice Chair for Supervision Michael Barr released findings from the Fed’s review of Silicon Valley Bank’s (SVB) failure. In response to the insights, Barr said the Fed needs to strengthen its supervision and regulation as he attributed regulatory relief and supervisory changes enacted under the Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155) as a factor in the collapse.
Watch: NAFCU’s Mesack provides need-to-know insights from April ([link removed] )
In April, NAFCU highlighted the credit union difference in its advocacy efforts on Capitol Hill and with regulators as the association pushed back on banker attacks and harmful regulations.
NAFCU’s Annual Conference: Engage 2023 ([link removed] )
$200.00 savings with code ENGAGESAVINGS - Ends FRIDAY!
Don’t miss this excellent opportunity for you to develop your entire leadership team. REGISTER TODAY! You'll explore sessions like these and so much more:
- The Evolution of the Workforce
- Culture, Engagement, and Retention of Top Talent
- Harnessing the Power of Data
- Technology Trends Shaping CUs
- Cybersecurity: Protecting Your Institution
VIEW FULL AGENDA! ([link removed] )
BLS releases Employment Cost Index ([link removed] )
The Bureau of Labor Statistics (BLS) Friday released the Employment Cost Index for the first quarter of 2023. The index revealed that private sector wage growth in the first quarter was 5.1 percent, which is the same as the fourth quarter of 2022. Total compensation growth – which includes benefits and wages – was 4.8 percent, a 0.3 percent drop from last quarter.
Now available: Flip through the May-June issue of The NAFCU Journal ([link removed] )
The May-June issue of The NAFCU Journal is available now and features a breakdown of how changes to the community development financial institution (CDFI) application may affect participation, how credit unions can best support older members, and more. Content from this issue can be viewed anytime on the magazine’s virtual hub.
NCUA issues 3 prohibition notices in April ([link removed] )
The NCUA issued three prohibition notices in April, prohibiting individuals previously associated with credit unions from any future participation in the affairs of a federally-insured depository institution.
NAFCU Today - Origence arc - Grow loans. Open Accounts. Build Relationships. All in one place. ([link removed] )
Elevate your credit union’s story.
Share it with #NAFCUNation
([link removed] ) HTML tutorial ([link removed] )
NAFCU CALENDAR ([link removed] )
MAY
2
Building Sound Hedging Strategies: Fundamentals and Best Practices to Manage Volatility ([link removed] )
Complimentary Webinar
MAY
11
BSA Training for the Board of Directors ([link removed] )
Webinar
MAY 15 -
SEPT 30
Regulatory Compliance School On-Demand ([link removed] )
An On-Demand Event
MAY
17 - 19
CEOs and Senior Executives Conference ([link removed] )
Charleston, SC
MAY
30
CFPB - Data Brokers ([link removed] )
Comments Due to NAFCU
JUNE
6
Avoiding and Resolving Harassment Claims: A Primer for Board Members ([link removed] )
Webinar
JUNE
27 - 30
Engage 2023: NAFCU's Annual Conference ([link removed] )
Long Beach, CA
Oppose the CFPB Credit Card Late Fee Proposal! ([link removed] )
Don’t miss NAFCU’s Congressional Caucus ([link removed] ) . Tell lawmakers your story on key issues like this and have an impact on developing key credit union legislation and regulation.
SEPTEMBER 10 - 13, 2023 | WASHINGTON, D.C.
Save $200.00 with code CAUCUSAVINGS for a limited time.
Learn More ([link removed] ) .
JOIN THE CONVERSATION:
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Website ([link removed] )
NAFCU. 3138 10th St N Arlington, Virginia 22201
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