Also: FOMC hikes rates for 10th consecutive time, signals pause; Reg Alert details climate risk RFI

May 4, 2023

NAFCU hits back at CFPB’s ‘onerous’ credit card late fees proposal ([link removed] )

NAFCU Vice President of Regulatory Affairs Ann Petros called on the CFPB to rescind its proposed rule to reduce the credit card late fees safe harbor, outlining more than 20 pages of concerns about the rule’s “onerous” impact on credit unions and their 135 million members. NAFCU has led the charge against the bureau’s proposal and mischaracterization of “junk fees” in financial services from the start, with NAFCU President and CEO Dan Berger calling for an end to the CFPB’s “war on Main Street.”

FOMC issues modest rate hike ([link removed] )

The Federal Open Market Committee (FOMC) wrapped up its May meeting yesterday afternoon, during which the FOMC elected to raise the federal funds rate 25 basis points to a range of 5 to 5.25 percent – marking 10 consecutive meetings with a rate increase.

NAFCU breaks down NCUA’s climate risk RFI ([link removed] )

NAFCU sent members a Regulatory Alert Wednesday highlighting the NCUA’s request for information (RFI) on current and future climate and natural disaster risks to federally insured credit unions (FICUs).

NAFCU’s Annual Conference: Engage 2023 ([link removed] )

$200.00 savings with code ENGAGESAVINGS - Ends TOMORROW!

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] )

New on the Compliance Blog: CFPB HMDA error notice, board eligibility ([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.

Vehicle sales ‘surge’ in April; affordability still a concern ([link removed] )

Total vehicle sales increased 1.2 million annualized units in April – from 15.3 million in March to 16.5 million – and were up 15.4 percent from the previous year. NAFCU Economist Noah Yosif said “[t]he surge in sales indicates pent-up demand within the industry despite rising interest rates and deteriorating economic conditions.”

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NAFCU CALENDAR ([link removed] )

MAY 1 -

SEPT 30

Regulatory Compliance School On-Demand ([link removed] )

An On-Demand Event

MAY

11
BSA Training for the Board of Directors ([link removed] )

Webinar

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

NAFCU’s Regulatory Compliance School On-Demand ([link removed] ) kicks off with topics like:

- FCU Act, the Legislative Process, NCUA and CFPB
- FCU Governance
- FCU Powers & Limitations / FOM
- NCUA Supervision & Examinations

- NCUA Lending Regulations
- Share Insurance

Plus, earn your NAFCU Certified Compliance Officer (NCCO) when you pass the optional exams! Hurry – sessions open soon!

View the agenda to see the full lineup ([link removed] ) .

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NAFCU. 3138 10th St N Arlington, Virginia 22201

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