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.”
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 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).
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:
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.
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.”
.jpg?width=320&upscale=true&name=167x300_Origence-arc_all-in-one-place_Digital_v1_1018206159%20(1).jpg)
