NAFCU
to FCC: Stop service providers' aggressive call blocking
NAFCU
reiterated concerns about the negative effects of current rules in place to combat
illegal robocalls in a letter to the Federal Communications Commission (FCC) sent
yesterday in response to a notice and request for comment about the effects of its call blocking order.
CFPB
report: Small biz lending increased post-recession, more CUs offering products
A new data point from the CFPB found that small business lending has increased
following the Great Recession; however, lenders in the median county made half
the number of loans per business in 2017 as they had in 2004. The report, released
Tuesday, details the evolution of small business lending before, during, and following the Great Recession.
Thaler
urges lawmakers to allow CUs to serve underserved areas
Ahead of the
House Financial Services Task Force on Financial Technology hearing to discuss
the rise of mobile payments, NAFCU Vice President of Legislative Affairs Brad
Thaler urged the task force "to support efforts to allow all types of credit
unions to add underserved areas to their fields of membership." NAFCU, as
the credit union industry's Washington Watchdog, is a leader in calling for
a level playing field among fintech companies and financial institutions, and
for a safe, secure faster payments system.
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Fed holds rates to start year
The Federal Open Market Committee (FOMC), at the close of its first policy-setting
meeting of 2020, maintained rates at the current range of 1.5 percent to 1.75
percent. NAFCU Chief Economist and Vice President of Research Curt Long said the
association doesn't expect any rate changes "for at least the first half of the year."
Ahead
of House passage, NAFCU shares Comprehensive CREDIT Act concerns
The
House yesterday passed H.R. 3621, the Comprehensive CREDIT Act of 2020; it now
heads to the Senate for consideration. The legislation is a compilation of six
bills reported out of the House Financial Services Committee last year.
