From NAFCU Today <[email protected]>
Subject Beige Book reveals slight increase in economic activity
Date July 13, 2023 11:06 AM
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Also: NAFCU calls on Senate appropriators to fully fund CDFI, CDRLF; New Reg Alerts detail NCUA efforts on MDIs, operating fees

July 13, 2023

Beige Book shows slight increase in economic activity ([link removed] )

The Federal Reserve released its Beige Book yesterday, revealing economic activity increased slightly since late May. However, consumer spending was mixed, with growth stemming from consumer services, though some retailers reported shifts away from discretionary spending.

NAFCU reiterates priorities ahead of Senate approps FSGG markup ([link removed] )

The Senate Appropriations Committee today is set to markup its version of the fiscal year 2024 Financial Services and General Government (FSGG) appropriations bill. Ahead of the markup, NAFCU Vice President of Legislative Affairs Brad Thaler called on the committee to provide full funding for the Community Development Financial Institutions (CDFI) Fund and the Community Development Revolving Loan Fund (CDRLF), as well as the Financial Crimes Enforcement Network (FinCEN).

NAFCU sends members two Reg Alerts ([link removed] )

NAFCU Wednesday sent members two Regulatory Alerts discussing recent updates from the NCUA: changes to the agency's Minority Depository Institution (MDI) Preservation Program and a request for comment (RFC) on changes to the operating fee methodology.

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Inflation downtrend continues in June ([link removed] )

On a seasonally-adjusted basis, overall consumer prices rose 0.2 percent in June, with the overall consumer price index (CPI) rising 3.1 percent year-over-year. NAFCU Economist Noah Yosif breaks down the data in a new Macro Data Flash report.

Fed nominees advance to full Senate ([link removed] )

The Senate Banking Committee Wednesday advanced to the full chamber President Joe Biden’s three nominations to the Federal Reserve Board of Governors.

Compliance Blog posts dive into minor members’ voting rights, indirect lending risk considerations ([link removed] )

As credit unions work to meet the needs of more than 137 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.

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