This
week: Congress out; NAFCU to meet with NCUA Chairman Hood
With Congress
out of session this week, NAFCU is encouraging credit unions to connect with representatives
and senators while they are in their home districts and states to advocate for
key industry priorities, as well as share how credit unions make America stronger.
NCUA
audit shows NOL at 1.35, no payout expected in 2020
The NCUA Friday
announced that the agency’s four funds received “clean” audit opinions for
2019, noting that the National Credit Union Share Insurance Fund (NCUSIF) equity
ratio, as of Dec. 31, 2019, was 1.35 percent. Because the equity ratio is below
the normal operating level (NOL) of 1.38 percent, credit unions should not expect a SIF distribution in 2020.
Prepare
for the Hill with these NAFCU resources
As the industry's Washington
Watchdog, NAFCU not only works to advocate on behalf of credit unions, but also
provides members with access to invaluable resources and connections necessary
to keep growing. As 2020 advocacy gets underway, NAFCU is urging credit unions
to share their story on Capitol Hill and ensure Congress understands where credit unions stand on key issues.
NAFCU's
Schafer gives insights into marijuana banking landscape
Will credit
unions receive more guidance and clarity related to providing financial services
to marijuana-related businesses (MRBs) this year? NAFCU Regulatory Affairs Counsel
Kaley Schafer, in a new Compliance Blog post, reviews the current landscape and
provides insights into how the presidential election could impact the possibility of federal legislation.
NAFCU
expects 'modest' 2020 consumer sales, but downside risks abound
Total retail sales rose 0.3 percent in January, while prior month sales were revised
lower. NAFCU Chief Economist and Vice President of Research Curt Long provided
additional insights into the data in a new NAFCU Macro Data Flash report.
