SCOTUS to hear oral arguments in CFPB funding case Oct. 3

The oral arguments for the CFSA v. CFPB Supreme Court case have been scheduled for Oct. 3. Earlier this month, NAFCU, CUNA, and the American Association of Credit Union Leagues (AACUL) filed a joint amicus brief in support of CFSA, urging the Court to uphold the U.S. Fifth Circuit Court of Appeals ruling that the CFPB’s funding structure is unconstitutional.

Rate hike anticipated as FOMC begins 2-day meeting

The Federal Open Market Committee (FOMC) begins its two-day monetary policy setting meeting today. After taking a pause from rate hikes in June, the committee is anticipated to increase rates as it continues to fight against inflation. The federal funds rate currently sits at a range of 5 to 5.25 percent.

ICYMI: July-August issue of The NAFCU Journal available online

The July-August issue of The NAFCU Journal is available now and can be viewed anytime on the magazine’s virtual hub. Content featured in this issue include a profile celebrating Dan Berger’s 10-year anniversary as president and CEO of the association, as well as an economic outlook for the second half of 2023.

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