NAFCU Vice President of Legislative Affairs Brad Thaler Wednesday wrote to the House Financial Services Committee ahead of the second day of its scheduled markup of several measures to express support for the joint resolution disapproving of the CFPB’s small business lending data collection rule, as well as concerns with the Clarity for Payment Stablecoins Act.
The Federal Open Market Committee (FOMC) wrapped up its July meeting yesterday afternoon, during which the FOMC elected to hike the federal funds rate target within the range of 5.25 to 5.50 percent.
NAFCU Senior Regulatory Affairs Counsel James Akin wrote to the CFPB in response to a notice of proposed rulemaking that would impose ability-to-repay rules for Property Assessed Clean Energy (PACE) financing and apply the civil liability provisions of the Truth in Lending Act (TILA) for violations.
In a new Supervisory Highlights report issued Wednesday, the CFPB detailed its unfair, deceptive, and abusive acts or practices (UDAAP) findings across consumer financial products, including auto lending, medical debt collection, and payday lending.
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.
New home sales fell 2.5 percent in June to 697,000 annualized units, while sales in May were revised down 48,000 units. Compared to last year, June’s sales were 23.8 percent higher. NAFCU Economist Noah Yosif analyzed the data in the Macro Data Flash report.
