Also: NCUA sells majority of taxi medallion portfolio; Appeals court agrees with limited autodialer definition



NAFCU TODAY | The News You Need Daily.

February 20, 2020



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NAFCU, CUNA file amicus supporting Navy Federal [ [link removed] ]
NAFCU and CUNA Wednesday filed an amicus brief in support of Navy Federal Credit Union against a class action lawsuit challenging the charging of fees for insufficient funds. Other credit unions have seen similar suits across the country.


NCUA sells majority of taxi medallion portfolio [ [link removed] ]
The NCUA announced Wednesday that it sold the majority of its taxi medallion loan portfolio to investment firm Marblegate Asset Management LLC. NAFCU had shared with the NCUA an analysis from the association's Share Insurance, Liquidity and Development Fund Oversight Committee (SIF Committee) on the agency's stewardship of the taxi medallion loans.


Appeals court limits ATDS under TCPA [ [link removed] ]
As the Supreme Court prepares to review the constitutionality of a provision of the Telephone Consumer Protection Act (TCPA) later this year, a new court ruling in Gadelhak v. AT&T Services, Inc. has held that a system that does not store or produce numbers, using a random or sequential number generator, cannot be classified as an automatic telephone dialing system (ATDS, or "autodialer") under the TCPA. In this new decision from the U.S. Court of Appeals for the Seventh Circuit, the court determined that devices that merely store numbers to be dialed are not covered by the TCPA.


NAFCU's 2020 Advocacy Priorities. Because to us, it's personal. Read Advocacy Priorities [link removed]



Today: NCUA Board to propose rule on corporate CUs, finalize CECL interagency policy statement [ [link removed] ]
The NCUA Board holds its second meeting of 2020 today and on the agenda is a proposed rule related to corporate credit unions and a final interagency policy statement on the current expected credit loss (CECL) standard. Additional details on the agenda items are available here.


NAFCU meets at FHFA on financial eligibility requirements [ [link removed] ]
NAFCU's Carrie Hunt and Ann Kossachev met Wednesday at the Federal Housing Finance Agency (FHFA) with several executives from the agency and government-sponsored enterprises (GSEs) to discuss recently proposed updated minimum financial eligibility requirements for Fannie Mae and Freddie Mac Seller/Services.


Latest Compliance Blog offers refresher on Reg Z [ [link removed] ]
In the latest Compliance Blog post, NAFCU Senior Regulatory Compliance Counsel Jennifer Aguilar reviews the opt-in process that must be completed before charging members when they exceed a credit limit on a credit card account.


FOMC minutes reflect stable rates despite coronavirus threat [ [link removed] ]
Members of the Federal Open Market Committee (FOMC) – the Federal Reserve's monetary policy-setting arm – agreed that the labor market had remained strong since the last meeting with economic activity rising at a moderate rate, according to minutes from the committee's January meeting.



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