Also: CUs say CFPB isn’t effective, needs reform in new survey; District court rules against CFPB’s UDAAP authority
September 11, 2023
This week: NAFCU advocacy in action at Caucus as Congress returns ([link removed] )
This week, NAFCU’s award-winning advocacy team is hard at work on Capitol Hill as both the House and Senate are in session and the association welcomes hundreds of credit union leaders to its Congressional Caucus.
CUs say CFPB is ripe for reform, according to NAFCU survey ([link removed] )
NAFCU conducted a survey of member credit unions of all asset sizes regarding the CFPB and its recent regulatory actions. The survey revealed that 94 percent of respondents overwhelmingly agree that Congress needs to reform the CFPB.
District court rules against CFPB’s UDAAP authority ([link removed] )
Friday evening, a federal judge in Texas granted summary judgment in a case challenging the CFPB’s unfair, deceptive, or abusive acts or practices (UDAAP) exam manual. The plaintiffs in the case, including the American Bankers Association, U.S. Chamber of Commerce, and others, challenged that the bureau and its director, Rohit Chopra, unlawfully expanded the statutory definition of “unfairness” to include discrimination.
🚩Closes 9/30 // Final Days To Register!
Sign up now for Regulatory Compliance School On-Demand ([link removed] ) . Registration closes on 9/30, with access through 12/1/2023. Earn your NCCO when you pass the optional exams!
NAFCU kicks off 2023 Congressional Caucus ([link removed] )
Today, hundreds of credit union advocates will gather in Washington, D.C., as NAFCU begins its 2023 Congressional Caucus. The conference features a fantastic lineup of influential administration officials, lawmakers, and regulators who will address credit unions throughout the week on key issues.
NAFCU, industry groups reiterate need to fix SBA 7(a) concerns ([link removed] )
NAFCU, along with several other financial trade associations, sent a letter ahead of a House Small Business Committee markup scheduled for this Thursday to strongly encourage a bipartisan solution to fix the issues from recent policy changes to the 7(a) loan program.
Available now: CUPP episode provides basics of labor law, DOL requirements ([link removed] )
On the latest episode of NAFCU’s Credit Union Policy Podcast (CUPP), host and NAFCU Vice President of Regulatory Affairs Ann Petros talks with Victor Cardwell, principal and chairman at the law firm of Woods Rogers Vandeventer Black PLC, about the top labor and employment law issues credit unions should be aware of.
New Reg Alert details DOL proposal for overtime, minimum wage exemptions ([link removed] )
NAFCU sent member credit unions a Regulatory Alert Friday detailing the Department of Labor’s (DOL) proposed rulemaking to change the thresholds and methods used to delimit overtime and minimum wage exemptions. The association noted the proposal “may entail significant new labor costs for credit unions.”
MicrosoftTeams-image-4 ([link removed] )
NAFCU CALENDAR ([link removed] )
SEPT
10 - 13
Congressional Caucus ([link removed] )
Washington, D.C.
SEPT
11 - 12
Large CU Summit ([link removed] )
Washington, D.C. or Virtual
SEPT
14
How AMOCO FCU is optimizing their portfolio in challenging times
([link removed] )
Complimentary Webinar
SEPT
19 - 21
CFO Summit ([link removed] )
Las Vegas, NV
⏰ Hurry – Starts 9/26! NAFCU's Virtual Regulatory Compliance & BSA Seminar ([link removed] )
Hear the latest on evolving regulatory trends September 26 - 28, 2023, happening virtually via live-streaming. Plus, recertify your NCCO and/or NCBSO for two years just by attending! Learn More & Enroll ([link removed] )
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