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.
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.
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.
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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, 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.
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.
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.”
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
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