Also: NAFCU, trades alert Sen. Hawley to consequences of his credit card bill; FOMC holds rates steady
September 21, 2023
Senators introduce NAFCU-supported bill for marijuana banking ([link removed] )
A bipartisan group of senators introduced a revised version of legislation to provide greater clarity and legal certainty at the federal level for financial institutions to provide services to marijuana-related businesses (MRBs) in states that have legalized marijuana.
NAFCU, trades reiterate consequences of credit card bill ([link removed] )
NAFCU and several other financial services industry trade groups sent a letter to Sen. Josh Hawley, R-Mo., to voice opposition to his Capping Credit Card Interest Rates Act (S. 2760). The groups argued that imposing an all-in annual percentage rate (APR) cap for credit cards at 18 percent “would severely restrict the availability of this type of credit for everyday consumers and effectively harm the very people the proposed legislation seeks to protect.”
FOMC maintains rates, suggests ‘positive outlook’ on inflation ([link removed] )
The Federal Open Market Committee (FOMC) concluded its September meeting yesterday, where the committee maintained the target range for the federal funds rate between 5.25 to 5.5 percent.
Final Days To Register For One Of The🔥Hottest🔥Conferences Of The Year!
Register now for the Virtual Regulatory Compliance & BSA Seminar ([link removed] ) , happening September 26 – 28. You’ll attend virtually, in real-time, with the in-person attendees.
Today: NCUA Board to finalize financial innovation rule ([link removed] )
The NCUA Board meets today and on its agenda is a final rule on financial innovation related to loan participation and eligible obligation regulations. NAFCU, commenting on the proposal, urged the agency to not “undermine the flexibility and autonomy it intends to provide credit unions by prescriptively defining or otherwise limiting key aspects of loan participation and eligible obligation activities.”
Mesack pens new op-ed on themes of Congressional Caucus ([link removed] )
NAFCU Senior Vice President of Government Affairs Greg Mesack, in a new op-ed for CU Insight, detailed the industry issues that were top-of-mind during the association’s Congressional Caucus, which wrapped up last week.
New on the Compliance Blog: Collections violations, commercial real estate guidance ([link removed] )
As credit unions work to meet the needs of more than 138 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.
GLIA AD1 - 09152023 ([link removed] )
NAFCU CALENDAR ([link removed] )
SEPT
19 - 21
CFO Summit ([link removed] )
Las Vegas, NV
SEPT
22
Understanding Credit Card Portfolio Sales & Agent Programs ([link removed] )
Webinar
SEPT
26 - 28
Regulatory Compliance & BSA Seminar ([link removed] )
Savannnah, GA or Virtual
SEPT
27
Financial Services Mega-Trends: Welcome to a Whole New World of Financial Services ([link removed] )
Complimentary Webinar
⏰ 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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