Cannabis banking bill advanced out of committee; efforts to fund gov’t continue

The Senate Banking Committee Wednesday advanced the NAFCU-supported Secure and Fair Enforcement Regulation (SAFER) Banking Act. Ahead of the markup, NAFCU flagged concerns about potential regulatory overreach, many of which were addressed in an amendment from Senate Banking Committee Chairman Sherrod Brown, D-Ohio. Senate Majority Leader Chuck Schumer, D-N.Y., said he plans to bring the bill for a full chamber vote as soon as possible.

NAFCU, trades meet with Treasury on financial inclusion

NAFCU Senior Vice President of Government Affairs Greg Mesack and Vice President of Regulatory Affairs Ann Petros, along with staff from other financial trade groups, met Wednesday with Treasury staff to discuss the development of a national strategy to increase financial inclusion, specifically at depository financial institutions.

New CFPB report on mortgage trends shows increased closing costs, denials

The CFPB Wednesday released its annual report on residential mortgage lending activity and trends. “The higher interest rate environment had profound effects on the mortgage market in 2022, with borrowers paying much more in monthly payments,” said CFPB Director Rohit Chopra. “These trends are likely to continue given further increases in interest rates in 2023.”

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New CUPP episode dives into women in leadership

On the latest episode of NAFCU’s Credit Union Policy Podcast (CUPP), host and NAFCU Vice President of Regulatory Affairs Ann Petros talks with Canopy Credit Union President and CEO Charlotte Nemec about her journey as a leader in the credit union industry.

New on the Compliance Blog: Government shutdown, AI

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.