Also: CUs talk DOL proposal, SCOTUS CFPB case, more on Reg Committee; Consumer credit falls in August

October 11, 2023

NAFCU’s Berger, Mesack highlighted in CU Times ([link removed] )

A recent Credit Union Times article includes highlights of the professional accomplishments of NAFCU President and CEO Dan Berger and Senior Vice President of Government Affairs Greg Mesack, who are among finalists for the 2023 Credit Union Times LUMINARIES Awards in the Executive Leadership category under Service and Technology Organizations.

NAFCU Reg Committee highlights DOL proposal, SCOTUS case, interchange, more ([link removed] )

NAFCU’s Regulatory Committee met Tuesday to discuss the latest issues and proposed rules open for comment, including the Department of Labor’s (DOL) proposed rulemaking on wage exemptions, the oral arguments from the CFPB v. CSFA U.S. Supreme Court case, and recent NAFCU advocacy efforts on artificial intelligence and interchange.

Consumer credit falls in August ([link removed] )

Total consumer credit fell 3.8 percent in August at a seasonally-adjusted, annualized rate and is up 4 percent compared to a year ago. In addition, revolving credit – primarily credit cards – rose 13.9 percent and remains 10.6 percent higher than August 2022. Non-revolving credit – primarily auto and education loans – fell 9.2 percent in August but is up 1.9 percent from a year ago. NAFCU Vice President of Research and Chief Economist Curt Long broke down the data further in a new Macro Data Flash report.

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