Also: NAFCU's Thaler pushes for CDFI funding; Compliance Blog breaks down MLA interpretive rule for CUs



NAFCU TODAY | The News You Need Daily.

March 4, 2020



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Fed cuts rates amidst coronavirus continuation, signals market support [ [link removed] ]
The Federal Reserve cut interest rates by 50 basis points Tuesday in efforts to mitigate the potential economic effects of the coronavirus, also referred to as COVID-19. The federal funds target rate is now set at a range of 1 to 1.25 percent.


Thaler to lawmakers: Fully fund the CDFI program [ [link removed] ]
Ahead of a House Committee on Appropriations subcommittee hearing on the Treasury Department's FY2021 Financial Services and General Government budget request, NAFCU Vice President of Legislative Affairs Brad Thaler urged the subcommittee to fully fund the Community Development Financial Institutions (CDFI) Fund at its current levels or above. In the proposed budget, the Trump Administration recommends eliminating the CDFI Fund.


DoD’s latest interpretive rule explained in Compliance Blog [ [link removed] ]
The Department of Defense (DoD) last week issued a third interpretative rule for its Military Lending Act (MLA) regulations that reverts language for Question No. 2 to guidance originally issued in 2016. NAFCU Vice President of Regulatory Compliance Brandy Bruyere breaks down what this means for credit union operations and how it adds to clarification in a new post on the Compliance Blog.






The NAFCU Journal: Explore fraud prevention, payment modernization, modern CUs [ [link removed] ]
The March-April edition of The NAFCU Journal is now available online and features articles to provide credit unions with insights on how to protect against fraud, new payment technologies and how credit unions can adapt and compete in the 21st century marketplace.


Growth strategies, nontraditional lending wrap up Strategic Growth Conference [ [link removed] ]
Today is the last day of NAFCU’s Strategic Growth Conference and attendees will end the conference learning how to encourage growth within their credit union and reevaluate nontraditional lending options.


2020 NAFCU Board elections begin [ [link removed] ]
NAFCU's 2020 board election cycle is now open with five director positions available – three at-large positions and one position each for the Southern and Western Regions. Three incumbents are seeking re-election.



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