The Senate Wednesday passed a Congressional Review Act (CRA) resolution with bipartisan support aimed at blocking an overreaching CFPB rule related to small business lending data collection under section 1071 of the Dodd-Frank Act.
The Senate Banking Committee today is set to hear from NCUA Board nominee Tonya Otsuka, who has been nominated to replace current Board Member Rodney Hood as his term expired in August. Ahead of the nomination hearing, NAFCU and CUNA sent the committee an outline of key credit union issues to consider with Otsuka’s nomination.
The NCUA Board will hold its October meeting today at 10 a.m. Eastern. The board is expected to discuss a notice of proposed rulemaking to amend and simplify its share insurance rules, as well as a proposal to enact the Fair Hiring in Banking Act. The board will also receive a cybersecurity update.
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The Federal Reserve released its Beige Book Wednesday, revealing the near-term outlook for the economy was generally described as stable, or having slightly weak growth. Consumer spending was mixed, especially among general retailers and auto dealers, due to differences in prices and product offerings.
A recent Credit Union Times article includes highlights of the professional accomplishments of NAFCU Director of Regulatory Compliance Nick St. John and Senior Regulatory Affairs Counsel James Akin who are among finalists for the 2023 Credit Union Times LUMINARIES Awards in the Rising Star category under Service and Technology Organizations.
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.
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