Also: Nussle, Berger counter misleading survey from bankers; House elects Louisiana's Johnson as new Speaker

October 26, 2023

Mesack says Fed’s interchange proposal is ‘misguided’ ([link removed] )

The Federal Reserve Board of Governors met Wednesday and issued a request for comment on proposed revisions to the debit interchange fee cap under Regulation II. Under the Fed’s proposal, the interchange fee received by a debit card issuer for a debit card transaction would decrease from 21 to 14.4 cents, the ad valorem component – the number of basis points multiplied by the value of the transaction – would decrease from 5 basis points to 4 basis points, and the fraud-prevention adjustment would increase from 1 cent to 1.3 cents.

Nussle, Berger counter misleading survey from bankers ([link removed] )

In a new op-ed in RealClear Markets, CUNA President and CEO Jim Nussle and NAFCU President and CEO Dan Berger hit back against a recent survey from bankers that misleadingly asserts consumers don’t support the credit union tax exemption. Nussle and Berger pointed to real data that demonstrate the benefits of the industry’s tax-exempt status.

House votes Louisiana’s Johnson as Speaker of the House ([link removed] )

The Republican majority of the House of Representatives elected Rep. Mike Johnson, R-La., to serve as the 56th Speaker of the House of Representatives yesterday, ending a 22-day stretch without a leader for the chamber. Business on the House floor can now resume, and lawmakers are set to tackle funding issues before the continuing resolution to keep the government funded ends on Nov. 17.

Empower Your Growth With Our Upcoming 2024 Conference Lineup ([link removed] )

Discover new ideas, forge stronger connections and keep your CU thriving. Early bird savings have begun!

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CFPB releases biennial report on credit card market ([link removed] )

The CFPB Wednesday released its biennial report on the state of the consumer credit card market. The report explores credit card trends, differences between consumers based on credit scores, issuer practices, and more.

New CUPP episode tackles mortgage tech trends ([link removed] )

A new episode of the Credit Union Policy Podcast (CUPP) is now available, exploring trends in the use of technology in the mortgage lending and servicing space.

New on the Compliance Blog: Credit decisions and immigration status, CFPB’s attack on ‘junk fees’ ([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.

New home sales rise in September ([link removed] )

New home sales rose 12.3 percent in September to 759,000 annualized units, while sales in August were revised up 1,000 units. Compared to last year, September’s sales were 33.9 percent higher. NAFCU Research Analyst John Hay examined the data in a Macro Data Flash report.

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NAFCU CALENDAR ([link removed] )

OCT

23 - 27
Management and Leadership Institute ([link removed] )

Annapolis, MD

OCT

31
Check Fraud - Who Bears the Risk? ([link removed] )

Webinar

NOV

7 - 9
Lending Conference ([link removed] )

New Orleans, LA

NOV

15
Successfully Managing the Bank Acquisition Process
([link removed] )

Webinar

JAN

4
Compliance Deadline: FinCEN - Beneficial Ownership Reporting Requirements ([link removed] )

Compliance Deadline

NAFCU’s 2024 Board of Directors and Supervisory Committee Conference

Thoroughly understand your financial obligations and gain a deeper insight into your vital role at NAFCU’s 2024 Board of Directors and Supervisory Committee Conference ([link removed] ) , April 15 - 18, 2024, in Newport, RI. View the Agenda ([link removed] )

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