Also: Berger criticizes NCUA’s ‘unreasonable’ proposed budget increase; GDP sees ‘significant growth’ in Q3
NAFCU Today

October 27, 2023

Court issues nationwide stay of CFPB’s 1071 rule

The U.S. District Court for the Southern District of Texas Thursday issued an order expanding its suspension of the CFPB’s 1071 rule to apply to all financial institutions, including credit unions, covered by the rule. The implementation is delayed until the Supreme Court rules on the constitutionality of the bureau’s funding structure.

NCUA proposes 9.5% budget increase for 2024-25; NAFCU updates fee calculator

The NCUA Thursday released its proposed budget for 2024-2025. The agency has proposed a $394.5 million budget for 2024, an increase of 9.5 percent from 2023. Additionally, the NCUA proposed a budget of $433.6 million for 2025, an increase of 9.9 percent from the 2024 proposed budget.

GDP experiences ‘significant growth’ in Q3

According to data from the Commerce Department, the U.S. economy experienced significant growth of 4.9 percent in the third quarter of 2023. NAFCU Vice President of Research and Chief Economist Curt analyzed the data in NAFCU’s Macro Data Flash report.


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5 things to know this week

NAFCU's widely read NAFCU Today is credit union leaders' go-to source for the latest on issues impacting the credit union industry. For those short on time, here's a roundup of this week's top need-to-know updates and resources.

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  NAFCU CALENDAR
OCT
23 - 27
Management and Leadership Institute
Annapolis, MD
OCT
31
Check Fraud - Who Bears the Risk?
Webinar
NOV
7 - 9
Lending Conference
New Orleans, LA
NOV
15
Successfully Managing the Bank Acquisition Process
Webinar
JAN
4
Compliance Deadline: FinCEN - Beneficial Ownership Reporting Requirements
Compliance Deadline

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