Also: NCUA Board nominee advances to full Senate; NAFCU outlines concerns, recommendations for DOL overtime rule
November 8, 2023
Industry win: CFPB issues proposal to level playing field between fintechs, CUs ([link removed] )
The CFPB Tuesday issued a NAFCU-supported proposed rulemaking to provide new federal oversight of fintech companies and other providers of digital wallets and payment apps. The proposal would subject large technology companies to the same supervisory examination process as credit unions and banks.
Otsuka’s NCUA appointment advances from committee ([link removed] )
The Senate Banking Committee voted Tuesday to advance Tanya Otsuka’s nomination to the NCUA Board. If confirmed by the full Senate, Otsuka would replace NCUA Board Member Rodney Hood as his term expired in August.
NAFCU pens letter to DOL on overtime rule ([link removed] )
NAFCU Senior Regulatory Affairs Counsel Amanda Smith Tuesday wrote to the Department of Labor (DOL) on its proposed rulemaking to change the thresholds and methods used to delimit overtime and minimum wage exemptions. The proposal would amend the DOL’s regulations implementing the Fair Labor Standards Act (FLSA) by increasing the minimum salary levels used for determining whether an employee is exempt from minimum wage and overtime pay rules.
👉 Back after a sell-out year!
The 2024 Board of Directors and Supervisory Committee Conference ([link removed] ) is returning after quickly selling out in 2023. Join your peers April 15 – 18 in the beautiful seaside town of Newport, RI.
What You'll Learn in Newport, RI ([link removed] )
Fed survey: Banks report less tolerance for risk in Q3 ([link removed] )
The Federal Reserve’s October senior loan officer opinion survey (SLOOS) on bank lending practices examined changes in the standards and terms on demand for bank loans to businesses and households generally corresponding to the third quarter of 2023. According to the survey, banks reported tightened lending standards and weaker demand across categories.
NAFCU, CUNA call for NCUA to extend share insurance proposal comment period ([link removed] )
NAFCU and CUNA wrote to the NCUA Tuesday to request an extension to the comment period for the agency’s proposed amendments to its regulations governing share insurance coverage for revocable and irrevocable trusts.
NCUA awards $400K in CDRLF pilot grants ([link removed] )
The NCUA awarded a total of $400,000 in Community Development Revolving Loan Fund grants to support innovative credit union pilot projects at four credit unions. NCUA Chairman Todd Harper said the grants aim “to recognize creative ideas among credit unions trying to build membership and expand their reach, especially to people and communities who had little or no access to affordable financial services.”
1156836133_Indirect-lending-new-generation_DIGITAL_v3_167x300 (2) ([link removed] )
NAFCU CALENDAR ([link removed] )
NOV
7 - 9
Lending Conference ([link removed] )
New Orleans, LA
NOV
15
Successfully Managing the Bank Acquisition Process ([link removed] )
Webinar
NOV
16
The Benefits of Benchmarking your Credit Union’s 401(k) Plan ([link removed] )
Complimentary Webinar
NOV
16
Cybersecurity Incidents - When and How to Report to NCUA ([link removed] )
Webinar
🔍 Join your peers for comprehensive compliance training this spring!
Join your peers and industry experts in Arlington, VA, March 18 - 22, 2024, at the 2024 Regulatory Compliance School ([link removed] ) . You can earn your NCCO certification and secure the 2024 Credit Union Compliance Roadmap for your entire team! CU Compliance from A to Z ([link removed] ) .
JOIN THE CONVERSATION:
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NAFCU. 3138 10th St N Arlington, Virginia 22201
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