NAFCU reiterates priorities ahead of House FSGG vote

The House today is expected to take a final vote on its version of the fiscal year 2024 Financial Services and General Government (FSGG) appropriations bill once it finishes working through amendments. NAFCU Vice President of Legislative Affairs Brad Thaler called on the chamber to provide full funding for the Community Development Financial Institutions (CDFI) Fund and the Community Development Revolving Loan Fund (CDRLF), as well as the Financial Crimes Enforcement Network (FinCEN).

FHFA looks to return FHLBank System to mission

The Federal Housing Finance Agency (FHFA) released its report on the Federal Home Loan Bank (FHLBank) system Tuesday. The report is part of the agency’s comprehensive review of the FHLBank system ahead of the system’s centennial in 2032. NAFCU provided comments to the FHFA to help inform its report.

New Reg Alert details FinCEN’s proposed rule on CVC mixing

NAFCU sent member credit unions a Regulatory Alert detailing the Financial Crimes Enforcement Network’s (FinCEN) proposed rule to require domestic financial institutions to implement certain recordkeeping and reporting requirements for transactions involving convertible virtual currency (CVC) mixing. CVC mixing is a process that obscures the source of funds.

👉 Back after a sell-out year! 

The 2024 Board of Directors and Supervisory Committee Conference is returning after quickly selling out in 2023. Join your peers April 15 – 18 in the beautiful seaside town of Newport, RI.

New on the Compliance Blog: Regulation B, self-directed IRAs

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. 

Consumer credit continues ‘downward trend’ in September

Total consumer credit grew 2.2 percent in September at a seasonally-adjusted, annualized rate and is up 3.5 percent compared to a year ago. In addition, revolving credit – primarily credit cards – rose 2.9 percent and is up 9.9 percent compared to September 2022. Non-revolving credit – primarily auto and education loans – rose 1.9 percent in September and is up 1.5 percent from a year ago. NAFCU Vice President of Research and Chief Economist Curt Long broke down the data further in a new Macro Data Flash report.

NAFCU closed Friday for Veterans Day

NAFCU’s offices will be closed Friday in observance of Veterans Day. Credit union members will still have access to the association’s website for resources as well as regulatory and legislative updates on key issue areas.