New
members bolster NAFCU heading into Caucus
NAFCU consistently works
to set the record straight on the differences between credit unions and banks
as the banking industry continues to lobby to have their requirements relaxed
while trying to put the requirements on credit unions. At this year's Congressional
Caucus, NAFCU will be heading to Capitol Hill with hundreds of credit union executives
and volunteers, ensuring the industry's voice is heard.
This
week: FOMC holds annual retreat, NAFCU maintains advocacy push
The
Federal Open Market Committee (FOMC) – the Fed's monetary policy-setting
arm – is set to meet in Jackson Hole, Wyo., for its annual retreat this week
while lawmakers remain in their home districts and states as the August recess continues.
HUD
releases revisions to 'disparate impact' standard
The Department
of Housing and Urban Development (HUD) released a proposed rule to amend the Fair
Housing Act's "disparate impact" standard. The proposed rule provides
more guidance on what constitutes unlawful disparate impact and aligns the process
more closely with a 2015 Supreme Court decision, changes for which NAFCU had advocated.
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Hood:
NCUA monitoring hemp banking issues
NCUA Board Chairman Rodney Hood
acknowledged the uncertainty around providing financial services to hemp farmers
and processors, noting that the agency is consulting with the Financial Crimes
Enforcement Network (FinCEN) and other federal banking regulators on possible guidance.
When
are credit scores required on adverse action notices?
In a follow-up
to a previous Compliance Blog post, NAFCU Regulatory Compliance Counsel Loran
Jackson details when a credit union must include a credit score on an adverse action notice.
