Also: Berger delivers Washington update; NAFCU shares housing finance reform priorities ahead of hearing



NAFCU TODAY | The News You Need Daily.

September 10, 2019



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Kraninger unveils new CFPB effort to cut back on regulatory duplication [ [link removed] ]
In her address to attendees at NAFCU's Congressional Caucus Monday, CFPB Director Kathy Kraninger announced that the bureau will be using four tools to improve processes. Notably, one of the tools Kraninger discussed acknowledges the need for regulatory clarity when it comes to supervision. Credit unions subject to CFPB and NCUA rules have said before that some examination processes are duplicative, reducing valuable credit union resources.


Berger opens Caucus with call to action [ [link removed] ]
NAFCU President and CEO Dan Berger kicked off the association's 2019 Congressional Caucus with an in-depth Washington update for the hundreds of credit union representatives in town to advocate for credit union priorities. He also discussed the state of the industry, growth opportunities and economic trends.


NAFCU shares housing finance reform principles ahead of hearing [ [link removed] ]
Ahead of today's Senate Banking Committee hearing examining housing finance reform, NAFCU Vice President of Legislative Affairs Brad Thaler sent a letter noting the importance of a legislative solution prior to any administrative action.






Gretchen Carlson rallies CUs to take on 'Goliath' [ [link removed] ]
Former Fox News anchor Gretchen Carlson – delivering an emotional opening keynote that earned a standing ovation to a packed room at NAFCU's 2019 Congressional Caucus Monday – instilled a David versus Goliath mindset in credit unions as they prepare to head to Capitol Hill to advocate on key issues.


HUD at Caucus gives first live update since housing reform release [ [link removed] ]
Credit unions received updates directly from administration officials on housing finance and cybersecurity initiatives during NAFCU's Congressional Caucus Monday. Brian Montgomery, acting deputy secretary and federal housing commissioner for the Department of Housing and Urban Development (HUD), and Brian Peretti, director of the Treasury Department’s Office of Cybersecurity and Critical Infrastructure Protection, provided the updates.


Hill staffers offer tips for meetings; Clay touts CUs' good work [ [link removed] ]
Before heading out for the first afternoon of meetings on Capitol Hill, credit unions at NAFCU's Congressional Caucus received tips from congressional staff on how to hold effective meetings, as well as updates on key issues. Rep. Lacy Clay, D-Mo., chair of the House Financial Services Subcommittee on Housing, Community Development and Insurance, also touted credit union efforts to provide financial services to those in need.


Hood, Mulvaney headline day 2 at NAFCU's Caucus [ [link removed] ]
Hundreds of credit unions are back for day two of NAFCU's Congressional Caucus, which runs through tomorrow, joining NAFCU's award-winning advocacy team for a Capitol Hill takeover. While in Washington, industry representatives will share key credit union issues with members of the House and Senate during a record number of meetings on Capitol Hill.


NAFCU's Hunt breaks down faster payments proposal in op-ed [ [link removed] ]
NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt published an op-ed in the Credit Union Journal discussing the Federal Reserve's proposal to create the FedNow Service, which would give credit unions the option to participate in a real-time payments system.


Appeals court rules net worth sweeps illegal, finds FHFA structure unconstitutional [ [link removed] ]
The U.S. Court of Appeals for the Fifth Circuit, sitting en banc, ruled that the Federal Housing Finance Agency's (FHFA) single-director structure is unconstitutional – a departure from the decisions of five other courts that have considered the agency's structure. The court last year determined the same, citing arguments used in a lawsuit against the CFPB.



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