Also: WH CoS Mulvaney applauds CUs at NAFCU Caucus; Congressional members tout CUs' work, influence
NAFCU TODAY | The News You Need Daily.
September 11, 2019
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Hood: 'Smart, effective regulation' needed for CU growth [ [link removed] ]
Outlining the NCUA's approach to ensuring the credit union industry's future success, NCUA Board Chairman Rodney Hood told the hundreds of attendees at NAFCU's Congressional Caucus that his goal "is to support and expand upon the credit union industry's long commitment of people helping people." NAFCU President and CEO Dan Berger reiterated NAFCU's support of Hood's agenda following his speech.
Mulvaney updates CUs on economy, administration at Caucus [ [link removed] ]
Mick Mulvaney, President Donald Trump's acting chief of staff and director of the Office of Management and Budget (OMB), offered his insights into the economy and likelihood of a recession, as well as administration efforts to reduce regulations at NAFCU's Congressional Caucus Tuesday.
Lawmakers, SBA share ways CUs can strengthen small biz lending [ [link removed] ]
The important role credit unions play in providing capital to the nation's small businesses was highlighted on the second day of NAFCU's Congressional Caucus by key lawmakers – who also stressed the importance of preserving the credit union tax exemption to ensure credit unions can continue serving their communities – and a representative from the Small Business Administration (SBA).
Panel shows opportunities, potential pitfalls of marijuana banking [ [link removed] ]
Credit union representatives – who indicated Monday that marijuana banking was among the top issues they wanted to learn more about while at Caucus – got an update on the regulatory landscape, consumer trends and more from a panel of diverse experts on the issue.
Day 2: Lawmakers talk diversity, housing finance, reg relief [ [link removed] ]
NAFCU’s Congressional Caucus yesterday welcomed a stellar lineup of key officials, with thought-provoking remarks from several members of the House of Representatives, including Rep. Joyce Beatty, D-Ohio, Rep. Carolyn Maloney, D-N.Y., and Rep. Ted Budd, R-N.C., on topics ranging from diversity and inclusion, to housing finance reform and regulatory relief.
CUs get cybersecurity, election insights at Caucus [ [link removed] ]
To help credit unions address challenges currently facing the industry and prepare for future changes, the second day of NAFCU's Congressional Caucus featured sessions on cybersecurity and the 2020 presidential election.
Next steps for housing finance reform focus of Senate hearing [ [link removed] ]
The Senate Banking Committee's hearing Tuesday focused on housing finance reform efforts revealed a commitment to ensuring credit unions' access to the secondary mortgage market. NAFCU has consistently shared with lawmakers, the administration and other stakeholders the importance of preserving this access.
Caucus' last day features FHFA's Calabria, NCUA's Harper, plus 8 key lawmakers [ [link removed] ]
On the heels of two days of a record number of meetings on Capitol Hill, NAFCU's award-winning advocacy team is closing out this year's Congressional Caucus with some of the most prominent figures in Washington: Federal Housing Finance Agency Dr. Mark Calabria, NCUA Board Member Todd Harper, Senate Banking Committee Ranking Member Sherrod Brown, D-Ohio, and House Financial Services Committee Chairwoman Rep. Maxine Waters, D-Calif.
CFPB issues 3 innovation policies [ [link removed] ]
The CFPB Tuesday issued three new policies – the No-Action Letter (NAL) Policy, Trial Disclosure Program (TDP) Policy, and Compliance Assistance Sandbox (CAS) Policy – intended to promote innovation and facilitate compliance at financial institutions. All three policies were proposed by the bureau last year; the final policies are responsive to NAFCU's recommendation that participation in innovation programs should be made easier.
Despite slowdown, CU consumer credit growth remains up in 2019 [ [link removed] ]
Total consumer credit rose 6.8 percent in July (seasonally-adjusted, annualized) and is up 5.2 percent versus a year ago. Despite a slowdown since the start of 2019, NAFCU Chief Economist and Vice President of Research Curt Long said consumer credit remains up.
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