Hood:
'Smart, effective regulation' needed for CU growth
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
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
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).
NAFCU's 2019 Credit Union Compliance GPS
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Panel
shows opportunities, potential pitfalls of marijuana banking
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
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
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
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
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
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
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.
