Ahead
of election, NAFCU pushes for more CU wins
Although 2020 has been a
year of challenges, NAFCU and the credit union industry have achieved several
wins as they've worked to obtain a more efficient regulatory environment
and better serve the industry's 122 million members amid the coronavirus
pandemic. With the presidential election less than a week away, here's a
look at key issues and how NAFCU will keep fighting for credit unions.
NAFCU
provides CFPB with CU insights, CARD Act recommendations
NAFCU's
Andrew Morris wrote to the CFPB Tuesday in response to the bureau's review
of the Credit Card Accountability Responsibility and Disclosure (CARD) Act and
request for information (RFI) on the current consumer credit card market, reiterating
the association's prior call for additional regulatory clarity to encourage
more efficient disclosure practices, such as granting flexibility when providing
required disclosures via online and mobile banking platforms.
HUD's
disparate impact rule faces legal challenges
After going into effect
Monday, the Department of Housing and Urban Development's (HUD) final rule
to amend the Fair Housing Act's (FHA) disparate impact standard is facing
two legal challenges: One in California and one in Connecticut.
Advance your career as
a credit union leader—fast
NAFCU's Virtual Management and
Leadership Institute sold out the last 3 years!
Today:
NCUA Board to consider proposed interagency rule
The NCUA Board is
set to hold a special meeting today to consider a proposed interagency rule – informally
issued earlier this month by the federal financial regulators – on the role
of supervisory guidance to clarify that agency guidance "does not have the force of law."
Compliance
Seminar continues with focus on fraud, recent trends
NAFCU's Virtual
Regulatory Compliance Seminar continues today with general sessions on Regulation
E and recent fraud trends. The conference, which runs through Friday, is designed
to provide compliance professionals with an opportunity to stay on top of evolving
regulatory trends and hot topics to fully understand the new and developing landscape.
