Also: House vote on short-term funding bill expected; CFPB will continue to publish consumer complaints
NAFCU TODAY | The News You Need Daily.
September 19, 2019
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Today: NCUA Board to finalize rules on PALs, bylaws, supervisory committee audits [ [link removed] ]
The NCUA Board today is expected to issue three final rules: payday alternative loans (PALs), federal credit union bylaws, and supervisory committee audits. The board, during its first meeting since July, is also set to receive an update on the share insurance fund.
Congress considers spending bills as deadline approaches [ [link removed] ]
Current government funding is set to expire at the end of the month. While Senate appropriators are working through individual, longer-term funding bills, the House is set to vote on a short-term measure that would fund the government until Nov. 21.
CFPB to continue publishing consumer complaints [ [link removed] ]
Despite concerns from NAFCU and other financial institutions about the reputational harm of publishing inaccurate, unverified consumer narratives, the CFPB will continue to publish its consumer complaint database. It did make enhancements, including disclaimers to provide better context to the published data.
NDAA conference committee to meet today [ [link removed] ]
The conference committee established to reconcile differences between the House and Senate versions of the 2020 National Defense Authorization Act (NDAA) is set to hold its first meeting today. NAFCU will monitor discussions related to a provision opposed by credit unions that would treat big banks the same as local, not-for-profit credit unions when it comes to nominal leases on military bases.
Fed cuts rates again, predicts stronger economic growth [ [link removed] ]
As anticipated, the Federal Open Market Committee (FOMC) ended its two-day monetary-policy setting meeting with a 25 basis point rate cut – the second of the year. NAFCU Chief Economist and Vice President of Research Curt Long said given the split opinions on the committee, NAFCU doesn't expect any more rate changes this year.
CFPB holds behavioral law symposium [ [link removed] ]
The CFPB today is holding a symposium on behavioral law and economics – the second in a series that is meant to explore consumer protections in "today’s dynamic financial services marketplace." NAFCU will attend the event.
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