This
week: NAFCU to monitor movement on Capitol Hill, engage on key issues
Members of NAFCU's award-winning government affairs team this week will continue
to engage with lawmakers as the House and Senate remain in session and continue
negotiations on a coronavirus pandemic-related relief package. Pending congressional
intervention, the continuing resolution (CR) signed earlier this year to fund
the federal government will expire this Friday, Dec. 11.
Q3
call report data reflects strength of CU industry
Despite the continuing
coronavirus pandemic, membership at federally-insured credit unions continued
to grow – reaching 123.7 million – according to the NCUA's third quarter
call report data. In addition, total assets rose by $248 billion, or 16.1 percent,
over the year and ended the third quarter at $1.79 trillion.
NAFCU,
trades discuss TCPA exemptions, call blocking with FCC
NAFCU and several
financial trade organizations last week held meetings with the Federal Communications
Commission (FCC) to discuss erroneous call blocking under the TRACED Act, which
is intended to target illegal robocalls, and the commission's notice of proposed
rulemaking (NPRM) seeking comment on various exemptions that have been issued
under the Telephone Consumer Protection Act (TCPA). The group filed two ex parte
letters on these topics to the FCC following the meetings.
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NAFCU's
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As credit unions look
ahead to training and education opportunities in the new year, NAFCU is committed
to providing credit unions with access to the industry's best training opportunities
via its Online Training Center. Starting today, the association is offering $300
off all its online training subscriptions.
November
jobs reflects lowest gain since rebound
The U.S economy added 245,000
jobs in November, the lowest gain since the economy began to rebound in May. NAFCU
Chief Economist and Vice President of Research Curt Long – in a new NAFCU Macro
Data Flash report – highlighted that the growth was "not nearly fast enough given the unemployment overhang."
Vehicle
sales slow in November, expected to remain flat in coming months
Total
vehicle sales slowed in November, falling from 16.3 million annualized units to
15.6 million during the month, representing an 8.1 percent decrease in sales levels
versus last year. However, NAFCU Chief Economist and Vice President of Research
Curt Long noted that due to the month featuring three fewer selling days and one
fewer weekend than in November 2019, “caution is advised in interpreting the monthly results.”
