New NAFCU video urges policymakers to provide much needed fintech regulation
NAFCU Tuesday released a new video to alert policymakers and consumers of the growing issue of financial technology companies applying to become a bank or acquiring a bank. In the video, NAFCU urges policymakers and federal financial regulators to make necessary changes to combat the risk this poses to the financial system.

NCUA's Hauptman meets with NAFCU on pressing CU issues
NAFCU President and CEO Dan Berger met with NCUA Vice Chairman Kyle Hauptman Tuesday to discuss top credit union issues and priorities, including capital-related flexibilities and rulemakings, the National Credit Union Share Insurance Fund (NCUSIF), and using new technologies and innovation to better serve members.

Fed recommends synthetic ID fraud definition
The Federal Reserve Tuesday released an industry-recommended definition of synthetic identity fraud: The use of a combination of personally identifiable information (PII) to fabricate a person or entity in order to commit a dishonest act for personal or financial gain.

Last Chance to Register!
Virtual Board of Directors and Supervisory Committee Conference starts next week. Will your board be there?

NAFCU reiterates concerns about costs, limitations of GSEs' PSPA changes
NAFCU joined with several other trade groups Tuesday to reiterate concerns to the Treasury Department and Federal Housing Finance Agency (FHFA) about recent amendments to the government-sponsored enterprises' (GSEs) Preferred Stock Purchase Agreements (PSPAs). NAFCU last month month flagged that the changes would add to the GSEs' compliance costs and could result in increased fees for borrowers and lenders.

CDRLF grant applications open May 3
Low-income designated credit unions can begin applying for grants through the NCUA's Community Development Revolving Loan Fund (CDRLF) May 3. The agency plans to give out approximately $1.5 million in grants, according to the notice of funding opportunity.