Also: Thaler calls on Senate to overturn OCC's 'true lender' rule; FI trades flag burdens of potential tax reporting requirement
NAFCU TODAY | The News You Need Daily.
May 11, 2021
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NAFCU offers recommendations, insights on NCUA's RBC proposal [ [link removed] ]
In response to the NCUA's advanced notice of proposed rulemaking (ANPR) related to simplification of risk-based capital (RBC) requirements, NAFCU's Andrew Morris detailed the association's recommendations and offered support for the agency's efforts to reconsider the 2015 RBC rule – currently scheduled to take effect in 2022.
NAFCU calls on Congress to overturn OCC's 'true lender' rule [ [link removed] ]
NAFCU Vice President of Legislative Affairs Brad Thaler Monday called on senators to support a resolution to use the Congressional Review Act to nullify the Office of the Comptroller of the Currency's true lender rule. The chamber could vote on the resolution this week.
NAFCU, trades flag burden of additional tax reporting requirements [ [link removed] ]
Ahead of a Senate Finance subcommittee hearing today to examine tax evasion and noncompliance, NAFCU joined with several other financial services industry trades to flag concerns with a possible new tax reporting requirement included under the American Families Plan Act.
Virtual summit looks to help CUs capitalize on lending technology [ [link removed] ]
Blend – a NAFCU Services Preferred Partner specializing in digital lending – is hosting a complimentary virtual summit next week to help financial institutions capitalize on technology trends to strengthen consumer relationships, lending platforms, and strategies.
Consumer credit rises for 7th straight month in March [ [link removed] ]
Total consumer credit rose 7.4 percent, at a seasonally-adjusted, annualized rate, in March and is up 0.9 percent versus a year ago. Revolving credit, which is primarily credit cards, rose 7.9 percent during the month but is down 9 percent compared to March 2020.
NCUA issues 1 prohibition notice in April [ [link removed] ]
The NCUA in April issued one prohibition notice, prohibiting an individual previously associated with credit unions from any future participation in the affairs of a federally-insured financial institution.
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