ICYMI:
NAFCU Network insight post flags FDCPA litigation for CUs
In a recent
post on NAFCU’s Compliance, Risk, & BSA Network, NAFCU Senior Regulatory
Affairs Counsel Kaley Schafer reviews recent litigation related to the Fair Debt
Collection Practices Act (FDCPA) that present significant impacts for financial
institutions located in the 11th Circuit Court of Appeals jurisdiction and could
have broader impacts on interpretation of the FDCPA – especially for credit
unions where a state law requires creditors to follow the FDCPA.
4 things to know this week
NAFCU's widely-read NAFCU Today is credit union leaders' go-to source
for the latest on issues impacting the credit union industry. For those short
on time, here's a roundup of this week's top need-to-know updates and resources:
Compliance
Blog roundup: Inactive HELOCs, CFPB OSA 2020 annual report
As credit
unions work to meet the needs of more than 124 million Americans during the coronavirus
pandemic, NAFCU's award-winning regulatory compliance team continues to keep
credit unions informed with new posts on the Compliance Blog every Monday, Wednesday,
and Friday. This past Monday NAFCU closed to observe Memorial Day.
Critical
Industry Update
Attend NAFCU's State of the Industry complimentary
virtual event to hear the CU industry's best minds dissect the current state of
affairs and discuss what you should expect in the future.
Vehicle sales slip slightly in May
Total vehicle sales fell from 18.8 million annualized units to 17 million annualized
units in May. Monthly sales levels were up 40.3 percent year over year. NAFCU
Chief Economist and Vice President of Research Curt Long analyzed the report in a new Macro Data Flash report.
