NAFCU
seeks CU feedback on Fed’s FedNow proposal
The Federal Reserve last
week issued a proposed rule to govern funds transfers over its FedNow Service
that would establish a new, comprehensive set of rules and set out legal rights
and obligations of the Reserve Banks and FedNow Service participants. In a new
Regulatory Alert sent to members Tuesday, NAFCU seeks credit union feedback on the proposal.
Consumer credit rises in April
Total consumer credit rose 5.3 percent, at a seasonally-adjusted, annualized rate,
in April and is up 2.4 percent versus a year ago. Revolving credit, which is primarily
credit cards, fell 2.4 percent during the month and is down 5.5 percent compared to April 2020.
ICYMI:
May-June NAFCU Journal offers insights on post-COVID remote work, compliance
The May-June edition of The NAFCU Journal is available on the association'sÂ
virtual hub and includes several recurring columns featuring important industry
trends and valuable insights from NAFCU and credit union leaders.Â
Complimentary NAFCU Q2
Member Webinar on Jun. 16
Join NAFCU President and CEO Dan Berger
and the association's award-winning advocacy team to hear a six-month recap of
2021, and discuss regulatory and legislative priorities.
