Mancini
to join NAFCU’s Board of Directors; Grinnell, Schlehuber re-elected
NAFCU has announced the results of its Board of Directors election. A new board
member, Frank Mancini, President and CEO of Connex Credit Union (North Haven,
Conn.), will fill the position of board member and current Board Chair Debra Schwartz,
President and CEO of Mission Federal Credit Union (San Diego, Calif.), whose final
term will be completed in July. In addition, NAFCU Board Secretary Brian Schools
announced Lisa Schlehuber, CEO of Elements Financial Federal Credit Union (Indianapolis,
Ind.) was re-elected to her at-large seat and Gary Grinnell, President and CEO
of Corning Federal Credit Union (Corning, N.Y.) was re-elected outright to the
Eastern Region Director position after running uncontested.
NAFCU
offers feedback on interagency BSA/AML risk management guidance
NAFCU
Senior Regulatory Affairs Counsel Kaley Schafer wrote to the NCUA Thursday to
offer comments on an interagency request for information (RFI) seeking feedback
on whether or not the principles included in interagency supervisory guidance
on model risk management (MRMG) effectively support compliance with Bank Secrecy
Act (BSA)/anti-money laundering (AML) requirements.
4 things to know
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:
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.
New
on the Compliance Blog: NCUA derivatives rule, ransomware, Reg E
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.
Year-over-year
CPI up in May; Fed is unlikely to raise rates any time soon
On a seasonally-adjusted
basis, overall consumer prices rose 0.6 percent in May, with the Bureau of Labor
Statistics reporting the overall consumer price index (CPI) grew 4.9 percent over
the 12-month period. In a new Macro Data Flash report, NAFCU Chief Economist
and Vice President of Research Curt Long noted that the year-over-year rise is
the "Year-over-year measures are distorted by base effects, but the price
index has grown by 2 percent over the past three months, which is the fastest pace since 2005"
