NCUA
proposes rule to address FOM lawsuit concerns
The NCUA Board Thursday
proposed a rule to make the 2016 field of membership (FOM) rule consistent with
the recent decision from the U.S. Court of Appeals for the D.C. Circuit in the
lawsuit brought by the American Bankers Association (ABA). NAFCU stood by the
NCUA throughout the lawsuit and has urged the NCUA to continue efforts to modernize FOM rules.
5
things CU leaders need 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 need-to-know news bits:
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Lawmakers
discuss need for federal data security laws
Sen. Thom Tillis, R-N.C.,
emphasized the need for a federal law that addresses data breach, data privacy
and ownership issues during a Senate Banking Committee hearing Thursday. Ahead
of the hearing on data privacy rights and data valuation, NAFCU Vice President
of Legislative Affairs Brad Thaler urged the committee to consider a national
standard for institutions that collect and store consumer information.
Despite
dip, new-home sales show solid annual growth
Although new-home sales
fell slightly in September to 701,000 annualized units, the month's sales
were 15.5 percent higher than last year. NAFCU Chief Economist and Vice President
of Research Curt Long said "[a] key to this year's housing resurgence
has been increased construction activity."
