'Skinny'
NDAA proposed; CU-opposed provision removed
Senate Armed Services Committee
Chairman Jim Inhofe, R-Okla., has offered a "skinny" version of the
fiscal year 2020 National Defense Authorization Act (NDAA) that does not include
a NAFCU-opposed provision that would treat big banks the same as a local, not-for-profit
credit union when it comes to nominal leases on military bases.
Fed
cuts rates for 3rd time in 2019
The Federal Open Market Committee (FOMC),
as expected, cut interest rates by 25 basis points Wednesday at the conclusion
of its two-day monetary-policy setting meeting. The federal funds target rate
is now set at a range of 1.5 to 1.75 percent.
PALs
II, HMDA, more to be covered in NCUA webinar
The NCUA will host a webinar
Nov. 19 to provide credit unions with information on a range of consumer protection
topics, including the agency's expanded payday alternative loans (PALs II)
program. Registration is now open for the event scheduled to begin at 2 p.m. Eastern.
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GDP beats expectations in Q3
The U.S. economy grew 1.9 percent in the third quarter, according to the Commerce
Department's initial GDP estimate. Although it beat forecasts, the growth
rate slowed slightly from the previous quarter and was the slowest since the end of 2018.
