Powell confirmed to serve second term as Fed chair

The Senate yesterday voted 80-19 to confirm Jerome Powell’s nomination to serve a second term as Federal Reserve Board Chair; he will serve a four-year term. The Senate Banking Committee in March approved Powell’s nomination by a 23-1 vote.

NAFCU outlines cons of third party vendor authority for the NCUA ahead of hearing

Today, the House Financial Services Committee Task Force on Artificial Intelligence (AI) will hold a hearing examining the use of AI within regulatory technology for the financial services industry. Ahead of the hearing, NAFCU’s Brad Thaler reiterated opposition for granting the NCUA additional authority to examine third party vendors. Of note, NCUA Director of the Office of Examination and Insurance, Kelly Lay, will serve as a witness during the hearing.

Senators advocate for SAFE Banking Act inclusion in the America COMPETES Act

A group of Senators, led by Sens. Jeff Merkley, D-Ore., and Jacky Rosen, D-Nev., joined together Thursday in a letter to congressional leaders calling for the inclusion of the NAFCU-backed Secure and Fair Enforcement (SAFE) Banking Act in the America COMPETES Act of 2022.

NAFCU Regulatory Compliance School On-Demand
Boost your compliance knowledge and earn your NAFCU Certified Compliance Officer designation, entirely from your home or office, and on your own time.

5 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.

New on the Compliance Blog: BofA hit with $10 million penalty, CFPB Supervisory Highlights

As credit unions work to meet the needs of more than 130 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, which now publishes every Monday and Wednesday.

Fourth edition of NAFCU's CU Director Handbook now available

New to the industry or just looking for a refresher on credit union board basics? The fourth edition of the Credit Union Director Handbook, written by NAFCU Executive Vice President and COO Anthony Demangone, is now available for purchase and provides a breakdown of the roles of credit union board and committee members. The updated version also includes new insights on the NCUA's CAMELS rating system.