This
week: NCUA testifies before Congress; Senate Commerce to discuss data privacy
Congress returns to session this week. With only three weeks until the expiration
of federal government funding, lawmakers are expected to work on fiscal year 2020
spending bills in order to avert a shutdown. In addition, the House Financial
Services Committee and Senate Banking Committee will hold hearings with financial
services regulators, including the NCUA.
Supreme
Court schedules oral arguments in CFPB structure challenge
The U.S.
Supreme Court is currently scheduled to hold oral arguments March 3, 2020, in
the lawsuit filed by Seila Law challenging the CFPB's single-director structure.
The CFPB previously announced it would no longer defend its director structure,
following years of lawsuits and calls to reform it from various stakeholders.
Top
5 compliance issues of November: Overdraft and RDC patent litigation, CCPA regs
NAFCU's award-winning compliance team works daily to offer compliance assistance
and services to keep credit unions informed of the ever-changing regulatory environment.
Each month, the team answers hundreds of compliance-related questions and blogs
on key issues. In 2019, the team answered numerous member questions, while authoring blog
posts, articles, charts, guides and tools.
It's Cyber Monday: Last chance to save $333 with code CYBER!
Use CYBER on any NAFCU conference and online training subscription!
CYBER
Monday: Save $333 on NAFCU's educational offerings
Holiday shopping
is now in full force and NAFCU is celebrating with a CYBER Monday sale, giving
credit unions one last chance to save $333 on its 2020 conference registrations
and online training programs. There is no limit to how many times the CYBER code
can be used; it expires at 11:59 p.m. Eastern.
Fed
approves 2020 fees for priced services
The Federal Reserve Board has
approved of the fee schedules for payment services the Federal Reserve Banks provide
to depository institutions in 2020. The changes are estimated to result in a 2.4
percent average price increase across their services.
Despite
volatility, NAFCU economist expects steady GDP growth in 2020
The Commerce
Department released its revised estimate for third quarter economic growth, which
it bumped from its initial estimate of 1.9 percent to 2.1 percent. NAFCU Chief
Economist and Vice President of Research Curt Long attributed the upward revision
to "consumer spending, which exceeded expectations."
