The Senate Wednesday confirmed Todd Harper to serve a full term as NCUA Board Chairman, in a 59 - 40 vote. The Senate Banking Committee in January earlier this year advanced Harper’s nomination in a 17-7 bipartisan vote, after meeting in October to discuss his nomination.
NAFCU President and CEO Dan Berger met with House Small Business Committee Ranking Member Rep. Blaine Luetkemeyer, R-Mo., Wednesday to discuss several topics of importance to credit unions. NAFCU Senior Vice President of Government Affairs Greg Mesack, Vice President of Legislative Affairs Brad Thaler, and Senior Director of Legislative Affairs Chad Adams were also in attendance.
NAFCU has awarded Reps. Tom Emmer, R-Minn., and Ed Perlmutter, D-Colo., the NAFCU Credit Union Champion Award in recognition of their leadership and track record of success on important credit union industry issues. NAFCU's Congressional Credit Union Champion Awards honor members of Congress who have shown extraordinary dedication to supporting credit unions through introduction of credit union-friendly legislation, cosponsoring of credit union-friendly legislation, leading or signing on to "Dear Colleague” letters, and exhibiting a pro-credit-union voting record.
NAFCU’s Congressional Caucus Support credit unions at the industry’s most intimate advocacy event! Save $200.00 with code CCSAVINGS by 7/15
Fannie Mae and Freddie Mac, the government-sponsored enterprises (GSEs), announced Wednesday their Equitable Housing Finance Plans that identify and address barriers to sustainable housing opportunities and break down goals and action plans to advance equity in housing finance for the next three years. Notably, Freddie Mac's plan includes NAFCU-requested increases in capital for community development financial institutions (CDFIs) and minority depository institutions (MDIs).
NAFCU Wednesday sent members a Regulatory Alert breaking down and soliciting feedback on the Financial Crimes Enforcement Network's (FinCEN) advanced notice of proposed rulemaking (ANPRM) on creating a No-Action Letter (NAL) program.
Total consumer credit rose 10.1 percent, at a seasonally adjusted, annualized rate, in April and is up 7.5 percent compared to a year ago. Revolving credit - primarily credit cards - rose 19.6 percent this month and is up 13.1 percent compared to April 2021. Non-revolving credit – primarily auto loans and education loans – rose 7.1 percent this month and is up 5.8 percent from a year ago.
The CFPB Tuesday released a data spotlight analyzing changes in the financial well-being of adults in the U.S. from the years 2017 to 2020. The data uses the bureau’s Financial Well-being Scale and Score, measuring a “holistic sense of financial well-being.”
The United States Court of Appeals for the 11th Circuit published a decision last month holding that the Dodd-Frank Act “does not prohibit the enforceability of delegation clauses contained in consumer arbitration agreements ‘in any way.’” In this case of Attix. v. Carrington Mortgage Services, LLC., the 11th Circuit Court reversed a decision from the U.S. District Court denying Carrington’s motion to compel arbitration. This opinion remains significant because it is one of the first appellate decisions in the country concerning the Dodd-Frank Act’s arbitration provision.
