NAFCU
encourages lawmakers to assess riskiness of big banks
Ahead of today's
hearing examining the proposed merger between SunTrust and BB&T, NAFCU encouraged
members of the House Financial Services Committee to look at big bank riskiness
and the impact a potential merger would have on consumers, community institutions and competition.
Report:
Data breaches cost $3.9M on average
A new report from IBM Security
found that data breaches cost affected organizations $3.92 million on average
worldwide, up 12 percent over the past five years. U.S. companies impacted by
data breaches, however, lose $8.19 million on average.
SSN
verification database enrollment underway
As directed by the Economic
Growth, Regulatory Relief, and Consumer Protection Act (S. 2155), enrollment is
underway for the Social Security Administration's (SSA) database to verify
an individual's social security number (SSN).
NAFCU's 2019 Credit Union Compliance GPS
Review
updates on S.2155, Field of Membership, Privacy and more!
Congress,
White House reach debt ceiling, budget deal
Congress and the White
House this week reached a two-year, $1.37 trillion budget deal that would suspend
the debt ceiling to July 2021 and increase various funding levels. Both chambers
are expected to pass the deal before members leave for August recess, the House
yet this week and the Senate next week.
Senators
discuss marijuana banking concerns
The Senate Banking Committee Tuesday
discussed a number of concerns related to providing financial services to marijuana-related
businesses (MRBs), including the lack of guidance and risk of criminal activity.
Ahead of the hearing, NAFCU reiterated the need for greater clarity and legal
certainty at the federal level for credit unions that serve MRBs.
House
to vote on bill to stop bad robocalls today
NAFCU's Brad Thaler,
in a letter to House leadership ahead of the chamber's vote today on a bill
to target illegal robocalls, praised the House Energy and Commerce Committee for
its work in crafting a bill that seeks "to ensure consumers still receive
wanted, time-sensitive information from their credit unions."
NAFCU's
online communities see growth
In the past year, NAFCU launched two
exclusive member-only online communities to provide credit union professionals
with platforms to have candid conversations on key issues and connect on strategies.
These communities for CFOs and compliance, risk and BSA professionals have thousands
of members and see daily engagement. Access the networks here.
'Flat'
existing-home sales fall in June
Existing-home sales fell 1.7 percent
to a seasonally adjusted annual rate of 5.3 million units in June, a slight retreat
from gains made in the previous month. NAFCU Chief Economist and Vice President
of Research Curt Long described the sales trend as "flat."
