Also: HFSC passes Close ILC Loophole Act

June 24, 2022

NAFCU’s State of the Industry event prepares CUs for continued success ([link removed] )

NAFCU’s State of the Industry complimentary, virtual event, held Thursday, equipped credit union industry leaders with the data, trends, and key takeaways that are necessary to plan for the future.

HFSC passes the Close the ILC Loophole Act to help protect CUs ([link removed] )

The House Financial Services Committee passed the Close the Industrial Loan Company (ILC) Loophole Act with a 28-25 vote on Wednesday afternoon – bipartisan legislation that NAFCU has fervently supported since it was introduced by Reps. Chuy Garcia, D-Ill., and Lance Gooden, R-Texas. NAFCU joined with other trade associations Wednesday evening expressing support for the bill’s passage – a clear win for the credit union industry.

Powell vows to tackle inflation during two days of testimony before Congress ([link removed] )

This week, Federal Reserve Chair Jerome Powell testified before the Senate Banking Committee on Wednesday and House Financial Services Committee on Thursday as part of the Fed's Semiannual Monetary Policy Report to Congress. During both hearings, Powell vowed that the central bank would do what is necessary to tackle inflation; however, he stressed that what the Fed’s actions may mean for interest rates will depend on how economic data unfolds.

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View Agenda ([link removed] )

NAFCU, trades voice concerns around data privacy draft bill, share support for SECURE Act ([link removed] )

NAFCU along with several other organizations wrote to the House Energy and Commerce Subcommittee on Consumer Protection and Commerce in conjunction with their markup yesterday to consider federal data privacy and security standards as part of H.R. 8152, the American Data Privacy and Protection Act (ADPPA), introduced this week. Of note, the subcommittee passed ADPAA by voice vote and it is now headed to the full committee for a vote.

House Appropriations to markup FY23 Financial Services spending bill ([link removed] )

Ahead of the House Appropriations Committee’s scheduled markup of its recently unveiled Fiscal Year 2023 Financial Services and General Government (FSGG) appropriations bill, NAFCU Vice President of Legislative Affairs Brad Thaler Thursday wrote to the committee to express support for the inclusion of $336.4 million in funding for the Community Development Financial Institutions (CDFI) Fund and $4 million in funding for the Community Development Revolving Loan Fund.

5 things to know this week ([link removed] )

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 NAFCU Network insight post goes in depth on spring 2022 rulemaking agendas ([link removed] )

In a new insight post on NAFCU’s Compliance, Risk, & BSA Network, NAFCU Vice President of Regulatory Affairs Ann Petros dives into administrative agencies’ spring regulatory agendas, which includes several NAFCU and credit union advocacy priorities, as well as already introduced items on previous rulemaking agendas.

New ECU Monitor examines tech transitions, third party vendor authority, more ([link removed] )

NAFCU's latest Economic & CU Monitor – now available for download – takes a look at how credit unions are adopting new technologies and the barriers that exist in terms of cost or risk associated with those adoptions. The monitor focuses on the adoption of real-time payments technologies, which enables credit union members to send and receive payments instantaneously, but is also regarded as irreversible to the speed of settlement.

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NAFCU CALENDAR ([link removed] )

JUNE

28
5 Ways You Can Help Older Members Avoid Fraud and Financial Exploitation ([link removed] )

Webinar

JULY

12
Future of Overdraft ([link removed] )

Complimentary Webinar

JULY

13
CU Research Survey Due ([link removed] )

Topic: Data Privacy and Member Service

JULY

19
ACH 201 Bootcamp ([link removed] )

Webinar

VendorDirectoryAd_Consulting ([link removed] )

NAFCU Regulatory Compliance School On-Demand ([link removed] )

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

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