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.
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.
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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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.
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.
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.
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.
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.
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.
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