From NAFCU Today <[email protected]>
Subject RDC lawsuit: Wells Fargo motions court to stay judgment
Date December 5, 2019 12:00 PM
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Also: Politico highlights NAFCU's new data privacy principles; Hood discusses key CU issues with lawmakers



NAFCU TODAY | The News You Need Daily.

December 5, 2019



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Wells Fargo asks court to stay RDC decision; appeal likely [ [link removed] ]
Wells Fargo this week filed a motion with the U.S. District Court for the Eastern District of Texas asking the court to stay the recent jury decision that found Wells Fargo intentionally infringed on USAA's remote deposit capture (RDC) patents and ordered Wells Fargo to pay $200 million in damages.


NAFCU's data privacy principles gain national attention as senators debate legislation [ [link removed] ]
As the Senate Commerce Committee Wednesday examined legislative proposals to protect consumer data privacy, NAFCU's newly published data privacy principles garnered national attention in Politico's Morning Money. NAFCU shared the principles with the committee ahead of the hearing.


CECL, serving communities in need discussed by Hood, FI regulators at hearing [ [link removed] ]
NCUA Chairman Rodney Hood and other financial regulators testified before the House Financial Services Committee Wednesday sharing insights into the safety and soundness of the U.S. financial system and how institutions are prioritizing diversity and inclusion in financial services.






NAFCU wants CUs protected as House passes bill targeting robocalls [ [link removed] ]
Lawmakers in the House Wednesday, in a 417-3 vote, passed legislation that would expand the Federal Communications Commission's (FCC) enforcement authority over violations of the Telephone Consumer Protection Act (TCPA) and require voice services providers to authenticate and block illegal robocalls.


Dec. 18 member call: What CUs need to know to close out the year [ [link removed] ]
From government funding status, to data privacy legislation, to litigation threats and more, NAFCU's Q4 Member Call-In happening Dec. 18 will provide credit unions with key updates to finish 2019 strong and be well-prepared for any potential changes coming in 2020.


How are CUs addressing BSA/AML compliance? [ [link removed] ]
NAFCU is currently seek insights into issues related to the Bank Secrecy Act (BSA)/anti-money laundering (AML) regime. Association-member credit unions can provide their feedback through the November Economic & CU Monitor survey; responses are due tomorrow.


SBA finalizes NAFCU-supported changes to bolster CUs' lending [ [link removed] ]
The Small Business Administration (SBA) finalized its rule to streamline and modernize its Certified Development Company (CDC) program corporate governance requirements. NAFCU offered its support for the changes, highlighting that the rule would bolster credit unions' 504 lending to members.


Vehicle sales remain 'stable' following November rebound [ [link removed] ]
Total vehicle sales increased to a rate of 17.1 million annualized units in November – regaining October's losses with the largest monthly increase since May.



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