Inflation was ‘hotter than expected’ says NAFCU Chief Economist

On a seasonally-adjusted basis, overall consumer prices rose 1.3 percent in June, with the Bureau of Labor Statistics reporting that the overall consumer price index (CPI) grew by 9 percent year-over-year. NAFCU Chief Economist and Vice President of Research Curt Long analyzed the data in a new Macro Data Flash report.

NAFCU weighs in on amendments as the House considers NDAA

NAFCU’s Senior Vice President of Government Affairs Greg Mesack wrote to the House of Representatives to share the Association’s thoughts on several amendments made in order as part of the chamber’s consideration of H.R. 7900, the FY 2023 National Defense Authorization Act (NDAA). Mesack expressed NAFCU’s support for the Secure and Fair Enforcement (SAFE) Banking Act, The Fair Hiring in Banking Act; and an extension of Central Liquidity Facility (CLF) enhancements first granted under the CARES Act. He also reiterated the Association’s opposition to an amendment which would grant NCUA authority to examine credit union vendors.

NAFCU, Rep. Buchanan meet to discuss credit union industry issues

NAFCU President and CEO Dan Berger Wednesday met with Rep. Vern Buchanan, R-Fla., to discuss the Community Development Financial Institution (CDFI) Fund in addition to several issues currently before the House Ways and Means Committee. NAFCU Senior Vice President of Government Affairs Greg Mesack and Associate Director of Legislative Affairs Lewis Plush were also in attendance.

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Fed’s Beige Book reveals growing signs of a slowdown in demand, concerns over recession risk

The Federal Reserve released its latest Beige Book Wednesday, which revealed that economic activity expanded at a modest pace since mid-May, however Fed contacts in several Districts reported growing signs of a slowdown in demand. Of note, contacts in five Districts noted concerns over an increased risk of a recession. 

New on the Compliance Blog: Customer types, CFPB AO on FCRA and permissible purpose

As credit unions work to meet the needs of more than 131 million Americans, NAFCU's award-winning regulatory compliance team continues to keep credit unions informed with new posts on the Compliance Blog, published every Monday and Wednesday.