Also: NAFCU urges NCUA to return excess operating cash back to CUs

July 21, 2022

Senators urge CFPB to expand Regulation E ([link removed] )

A group of six Democrat Senators yesterday wrote to CFPB Director Rohit Chopra in response to recent media reports that the Bureau is considering issuing additional guidance to expand Regulation E, which would seek to ensure financial depository institutions cover losses from consumer transactions that are a result of scam, a direct expansion of the current regulation that requires depository institutions to cover losses for consumer transactions as they relate to fraud.

Berger: NCUA should return excess operating cash from 2021 back to CUs ([link removed] )

Ahead of the NCUA Board meeting today where staff will brief the board on the 2022 mid-session budget, NAFCU’s President and CEO Dan Berger recommended the agency “continue to work to find cost-saving efficiencies while ensuring sufficient resources are devoted toward the programs that will best assist credit unions in serving their members and communities.”

House E&C Committee passes NAFCU-sought SECURE Act, NAFCU-opposed ADPPA during markup ([link removed] )

The House Energy and Commerce Committee passed the NAFCU-backed SECURE Notarization Act by a vote of 56-0 during their hybrid markup Wednesday. The legislation, which provides businesses and consumers the ability to execute critical documents using two-way audiovisual communication, will now move on to be voted on the House floor.

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NAFCU’s CFO Summit is on September 20 – 22 in Annapolis, MD. You’ll find solutions to your biggest challenges as CFOs and earn 13.50 CPE credits.

View Agenda ([link removed] )

FHFA Director discusses GSEs, climate change risks, more during oversight hearing ([link removed] )

​​​​​​​The House Financial Services Committee Wednesday held a hearing to provide oversight of the Federal Housing Finance Agency (FHFA) with Director Sandra Thompson as witness. Thompson shared updates on FHFA programs and initiatives and how the agency is working to promote an equitable housing finance system.

Existing home sales fall for fifth straight month in June ([link removed] )

Existing home sales fell at an accelerated rate of 5.4 percent in June to a seasonally-adjusted annualized rate of 5.12 million units. This represents a 14.2 percent decrease in sales compared to last year. NAFCU Chief Economist and Vice President of Research Curt Long analyzes the data in the latest Macro Data Flash report.

New on the Compliance Blog: CFPB updates CUs should know ([link removed] )

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.

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NAFCU CALENDAR ([link removed] )

JULY

22
FinCEN - No-Action Letter Process ([link removed] )

Comments Due to NAFCU

JULY

22
CFPB - Credit Card Late Fees and Late Payments ([link removed] )

Comments Due to NAFCU

JULY

25
Department of the Treasury - Ensuring Responsible Development of Digital Assets ([link removed] )

Comments Due to NAFCU

JULY

28
Supply Chain Risk Management (SCRM) - The Essential Steps to Building an Effective Practic ([link removed] )

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NAFCU's Congressional Caucus ([link removed] )

Join us at the premier credit union lobbying event of the year. Don’t miss this opportunity to advocate for your members on Capitol Hill and tell lawmakers your story. View agenda ([link removed] ) .

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