NAFCU-led
efforts help strip harmful nominal lease provision from final NDAA
Following months of forceful NAFCU advocacy, the final text of the fiscal year
2020 National Defense Authorization Act (NDAA) was released Monday night and it
does not include a harmful provision that would have treated banks the same as
a military installation's local, not-for-profit credit union when it comes to nominal leases.
Berger, Harper meet on exam issues
NAFCU President and CEO Dan Berger met yesterday with NCUA Board Member Todd Harper
to discuss various examination issues, including Harper's proposal to add
a consumer compliance examination program for large, complex credit unions.
NAFCU
to FCC: Clarify transmission of text messages under TCPA
NAFCU Regulatory
Affairs Counsel Mahlet Makonnen Monday urged the FCC to grant a petition related
to text messages transmitted through an automatic telephone dialing system (ATDS)
and issue a declaratory order to provide clarification.
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NAFCU
weighs in as House committee set to tackle MDIs, ATR, credit scores
The House Financial Services Committee is set to begin a markup of nine bills
today related to cybersecurity, mortgage access, student lending, credit scores,
and minority depository institutions. Ahead of the hearing, NAFCU's Brad
Thaler offered the association's support for some of the legislation and
provided credit unions' perspective on the issues.
No
rate change expected as FOMC begins final policy meeting of 2019
The
Federal Open Market Committee (FOMC) begins its two-day, monetary policy-setting
meeting today and is expected to release updated projections.
FLASH
sale: Two days to save on NAFCU webinars
NAFCU's flash sale kicks
off today, giving 50 percent savings on all association webinars. Credit unions
can use the code FLASH on as many webinars as they need, and one purchase provides
an entire credit union access to that webinar.
Consumer credit picks up in October
Total consumer credit rose 5.5 percent in October (seasonally-adjusted, annualized)
and is up 4.8 percent versus a year ago. NAFCU Chief Economist and Vice President
of Research Curt Long credited these results to continuous growth in the revolving credit sector, which grew 4.3 percent.
