Also: NAFCU shares concerns on providing NCUA with additional vendor authority

August 8, 2022

This week: House set to return for reconciliation package vote; NAFCU continues to advocate for CU priorities ([link removed] )

The Senate is set to head out for August recess this week after passing the Democratic budget reconciliation package in a 51-50 vote yesterday, with Vice President Kamala Harris casting the tie-breaking vote. With the Senate action, the House is scheduled to return to session from its August recess to vote on the package by the end of the week. While the Senate package did include funds for increased IRS enforcement, it did not include a NAFCU-opposed provision that would have required new account information reporting by financial institutions.

NAFCU shares concerns on bill providing NCUA with additional vendor authority ([link removed] )

NAFCU Senior Vice President of Government Affairs Greg Mesack Friday wrote to the Senate Banking, Housing, and Urban Affairs Committee to share the Association’s opposition and concerns regarding S.4698, the Improving Cybersecurity of Credit Unions Act, which would grant the NCUA additional authority to examine credit union service organizations (CUSOs) and other third-party vendors.

July jobs report reveals lowest unemployment rate in 50 years ([link removed] )

The Bureau of Labor Statistics issued the July Jobs Report on Friday, which revealed that the unemployment rate dropped to 3.5 percent in July, a fifty-year low. NAFCU Chief Economist and Vice President of Research Curt Long analyzed the report in a new NAFCU Macro Data Flash report.

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Advocate for your members on Capitol Hill. Have an impact on averting top political risks to your CU ([link removed] ) . Attend NAFCU’s Congressional Caucus this September!

View Agenda ([link removed] )

NAFCU shares recommendations on FinCEN’s NAL ANPR ([link removed] )

On Friday, NAFCU Senior Regulatory Affairs Counsel Aminah Moore submitted comments to the Financial Crimes Enforcement Network’s (FinCEN) advance notice of proposed rulemaking (ANPR) soliciting comments on the implementation of a no-action letter (NAL) process , which would be “a letter indicating [FinCEN’s] intention not to take or recommend enforcement action against the submitting party for the specific conduct presented in the submitting party’s request.”

Lending22_Skyscraper ([link removed] )

NAFCU CALENDAR ([link removed] )

AUG

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CFPB - Relationship Banking and Customer Service ([link removed] )

Comments Due to NAFCU

AUG

16 - 18
Virtual Risk Management Seminar ([link removed] )

A Virtual Event

AUG

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Federal Reserve - Regulation Implementing the Adjustable Interest Rate (LIBOR) Act ([link removed] )

Comments Due to NAFCU

AUG

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Credit Union Testimonial: How BCU is Accelerating Transformation & Expanding Financial Wellness with AI ([link removed] )

Complimentary Webinar

VendorDirectoryAd_Compliance-1 ([link removed] )

Become an even more effective and successful credit union leader ([link removed] )

View the agenda for NAFCU's Management and Leadership Institute. Register soon—this event sells out every year!

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National Association of Federally-Insured Credit Unions. 3138 10th St N Arlington, Virginia 22201

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