NAFCU President and CEO Dan Berger Wednesday wrote to the CFPB to highlight new requests regarding Regulation E and the prospect of future guidance on this topic from the bureau. Berger noted that recent reports, which suggest the CFPB may expand liability under Regulation E to further encompass fraudulently induced transfers initiated by a consumer, are “deeply concerning.”
The Federal Open Market Committee (FOMC) Wednesday released minutes from its July meeting, in which participants judged that inflation would respond to monetary policy tightening but would likely stay uncomfortably high for some time.
Total retail sales stayed flat in July following an increase of 0.8 percent in June. 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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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.
