Following an eventful week of meetings with credit unions during NAFCU’s 2022 Congressional Caucus, the House and Senate are in session with several key hearings happening this week. Both chambers are set to conduct oversight hearings on megabanks. U.S. Bancorp, PNC, JP Morgan, Bank of America, and Wells Fargo are among the listed witnesses.
On Friday, the White House released a comprehensive framework detailing responsible development of digital assets. The framework follows President Biden’s Digital Asset Executive Order and is the first government-wide approach to managing the risks and harnessing the benefits of digital assets.
NAFCU Friday joined the Defense Credit Union Council and CUNA in a letter to the Senate Armed Services Committee (SASC), calling for the removal of language in the SASC’s version of the fiscal year 2023 National Defense Authorization Act (NDAA) that would require the Department of Defense to brief the SASC on access to financial services on bases. In addition, the group reiterated the association’s longstanding opposition for efforts to allow all banks to operate rent-free on military bases.
Latest Compliance Resource for Compliance Professionals
Gain insight into all the major regulations in one convenient location with just one purchase of the NAFCU Compliance Roadmap for your entire CU!
Last week, NAFCU held its annual Congressional Caucus where lawmakers, key regulators, and industry experts addressed attendees on a wide arrange of topics impacting the credit union industry. Throughout the exciting, jam-packed, four-day event, credit unions, with the help of NAFCU staff, were able to set up meetings with lawmakers to share their thoughts on various policies.
