The House Thursday passed a package of bills en bloc that included the NAFCU-backed Credit Union Board Modernization Act by a 296-127 vote. The bill was introduced in March by Reps. Juan Vargas, D-Calif., and Anthony Gonzalez, R-Ohio.
The NCUA Thursday released its proposed budget for 2023 and 2024, released its proposed budget for 2023 and 2024, with combined estimates for 2023 totaling $367 million,, 8.1 percent higher than the comparable level funded by the NCUA Board for 2022. The proposed operating budget estimates $350.8 million which is a $30.7 million, or 9.6 percent, increase. The agency will hold a public budget briefing on Wednesday, Oct. 19.
The Senate Thursday passed legislation to provide funding for federal agencies through Dec. 16 by a vote of 72-25. The stopgap spending bill now heads to the House, where members of Congress must act on it today and send the bill to President Joe Biden’s desk before the midnight deadline to avoid a shutdown.
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NAFCU President and CEO Dan Berger wrote to Federal Reserve Board Governor Michelle Bowman regarding her Wednesday speech discussing competition in financial services. In the letter, Berger highlighted that “NAFCU wholeheartedly agrees that credit unions play a unique and competitive role in the marketplace,” but explained that they are more heavily regulated than community banks in several important respects.
Fannie Mae Thursday announced that it has appointed Priscilla Almodovar as CEO and member of the Board of Directors, starting December 5, 2022. Almodovar will succeed David Benson who has been serving as interim CEO; Benson will continue his role as President.
NAFCU's widely read NAFCU Today is credit union leaders' go-to source for the latest on issues impacting the credit union industry. For those short on time, here's a roundup of this week's top need-to-know updates and resources.
The NAFCU Housing Finance Working Group held a meeting Thursday where member credit unions and NAFCU staff reviewed the latest legislative and regulatory updates regarding the housing finance system.
NAFCU sent members a Regulatory Alert Thursday to break down the NCUA’s proposed rule to make changes to member expulsion procedures bylaws of federal credit unions (FCUs).
Get compliance guidance! View our latest Compliance Roadmap manual The latest edition of the NAFCU Compliance Roadmap (formerly GPS) breaks down ALL the major regulations affecting credit unions (including Reg F!). Get all the compliance information you need in one location!
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