Over the weekend, Democrat Sens. Mark Kelly (Ariz.) and Catherine Cortez Masto (Nev.) won re-election, giving Democrats control of the Senate, regardless of the results of the Georgia runoff election Dec. 6; however, control of the House remains in limbo while votes are still being counted in some races. Meanwhile, Congress has returned for the lame-duck session and the association will track tomorrow’s Senate Banking Committee’s oversight hearing – happening at 10 a.m. Eastern – where NCUA Chairman Todd Harper will testify alongside other financial services agency leaders. The House Financial Services Committee will hold a similar oversight hearing on Wednesday.
The NCUA Board meets Thursday and will receive a quarterly briefing on the Share Insurance Fund (SIF). NAFCU Chief Economist and Vice President of Research Curt Long, in response to the agency’s 2023-2024 proposed budget, has reiterated the need to preserve the strength of the SIF without overburdening credit unions with exorbitant operating fees.
On a seasonally-adjusted basis, overall consumer prices rose 0.4 percent in October, with the Bureau of Labor Statistics reporting that the overall consumer price index (CPI) grew 7.8 percent year-over-year. NAFCU Chief Economist and Vice President of Research Curt Long analyzed the data in a new Macro Data Flash report.
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NAFCU concluded its sold out 2022 Lending Conference last week in Greenville, S.C. Attendees gained the latest insights on lending trends, best practices, and strategies to achieve help credit unions strengthen their lending portfolio and achieve success. This year’s conference offered enhanced networking opportunities where attendees connected and built relationships with their peers from across the country through roundtable discussions, split by asset sizes, and by driving the content through live polling.
