NAFCU Senior Vice President of Government Affairs Greg Mesack, Vice President of Regulatory Affairs Ann Petros, Regulatory Affairs Counsel James Akin and Regulatory Affairs Counsel Dale Baker along with NAFCU member credit unions and representatives from third party service providers Wednesday met with NCUA's Office of Examination and Insurance (E&I) and Division of Capital and Credit Markets to discuss important topics for credit unions.
NAFCU Vice President of Regulatory Affairs Ann Petros wrote to the NCUA calling for greater flexibility when it comes to virtual meetings. In the letter, Petros said that “[t]he NCUA should remove the in-person quorum requirement in Section 5 of Article IV to allow credit unions the ability to hold annual member meetings, virtually, in-person, or in a hybrid format” based on the needs of the credit union.
The Treasury Department released a report Wednesday assessing the impact of fintechs in the financial services space. NAFCU met with the department earlier this year to share concerns about the lack of accountability and supervision of fintechs.
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NCUA Chairman Todd Harper testified before the House Financial Services Committee Wednesday providing updates on the NCUA’s efforts to maintain the safety and soundness of the credit union industry.
As credit unions work to meet the needs of more than 134 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.
Total retail sales jumped 1.3 percent in October following a month of no change in September. NAFCU Chief Economist and Vice President of Research Curt Long analyzed the report in a new NAFCU Macro Data Flash report.