The House and Senate are in session this week, with work continuing on the National Defense Authorization Act (NDAA) after a tentative deal was reached last week. NAFCU continues to advocate for a 2023 NDAA that’s free of any provisions that could place new burdens on credit unions, including the Credit Card Competition Act (CCCA) and expanded NCUA authority over third-party vendors.
NAFCU Regulatory Affairs Counsel James Akin wrote to the NCUA Friday in response to its proposed rule to make changes to member expulsion procedures bylaws of federal credit unions (FCUs), which implements changes made by the NAFCU-sought Credit Union Governance Modernization Act (CUGMA).
Friday, NAFCU, and other financial trade groups, wrote to the Senate and House Small Business Committees to express “serious concerns” regarding the Small Business Administration’s (SBA) recent proposed Small Business Lending Company (SBLC) moratorium rescission and proposed rule regarding affiliation and lending criteria for the SBA business loan programs. The groups wrote that the regulatory proposals are “major” and create “a detrimental shift in the 7(a) lending program. Both propose removal or modification of long-existing prudent lending standards which have ensured programmatic integrity for decades.”
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The Bureau of Labor Statistics issued the November jobs report Friday, which revealed that the unemployment rate remained at 3.7 percent during the month. NAFCU Chief Economist and Vice President of Research Curt Long analyzed the report in a new NAFCU Macro Data Flash report.
In November, midterm elections revealed who will serve in the 118th Congress. Meanwhile, the current Congress still has several key pieces of legislation to pass this lame duck session – including the National Defense Authorization Act (NDAA) and a government funding bill. As discussions on these legislative priorities continue, NAFCU is advocating for the passage of a “clean” NDAA.
As credit unions plan for training and professional development opportunities in the new year, NAFCU is offering $300 savings on registrations for all 2023 conferences and online training subscriptions with code HOLIDAY. Credit unions can save through Jan. 6, 2023; the code can be used as many times and for as many people as needed.
You hunger to make your CU the best. Training is the key. Save on all NAFCU Conferences and online training subscriptions.Save $300.00 through 1/6/23 with code HOLIDAY. You can use the code as many times, and for as many people, as you want!
