Also: SCOTUS to review TCPA exception's constitutionality; Marijuana banking, risks explored during webinar today



NAFCU TODAY | The News You Need Daily.

January 14, 2020



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Another jury says Wells Fargo infringed on RDC patents [ [link removed] ]
The Texas jury in a second lawsuit brought by USAA against Wells Fargo also determined that Wells Fargo had willfully infringed on USAA's remote deposit capture (RDC) technology patents. The first lawsuit – with a different jury – resulted in $200 million in damages; this most recent decision orders Wells Fargo to pay an additional $103 million in damages.


SCOTUS to consider constitutionality of TCPA provision [ [link removed] ]
The U.S. Supreme Court Friday granted a petition to review a lawsuit challenging the constitutionality of the government-backed debt collection exception of the Telephone Consumer Protection Act (TCPA). Under the exception, calls intended to collect a debt owed to or guaranteed by the U.S. are exempt from the TCPA.


Marijuana banking, risks focus of webinar today [ [link removed] ]
Marijuana-related businesses (MRBs) and the risks associated with providing them financial services are the focus of today’s webinar moderated by Kaley Schafer, NAFCU’s regulatory affairs counsel. The webinar aims to provide a baseline understanding of how to analyze the risks involved in servicing MRBs and will recommend best practices for setting up a cannabis banking program. Understanding how technology can increase compliance will also be discussed.






Oral arguments set for challenge to FCUs' ability to file suit in federal court [ [link removed] ]
Oral arguments have been set for March 17-20 in Navy Federal Credit Union's appeal of a lower-court decision that determined the credit union did not have diversity jurisdiction to file a federal lawsuit. NAFCU in May filed an amicus brief in support of Navy Federal.


NAFCU priorities, NCUA and CFPB updates on NAFCU committee agenda [ [link removed] ]
NAFCU today will update members of its Regulatory Committee on proposed rulemakings currently open for comment from the NCUA, CFPB, and other agencies, as well as provide an overview of NAFCU’s 2020 advocacy priorities.


House passes NAFCU-supported bills related to NCUA transparency, MDIs [ [link removed] ]
The House Monday passed three NAFCU-supported bills, two of which are intended to increase transparency at federal financial regulators – including the NCUA – and another one that provides support for minority depository institutions (MDIs). They now head to the Senate for consideration.



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