NAFCU advocacy team shares CU priorities with new Congress

NAFCU’s advocacy team was on Capitol Hill Tuesday as the 118th Congress convened to talk with new and returning members about credit union priorities. Of note, the team met with a number of offices including Reps. Andy Barr, R-Ky., Josh Gottheimer, D-N.J., Madeleine Dean, D-Pa., Maxine Waters, D-Calif., Nydia Velázquez, D-N.Y., Andrew Garbarino, R-N.Y., and Young Kim, R-Calif, among others.

Banking regulators underscore crypto-asset risks

The Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and the Federal Reserve Tuesday issued a joint statement to banks highlighting the potential risks of participating in crypto-related activities. While the statement does not dissuade financial institutions from participating in such activities, it does reference the volatility of the cryptocurrency industry as seen in 2022, noting that recent events “highlight a number of key risks associated with crypto-assets and crypto-asset sector participants that banking organizations should be aware of.”

Now available: Flip through the January-February issue of The NAFCU Journal

The January-February issue of The NAFCU Journal is available now and includes a 2023 regulatory and legislative outlook, a deep dive into a recent rise in fraud, and more. Content from this issue can be viewed anytime on the magazine’s virtual hub. 

A HOLIDAY GIFT: $300.00 Savings on Training!

Let us help you grow professionally and take your CU to the next level. Save on all NAFCU Conferences and online training subscriptions. Use code HOLIDAY for $300.00 off – ends this Friday! 

NAFCU raises concerns to VA on home loan refinancing regs

NAFCU sent a letter to the Department of Veterans Affairs (VA) Tuesday outlining concerns with a proposed rule that could add unnecessary restrictions and raise home loan refinancing costs for veterans and credit unions.

CFPB issues report on consumer reporting companies

The CFPB issued its annual report on consumer complaints regarding Equifax, Experian, and TransUnion – the national consumer reporting companies. The bureau is required by the Fair Credit Reporting Act to submit an annual report on consumer complaints directed toward the companies.