NAFCU Vice President of Legislative Affairs Brad Thaler sent a message to lawmakers on Capitol Hill Friday to “set the record straight on credit unions and the credit union difference” after a banking group made taxing credit unions one of its priorities for the 118th Congress, adding that “it is unfortunate” that this continues to occur.
House and Senate committees are kicking into gear this week now that Republicans and Democrats have finished assigning members to their respective panels. NAFCU will engage with lawmakers as they discuss financial services industry issues to keep credit union priorities top of mind.
The Bureau of Labor Statistics (BLS) issued the first 2023 jobs report Friday, which revealed that the unemployment rate fell to 3.4 percent in January – marking a new 50-year low unemployment rate. NAFCU Chief Economist and Vice President of Research Curt Long noted the report “smashed expectations” in a new NAFCU Macro Data Flash report.
The NCUA last week released a Regulatory Alert notifying credit unions that the Home Mortgage Disclosure Act (HMDA) threshold for reporting data on closed-end mortgage loans is now 25 loans in each of the two preceding calendar years. This comes after the U.S. District Court for the District of Columbia vacated a portion of the CFPB’s 2020 HMDA Final Rule, which had raised the reporting threshold to 100 loans.
Volunteer leaders will feel like they’re having a one-on-one conversation with author Anthony Demangone as he breaks down complex topics into easy-to-read language for new—and seasoned!—board members.
