EPA agrees with NAFCU: CUs eligible to receive GHGR Fund monies

Following months of NAFCU advocacy to secure credit unions’ ability to receive money from the Greenhouse Gas Reduction (GHGR) Fund, the Environmental Protection Agency (EPA) agreed with the association’s position and declined to solely disburse funds through a green national bank.

NAFCU offers ways to strengthen FinCEN’s BOI access, safeguards

NAFCU Senior Regulatory Affairs Counsel Aminah Moore wrote to the Financial Crimes Enforcement Network (FinCEN) in response to its notice of proposed rulemaking (NPRM) regarding beneficial ownership information (BOI) access and safeguards. The proposed rule would authorize certain recipients to receive BOI reported to FinCEN with the reporting company’s consent. While the letter expressed NAFCU’s support for the proposal, Moore also provided recommendations to the agency.

NCUA examiner reviews supervisory priorities with Reg Committee

Staff from NCUA’s Office of Examination and Insurance joined NAFCU’s Regulatory Committee meeting Tuesday to discuss the agency’s 2023 supervisory priorities, which were released earlier this year.

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Biden announces key changes to economic policy team

Yesterday, President Joe Biden announced staff changes for the White House’s top economic policy team. Federal Reserve Vice Chair Lael Brainard will resign from her post next week to lead the President’s National Economic Council (NEC), an influential policy office inside the West Wing. Biden also announced his nomination for longtime adviser Jared Bernstein to become the next chair of the Council of Economic Advisers.

CPI rises in January, clouds Fed’s inflation target rate

On a seasonally-adjusted basis, overall consumer prices rose 0.5 percent in January, with the Bureau of Labor Statistics reporting that the overall consumer price index (CPI) grew 6.3 percent year-over-year. NAFCU Chief Economist and Vice President of Research Curt Long analyzed the data in a new Macro Data Flash report.