NAFCU President and CEO Dan Berger Wednesday held a meeting with NCUA Board Member Rodney Hood to discuss multiple topics of interest to credit unions ahead of the agency’s board meeting today.
Legislation to protect consumers and their financial institutions from IRS overreach and a burdensome reporting regime has been introduced in both the Senate and House. Sens. Tim Scott, R-S.C., and Mike Crapo, R-Idaho, and Rep. Drew Ferguson, R-Ga., introduced the bills, respectively.
The NCUA Board will meet later today to discuss key issues for credit unions and is set to finalize its rule on cyber incident notification requirements. The proposed rule would establish a 72-hour period for federal credit unions to provide notice to the NCUA of a reportable cyber incident.
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NAFCU joined with several other organizations Wednesday to file an amicus brief with the U.S. Court of Appeals for the Eleventh Circuit arguing that the Fair Credit Reporting Act (FCRA) requires furnishers and consumer reporting agencies (CRAs) to investigate factual inaccuracies, not legal disputes. The brief is in response to one filed by the CFPB in December that argues data furnishers and CRAs should investigate legal disputes in addition to factual disputes.
In a new post on NAFCU’s Compliance, Risk, & BSA Network, Senior Regulatory Affairs Counsel Aminah Moore provides information on the recently opened nominations for the Financial Crimes Enforcement Network’s (FinCEN) Bank Secrecy Act Advisory Group (BSAAG).
As credit unions work to meet the needs of more than 134 million Americans, NAFCU's award-winning regulatory compliance team continues to keep credit unions informed with new posts on the Compliance Blog every Monday and Wednesday.
Total retail sales increased 2.9 percent in January after falling 1.1 percent in December. NAFCU Economist Noah Yosif analyzed the report in a new NAFCU Macro Data Flash report.
