Sens. Cardin, Ernst share NAFCU’s concerns on SBA lending proposed rules

Senate Small Business and Entrepreneurship Committee Chairman Ben Cardin, D-Md., and Ranking Member Joni Ernst, R-Iowa, wrote to the Small Business Administration (SBA) this week to express major concerns on two proposed rules issued by the agency to change regulations governing SBA's 7(a) Loan Program and 504 Loan Program, and to allow fintech lenders to offer 7(a) loans.

Fed Chair Powell testifies, NAFCU writes to HFSC

The Senate Banking Committee (SBC) held the first of two hearings for the Federal Reserve’s semiannual monetary policy report yesterday. During the hearing, Fed Chairman Jerome Powell reiterated the central bank’s goal of lowering inflation to 2 percent and noted that inflation pressures, such as housing and supply chain issues, remain an issue. However, Powell said consumer spending has increased this quarter and the labor market remains strong.

Register now for NCUA webinar on loan risks

NCUA regional lending specialists will cover loan risks during a free webinar hosted by the agency March 22; credit unions can register for the event now on the NCUA’s website.

Bourbon, Barns, Bluegrass, and BSA School!

Deepen your understanding of BSA's anti-money laundering requirements and the regulations Credit Unions must comply with at NAFCU’s highly regarded BSA School in Louisville, Kentucky August 15 – 17, 2023. Save $200.00 with the code BSASAVINGS for a limited time. 

NAFCU committees discuss FedNow, SIF, more

Members of NAFCU’s Cybersecurity and Payments Committee and Share Insurance Fund (SIF) Committee held meetings Tuesday to discuss the regulatory landscape and NAFCU’s ongoing advocacy efforts related to these issues.