NAFCU’s legislative team engaged on bank failures, small biz, interchange

NAFCU’s Legislative Affairs Team is active on Capitol Hill this week, monitoring discussions stemming from recent bank failures for potential impacts on credit unions and the broader financial system, as well as hearings with the Small Business Administration (SBA). The team provided an update to NAFCU members on these issues and more during the association’s Legislative Committee meeting Tuesday.

NCUA annual report underscores focus on economic, financial challenges 

The NCUA released its 2022 Annual Report Tuesday highlighting the agency’s top activities, policy initiatives, and key accomplishments from the previous year. The report showed a heavy focus on helping credit unions navigate the shifting economic landscape and associated financial challenges.

CFPB adds interest rate questions to credit card survey

The CFPB updated its survey of credit card issuers to provide consumers with more information related to interest rates. The bureau collects and publicizes credit card product data from the 25 largest issuers, as well as a sample of at least 125 additional issuers, in an effort to help consumers comparison shop and support competition within the credit card market.

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NAFCU Final Reg details NCUA amendments to subordinated debt rule

NAFCU yesterday sent a Final Regulation summary to members breaking down the NCUA’s final rule amending its rules governing subordinated debt and grandfathered secondary capital (GSC) to accommodate a longer maximum maturity.

Existing home sales rise, breaking year-long decline

Existing home sales rose 14.5 percent in February to a seasonally adjusted annual rate of 4.58 million units, breaking a 12-month decline streak and representing a 22.6 percent decrease compared to a year ago. NAFCU Chief Economist and Vice President of Research Curt Long analyzed the data in the latest Macro Data Flash report.