NAFCU updates CUs on Washington’s response to bank failures

NAFCU Senior Vice President of Government Affairs Greg Mesack sent member credit unions an update on discussions and efforts underway in Washington, D.C., in response to recent bank failures.

FOMC opts to hike rates following bank failures

The Federal Open Market Committee (FOMC) concluded its March meeting yesterday, where the committee raised rates 25 basis points to a range of 4.75 to 5 percent – the ninth consecutive meeting ending with a hike. “The FOMC opted for a hike despite recent turmoil in the banking sector,” said NAFCU Chief Economist and Vice President of Research Curt Long after the meeting. “However, the committee did not raise its projected terminal fed funds rate and softened the tone of the statement regarding the likelihood of future rate hikes.”

Berger: Crypto is ‘Wild West’ in need of safeguards

In an op-ed published in CUInsight, NAFCU President and CEO Dan Berger flags the dangers of cryptocurrency without proper regulation and safeguards – “Cryptocurrency has become a nest for exploitation and has evaporated billions of consumers’ hard-earned dollars” – and reiterates the association’s call for a regulatory framework that maintains credit unions’ ability to compete on a level playing field.

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NAFCU Networks offer insights into illegal robocalls, lending

NAFCU Networks offer member credit unions and their staff a free online community to connect on industry trends, hot topics, concerns, and strategies. The Compliance, Risk & BSA Network has a new insight post on recent efforts from the Federal Communications Commission (FCC) to crackdown on illegal robocalls and robotexts. Additionally, the Lending Network announced a roundtable discussion happening next week.

New on the Compliance Blog: Advertising a ‘free’ account, share insurance basics

As credit unions work to meet the needs of more than 135 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.