Also: New Monitor reveals consequences of credit card late fees proposal; Berger talks bank failures on SiriusXM

March 24, 2023

Appeals court says CFPB’s funding is constitutional ([link removed] )

The U.S. Court of Appeals for the Second Circuit issued a decision Thursday in which it says the CFPB’s funding structure is constitutional as it was authorized by Congress and is bound by specific statutory provisions – therefore not offending the appropriations clause.

New Monitor highlights consequences of credit card late fees proposal ([link removed] )

NAFCU's latest Economic & CU Monitor – now available for download – reveals that the CFPB’s proposal to drastically reduce the credit card late fee safe harbor to $8 would have far-reaching consequences, including that 76 percent of respondents would be forced to charge a higher interest rate on credit cards.

ICYMI: Berger talks bank failures, strength of CUs on SiriusXM ([link removed] )

NAFCU President and CEO Dan Berger joined Wharton Business Daily host Dan Loney on SiriusXM yesterday morning to discuss the recent bank failures as well as the strength of the credit union industry.

Get the essential CU knowledge and training you need! ([link removed] )

Our online training subscriptions ([link removed] ) have industry experts covering the hottest topics in a fast, convenient way. Plus, they allow your entire credit union staff access to online training 24/7/365. 

SUBSCRIBE TODAY ([link removed] )

5 things to know this week ([link removed] )

NAFCU's widely read NAFCU Today is credit union leaders' go-to source for the latest on issues impacting the credit union industry. For those short on time, here's a roundup of this week's top need-to-know updates and resources.

NAFCU writes to FHFA on seasoned bulk transactions; agency seeks input on new credit score requirements ([link removed] )

NAFCU Senior Regulatory Affairs Counsel Aminah Moore wrote to the Federal Housing Finance Agency (FHFA) to request that the agency reinstate seasoned bulk transactions through Fannie Mae and Freddie Mac, the government-sponsored enterprises (GSEs). Moore noted that access to liquidity has come to the forefront with rising interest rates along with the recent bank failures; selling residential mortgages “has been an effective way for credit unions to generate liquidity.”

New homes sales rise again in February ([link removed] )

New home sales increased 1.1 percent in February to 640,000 annualized units, while sales in January were revised down 37,000 units. Compared to last year, February sales were down 10 percent. NAFCU Chief Economist and Vice President of Research Curt Long analyzed the data in the latest Macro Data Flash report.

Engage22_Skyscraper_Group400 ([link removed] )

NAFCU CALENDAR ([link removed] )

MAR

24
CFPB - Request for Information Regarding Consumer Credit Card Market ([link removed] )

Comments Due to NAFCU

MAR

28
A Deep Dive into FedNow Service Features and 24/7/365 Operations ([link removed] )

Complimentary Webinar

MAR

28
SECURE 2.0: Creating a New Retirement Plan Foundation ([link removed] )

Complimentary Webinar

MAR

30
Hold, Please: TCPA and State Law Compliance After Autodialers ([link removed] )

Webinar

C-level Executives, Vice Presidents, Risk, Audit, & Senior Compliance Staff:

Attend NAFCU’s Risk Management Seminar ([link removed] ) to prepare for the most severe internal and external threats facing your CU. Plus, earn your NAFCU Certified Risk Manager (NCRM) ([link removed] ) credential when you pass the exam -- or recertify just by attending (no exam required).

Save $200.00 with code RISKSAVINGS ([link removed] )

JOIN THE CONVERSATION:

LinkedIn ([link removed] )

Facebook ([link removed] )

Twitter ([link removed] )

YouTube ([link removed] )

Website ([link removed] )

NAFCU. 3138 10th St N Arlington, Virginia 22201

You received this message because you are subscribed to NAFCU emails.

Update your email preferences ([link removed] ) to choose the types of emails you receive.

Received this message from a colleague? Provide your contact information to start receiving our emails ([link removed] ) .

Unsubscribe from all future emails ([link removed] ) .