Also: Rep. Fitzgerald introduces bill to hold CFPB accountable; NCUA, FinCEN issue updates, guidance

March 27, 2023

This week: NAFCU set to testify on CFPB 1071 rule implications ([link removed] )

Mike Wilson, chief experience officer of Members 1st Federal Credit Union (Enola, Pa.), is set to testify on behalf of NAFCU on Capitol Hill tomorrow to share with lawmakers the impact of the CFPB’s section 1071 rulemaking efforts on credit unions. NAFCU has consistently raised concerns about the compliance burdens credit unions will face under the small business lending data collection rule, as well as potential negative impacts on relationship banking.

NAFCU-supported CFPB accountability bill introduced in House ([link removed] )

Rep. Scott Fitzgerald, R-Wis., introduced the NAFCU-supported Making CFPB Accountable to Small Business Act that would require the CFPB to tailor its regulations for small businesses undergoing Small Business Regulatory Enforcement Fairness Act (SBREFA) panel reviews.

NCUA updates simplified CECL tool; FinCEN issues initial BOI guidance ([link removed] )

The NCUA last week announced the latest update to its simplified current expected credit losses (CECL) tool. According to the agency, the update includes incorporation of each credit union’s December net charge-offs in its average three-year net charge-off rates, an adjustment of Weighted Average Remaining Maturity factors for recent trends, and minor technical updates.

NAFCU’s Annual Conference: Engage 2023 ([link removed] )

Special Offer

You’ll explore the future of financial services, the changing consumer behavior in today’s unique market, the evolution of the workforce, technology trends shaping CUs and more. Save $400.00 per person when you register at least 4 “new” attendees with code GROUP400 by 3/31/23. (That’s at least $1,600.00 in savings!)

VIEW AGENDA ([link removed] )

CUs: Submit feedback on data broker practices ([link removed] )

NAFCU sent members a Regulatory Alert Friday detailing the CFPB’s request for information (RFI) to better understand data broker business practices – including those that contribute to consumer harms or abuses – and soliciting credit union feedback to inform the association’s comments on the topic.

CUs learn top-notch ways to succeed at NAFCU’s Strategic Growth Conference ([link removed] )

NAFCU wrapped up its second sold-out event of the year last week where attendees mastered strategies to innovate and drive credit union growth. During NAFCU’s Strategic Growth Conference, held in Nashville, industry experts shared the latest emerging consumer trends in 2023 and how those trends will influence credit unions in both the near and long term.

Glia NT Ad_5.23 ([link removed] )

Elevate your credit union’s story.

Share it with #NAFCUNation

([link removed] ) HTML tutorial ([link removed] )

NAFCU CALENDAR ([link removed] )

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

MAR

31
NCUA - Temporary Regulatory Relief in Response to COVID-19 – Prompt Corrective Action ([link removed] )

Compliance Deadline

APR

12
CU Research Survey Due ([link removed] )

Topic: Lending

Derby City. The Gateway to the South. River City. ([link removed] )

Louisville, KY has it all PLUS BSA School ([link removed] ) August 15 – 17, 2023. You’ll get a solid foundation of core BSA knowledge, and you can earn your NAFCU Certified Bank Secrecy Officer (NCBSO) ([link removed] ) credential when you pass the exams.

View Agenda ([link removed] )

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