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.
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.
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.
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!)
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.
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.
Louisville, KY has it all PLUS BSA School 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) credential when you pass the exams.
