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December 29, 2023 at 12:11 PM

America’s Credit Unions prepares to launch

Also: Offices closed Monday for New Year’s Day December 29, 2023 America’s Credit Unions prepares for launch ([link removed] ) The merger of CUNA and NAFCU culminates next week with the official launch of America’s Credit Unions. This transformation is to provide the credit union industry a…

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December 28, 2023 at 12:06 PM

Compliance Blogs tackle CDFI fair lending, Reg E consent

Also: See where FedNow stands 6 months after launch December 28, 2023 New on the Compliance Blog: CDFI fair lending requirements, car sales, Reg E consent ([link removed] ) As credit unions work to meet the needs of nearly 140 million Americans, NAFCU's award-winning regulatory compliance t…

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December 27, 2023 at 12:11 PM

NAFCU offers support for simplification of share insurance rules

Also: New ECU Monitor details changes in recent NCUA exams December 27, 2023 NAFCU writes to NCUA on simplification of share insurance rules ([link removed] ) NAFCU Senior Regulatory Affairs Counsel James Akin wrote to the NCUA Tuesday regarding the agency’s proposed amendments for regulat…

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December 26, 2023 at 12:12 PM

Nussle announces executive leadership team for America’s Credit Unions

Also: Compliance Monitor reviews 2023 reg compliance landscape; Agencies issue joint statement on BOI rule December 26, 2023 Nussle announces executive leadership team for America’s Credit Unions ([link removed] ) Jim Nussle, who will lead America’s Credit Unions when the new association is…

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December 21, 2023 at 12:07 PM

Otsuka confirmed to NCUA Board

Also: Mesack urges fiscal responsibility by NCUA in new op-ed; Berger, Petros tackle leadership, industry issues in latest CUPP December 21, 2023 Senate confirms Otsuka to NCUA Board ([link removed] ) The Senate Wednesday confirmed Tanya Otsuka to the NCUA Board by voice vote. NAFCU Senior …

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December 20, 2023 at 12:11 PM

CFPB issues report on overdraft, NSF fees

Also: NAFCU, CUNA send debit interchange survey, join other trades in opposing rate cap bill December 20, 2023 CFPB releases report on overdraft, nonsufficient funds ([link removed] ) The CFPB Tuesday released a report on overdraft and nonsufficient fund (NSF) fees. The data for the report …

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December 19, 2023 at 12:11 PM

CFPB raises HMDA, Reg Z thresholds for 2024

Also: NCUA to host webinar on diversity self-assessment Jan. 3 December 19, 2023 CFPB raises HMDA, Reg Z thresholds for 2024 ([link removed] ) The CFPB has finalized annual changes to the asset-size exemption thresholds under the Home Mortgage Disclosure Act (HMDA) and Regulation Z for 2024…

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December 18, 2023 at 12:06 PM

Lawmakers introduce bills on ILCs, UDAAP, rate caps

Also: New BSA Blast highlights BOI, Binance; NAFCU keeps CU priorities top of mind as 2023 legislative work wraps up December 18, 2023 Lawmakers introduce bills on ILCs, UDAAP, rate caps ([link removed] ) NAFCU and other financial services trade groups Friday sent a letter of support to Sen…

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December 15, 2023 at 12:11 PM

NCUA makes some NAFCU-sought changes in approved budget

Also: Interchange consequences detailed in new congressional report; NDAA ready for Biden’s signature December 15, 2023 NCUA Board approves 7 percent budget increase ([link removed] ) The NCUA Board held its December meeting Thursday, during which it unanimously approved the final budget fo…

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December 14, 2023 at 12:06 PM

NDAA heads to House after Senate passage

Also: NCUA Board set to finalize budget today; New CUPP featuring NCUA’s Hauptman tackles FOM December 14, 2023 Senate passes NDAA, moves to House ([link removed] ) The Senate passed the fiscal year 2024 National Defense Authorization Act (NDAA) Wednesday. The final legislation does not inc…

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December 13, 2023 at 12:11 PM

CUNA, NAFCU announce 2024 event lineup

Also: CUs review reg proposals open for comment; CPI stays on downward trend in November December 13, 2023 CUNA, NAFCU announce 2024 event lineup ([link removed] ) As members of CUNA and NAFCU last month approved the merger of the two organizations to form America’s Credit Unions, the assoc…

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December 12, 2023 at 12:11 PM

New post on NAFCU Networks explores fall rulemaking agendas

Also: FOMC begins 2-day meeting, Long expects committee to maintain rates December 12, 2023 ICYMI: NAFCU breaks down financial regulator rulemaking agendas for CUs ([link removed] ) In a new post on NAFCU’s Compliance, Risk, & BSA Network and ONES + CFPB Supervision Network, Vice President …

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December 11, 2023 at 12:08 PM

NAFCU monitoring NDAA, final meetings of 2023 for FOMC, NCUA

Also: NAFCU, CUs meet with Treasury on industry issues; November jobs report gives ‘mixed messages’ December 11, 2023 This week: Senate NDAA vote expected; NAFCU monitoring FOMC, NCUA meetings ([link removed] ) This week, the Senate is expected to vote on the compromised fiscal year 2024 Na…

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December 8, 2023 at 12:12 PM

CDFI Fund releases revised application after delay

Also: Final NDAA text released, set for vote in Senate next week; NCUA Board to finalize proposed budget Thursday December 8, 2023 Treasury announces updates to CDFI certification application ([link removed] ) The Treasury Department Thursday released a revised CDFI certification applicatio…

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December 7, 2023 at 12:07 PM

Berger, Mesack, Thaler among The Hill’s ‘top lobbyists’

Also: McCarthy announces resignation at end of year; New Compliance Blog covers FCRA credit score exception December 7, 2023 NAFCU’s Berger, Mesack, Thaler named top lobbyists by The Hill ([link removed] ) NAFCU President and CEO Dan Berger, Senior Vice President of Government Affairs Greg …

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December 6, 2023 at 12:11 PM

CU champion McHenry won’t seek reelection

Also: NAFCU responds to OMB memo on AI, touts CUs’ efforts in affordable housing ahead of hearing December 6, 2023 McHenry will not seek reelection ([link removed] ) House Financial Services Committee Chairman Patrick McHenry (R-N.C.) announced Tuesday he will not seek another term in next …

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December 5, 2023 at 12:11 PM

NAFCU, trades warn White House of CFPB’s ‘spotty’ rulemaking

Also: NAFCU, CUNA outline priorities for financial innovation ahead of hearing; Auto sales decline in November December 5, 2023 NAFCU, CUNA urge White House to discourage CFPB’s spotty regulation ([link removed] ) NAFCU and CUNA joined with several financial trade associations to call on Pr…

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December 4, 2023 at 12:06 PM

NAFCU monitoring NDAA effort, hearings on housing, fintech, big banks

Also: House sends resolution to block CFPB's 1071 rule to Biden; FedNow to host town hall next week December 4, 2023 This week: Final NDAA expected, congressional committees hold hearings ([link removed] ) This week, lawmakers are expected to file the compromised version of the fiscal year …

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December 1, 2023 at 12:12 PM

Mesack gives insights into top CU issues from November

Also: Status of NDAA, new Compliance Blogs, more to know this week; Registration for 2024 CEOs conference now open December 1, 2023 Watch: NAFCU’s Mesack provides need-to-know insights from November ([link removed] ) NAFCU Chief Economist and Vice President of Research Curt Long testified a…

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November 30, 2023 at 12:06 PM

NAFCU, CUNA urge House to pass resolution to block 1071 rule

Also: Mesack hits back at Fed’s interchange proposal in new op-ed; Lawmakers grill Chopra on CFPB’s reg approach November 30, 2023 CUNA, NAFCU urge House to pass resolution to block 1071 rule ([link removed] ) CUNA President and CEO Jim Nussle and NAFCU President and CEO Dan Berger wrote to…

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November 29, 2023 at 12:12 PM

Berger, Nussle outline CU priorities for CFPB

Also: NAFCU meets with FCC’s Gomez on TCPA concerns; CFPB fines BoA $12M for HMDA violations November 29, 2023 NAFCU, CUNA detail CU priorities, recommendations for CFPB reform ([link removed] ) NAFCU President and CEO Dan Berger and CUNA President and CEO Jim Nussle wrote to the House Fina…

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November 28, 2023 at 12:11 PM

FHFA finalizes changes to GSEs’ regulatory capital framework

Also: New home sales dip in October, existing home sales continue steady decline November 28, 2023 FHFA finalizes modifications to GSEs’ regulatory capital framework ([link removed] ) The Federal Housing Finance Agency (FHFA) last week published its final rule to amend several provisions in…

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November 27, 2023 at 12:08 PM

This week: NAFCU engaged as CFPB’s Chopra testifies on Hill

Also: NAFCU reiterates call for NCUA to justify budget, cut costs; FOMC minutes indicate potential for rate cut November 27, 2023 This week: CFPB provides semi-annual report to Congress ([link removed] ) Congress has returned from recess and will hold several hearings of note. NAFCU will cl…

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November 21, 2023 at 12:11 PM

NAFCU urges CFPB to go through proper process for FCRA rulemaking

Also: Fed releases 2024 pricing schedule; CFPB fines Toyota Motor Credit $60M November 21, 2023 NAFCU, trades call on CFPB to go through proper process for FCRA rulemaking ([link removed] ) In response to the CFPB’s release of an outline of proposals under consideration for the bureau’s rul…

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November 20, 2023 at 12:06 PM

NAFCU advocacy maintains focus on CU priorities

Also: NAFCU’s Long explores economic indicators, NCUA budget proposal in new video November 20, 2023 This week: Congress in recess, NAFCU focuses on CU priorities ([link removed] ) With Congress in recess until Nov. 28, NAFCU remains focused on various credit union priorities and encourages…

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November 17, 2023 at 12:12 PM

NAFCU’s Long testifies on ‘unsustainable’ NCUA budget increases

Also: NCUA Board finalizes NAFCU-sought change to ‘qualified charity’; CUs talk payments, economy with CFPB November 17, 2023 NAFCU’s Long testifies on ‘unsustainable’ NCUA budget increases ([link removed] ) The NCUA held a public hearing for its proposed 2024-2025 budget Thursday. For 2024…

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November 16, 2023 at 12:06 PM

Lawmakers pass CR to avert gov’t shutdown

Also: Board meeting, budget briefing on NCUA agenda today; New CUPP episode, Compliance Blog explore financial innovation rule November 16, 2023 Hill updates: Senate sends CR to Biden, lawmakers remind FI regulators of mission ([link removed] ) After the House Tuesday passed another continu…

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November 15, 2023 at 12:15 PM

America’s Credit Unions board leaders call on CUs to ‘embrace cooperative spirit’

Also: NAFCU, trades oppose petition to ban arbitration; NAFCU calls on senators to support MBL cap relief for veterans November 15, 2023 America’s Credit Unions board leaders call on CUs to ‘embrace cooperative spirit’ ([link removed] ) America’s Credit Unions Transition Board of Directors …

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November 14, 2023 at 12:12 PM

NAFCU, CUNA outline priorities for NCUA ahead of oversight hearing

Also: New Reg Alert details CFPB’s ‘larger participants’ proposal; Survey on NCUA exams due tomorrow November 14, 2023 NAFCU, CUNA write to SBC ahead of oversight hearing ([link removed] ) NAFCU and CUNA wrote to the Senate Banking Committee ahead of today’s oversight hearing of federal fin…

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November 13, 2023 at 12:06 PM

NAFCU engaged as Congress tackles gov’t funding, FI oversight

Also: NCUA set to issue final rule on charitable accounts, hold public hearing on 2024-2025 budget November 13, 2023 This week: Clock ticks down on gov’t funding; financial regulators testify ([link removed] ) The 45-day continuing resolution (CR) passed by Congress in September is set to e…

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November 9, 2023 at 12:07 PM

NAFCU outlines CU priorities as House preps vote on gov’t funding bill

Also: FHFA looks to return FHLBank system to mission; New Reg Alert details FinCEN’s proposal on CVC mixing November 9, 2023 NAFCU reiterates priorities ahead of House FSGG vote ([link removed] ) The House today is expected to take a final vote on its version of the fiscal year 2024 Financi…

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November 8, 2023 at 12:12 PM

CFPB heeds NAFCU call to increase big tech oversight

Also: NCUA Board nominee advances to full Senate; NAFCU outlines concerns, recommendations for DOL overtime rule November 8, 2023 Industry win: CFPB issues proposal to level playing field between fintechs, CUs ([link removed] ) The CFPB Tuesday issued a NAFCU-supported proposed rulemaking t…

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November 7, 2023 at 12:11 PM

Interchange, fraud, more discussed by NAFCU Board, Fed’s Bowman

Also: NAFCU releases Annual Report on CUs with insights into top issues; NAFCU, CUNA flag concerns with FCRA rulemaking November 7, 2023 NAFCU holds annual Fed meeting ([link removed] ) The NAFCU Board of Directors and senior association staff today met directly with Federal Reserve Governo…

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November 6, 2023 at 12:09 PM

This week: NAFCU meets with Fed to share CU insights

Also: CDFI Fund indicates FY24 funding round will open soon; October jobs report shows cooling November 6, 2023 This week: NAFCU meets with Fed ([link removed] ) The NAFCU Board of Directors and senior association staff today will share results of NAFCU’s annual Fed survey directly with Fed…

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November 3, 2023 at 11:11 AM

Merger approved: Historic vote sets up transformation to America’s Credit Unions

Also: New Reg Alert details Fed’s interchange proposal; Updates on gov’t funding, SBLC licensing, more November 3, 2023 Merger approved: Historic vote sets up transformation to America’s Credit Unions ([link removed] ) Members of CUNA and NAFCU have approved the associations’ merger into Am…

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November 2, 2023 at 11:06 AM

NAFCU to lawmakers: Provide critical MBL cap relief for veterans

Also: FOMC holds rates for 2nd consecutive meeting; NAFCU offers support for ‘harmonization’ of cyber regs November 2, 2023 NAFCU voices support for legislation to provide critical MBL cap relief for veterans ([link removed] ) NAFCU Vice President of Legislative Affairs Brad Thaler Wednesda…

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November 1, 2023 at 11:12 AM

New Compliance Monitor explores CFPB’s 1071 rule

Also: NCUA issues 1 prohibition notice in October November 1, 2023 Compliance Monitor explores CFPB’s small biz data collection rule ([link removed] ) The newest edition of NAFCU's Compliance Monitor – a member-only, digital compliance resource – features an in-depth article on new regulati…

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October 31, 2023 at 11:12 AM

Biden issues executive order on AI

Also: ECU Monitor includes 2025 forecast, insights into consumer finance survey; New Reg Alerts detail 1033, share insurance proposals October 31, 2023 Biden issues executive order on AI ([link removed] ) President Joe Biden Monday issued an executive order directing federal agencies to pur…

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October 30, 2023 at 11:10 AM

Mesack: CFPB is evading legal requirements

Also: NAFCU monitoring gov’t funding efforts, joins other trades in calling for extended comment period on CFPB's 1033 proposal October 30, 2023 Mesack: CFPB is evading its legal requirements ([link removed] ) NAFCU Senior Vice President of Government Affairs Greg Mesack, in a new op-ed for…

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October 27, 2023 at 11:11 AM

Court issues nationwide stay of 1071 rule

Also: Berger criticizes NCUA’s ‘unreasonable’ proposed budget increase; GDP sees ‘significant growth’ in Q3 October 27, 2023 Court issues nationwide stay of CFPB’s 1071 rule ([link removed] ) The U.S. District Court for the Southern District of Texas Thursday issued an order expanding its s…

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October 26, 2023 at 11:09 AM

Mesack: Fed’s interchange proposal ‘misguided’

Also: Nussle, Berger counter misleading survey from bankers; House elects Louisiana's Johnson as new Speaker October 26, 2023 Mesack says Fed’s interchange proposal is ‘misguided’ ([link removed] ) The Federal Reserve Board of Governors met Wednesday and issued a request for comment on prop…

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October 25, 2023 at 11:06 AM

NAFCU engaged as Fed meets on debit interchange changes

Also: NAFCU offers ways to support financial innovation ahead of hearing; Last chance to register for BSA School On-Demand October 25, 2023 Today: Fed meets on interchange ([link removed] ) The Federal Reserve Board of Governors will meet today on debit card interchange fees and routing und…

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October 24, 2023 at 11:11 AM

NAFCU details CUs’ robocall concerns ahead of hearing

Also: Fed report says banking sector ‘sound and resilient overall’; CDFI Fund opens applications for small dollar loan program October 24, 2023 NAFCU reiterates robocall concerns ahead of hearing ([link removed] ) NAFCU Vice President of Legislative Affairs Brad Thaler reiterated the associ…

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October 23, 2023 at 11:06 AM

NAFCU, trades caution Fed on debit interchange changes

Also: NAFCU kicks off MLI, monitoring several hearings this week; FinCEN proposes rule on CVC mixing October 23, 2023 NAFCU, trades caution Fed on merchants’ interchange motives ([link removed] ) NAFCU and several other financial services industry groups wrote Federal Reserve Chair Jerome P…

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October 20, 2023 at 11:12 AM

CFPB issues 1033 proposal on data rights

Also: NCUA Board moves forward with two proposed rules; Otsuka talks keeping CUs competitive during nomination hearing October 20, 2023 CFPB issues 1033 proposal on data rights, open banking ([link removed] ) The CFPB Thursday issued a proposed rule to implement section 1033 of the Dodd-Fra…

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October 19, 2023 at 11:10 AM

Senate votes to overturn CFPB’s small biz lending rule

Also: NAFCU, CUNA outline CU priorities ahead of NCUA nominee hearing; NCUA Board meets today October 19, 2023 Senate votes to block CFPB small biz data rule ([link removed] ) The Senate Wednesday passed a Congressional Review Act (CRA) resolution with bipartisan support aimed at blocking a…

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October 18, 2023 at 11:06 AM

NAFCU, CUNA, VACUL file amicus brief in payments fraud case

Also: CFPB’s Chopra joins NAFCU for town hall on key CU issues; CFPB fines Chime $3M for UDAAP, remittance violations October 18, 2023 NAFCU, CUNA, VACUL file amicus brief in payments fraud case ([link removed] ) NAFCU, CUNA, and the Virginia Credit Union League (VACUL) filed a joint amicus…

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October 17, 2023 at 11:12 AM

NAFCU member CUs to hear from CFPB’s Chopra today

Also: Senators raise concerns about FHFA’s credit report changes; NAFCU reiterates need for CDFI oversight October 17, 2023 Member-only town hall with CFPB Director Chopra today ([link removed] ) CFPB Director Rohit Chopra will join NAFCU President and CEO Dan Berger today for a virtual tow…

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October 16, 2023 at 11:14 AM

Berger, Nussle explain how banks get CU difference wrong

Also: This week features Chopra town hall, NCUA nominee hearing; NAFCU releases 2024 conference lineup October 16, 2023 Berger, Nussle: Banks continue to get CU difference wrong ([link removed] ) In response to another attack from bankers questioning the credit union industry’s tax exemptio…

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October 13, 2023 at 11:12 AM

NCUA Board to discuss rules on insurance, fair hiring

Also: TransUnion fined $23M by CFPB, FTC; NCUA Board nominee to testify before Senate committee next week October 13, 2023 NCUA Board to discuss rules on insurance, fair hiring ([link removed] ) The NCUA Board released the agenda ahead of its meeting next week. The board will discuss a noti…

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