NAFCU News Archives

October jobs report signals cooling labor market

October jobs report signals cooling labor market

New data from the Bureau of Labor Statistics revealed 150,000 jobs were added in October, while gains in September and August were revised down 39,000 and 62,000, respectively. NAFCU Chief Economist and [...]

Taking a leap of faith

Taking a leap of faith

There are many moments in life that take courage. That require you to be strong in the face of uncertainty. That ask you to take a leap of faith. This is the beginning of one [...]

NAFCU offers support for ‘harmonization’ of cyber regs

NAFCU offers support for ‘harmonization’ of cyber regs

NAFCU Senior Counsel for Research and Policy Andrew Morris sent a letter to Acting National Cyber Director Kemba Walden in support of “harmonization of cybersecurity regulations to reduce inconsistency and administrative burden for federally insured [...]

NCUA issues 1 prohibition notice in October

NCUA issues 1 prohibition notice in October

The NCUA issued one prohibition notice in October, prohibiting the individual previously associated with credit unions from any future participation in the affairs of a federally-insured depository institution. Violation of a prohibition order is a [...]

HELOC application and account opening disclosures

HELOC application and account opening disclosures

Happy November everyone! I hope you had a great Halloween. We’ve now entered my favorite two months of the year. Food, holidays, and sweaters, the perfect trifecta. What’s not always perfect? Disclosures. Today [...]

Biden issues executive order on AI

Biden issues executive order on AI

President Joe Biden Monday issued an executive order directing federal agencies to pursue new standards for artificial intelligence (AI) in support of safety and security, protecting Americans’ privacy, advancing equity and civil rights, promoting innovation [...]

NAFCU, CUNA ask NCUA to improve speaker request process

NAFCU, CUNA ask NCUA to improve speaker request process

NAFCU and CUNA wrote the NCUA Friday to recommend improvements to the agency’s request forms for board members and staff to participate in various speaking engagements. The NCUA is seeking approval from the Office [...]

Court issues nationwide stay of CFPB’s 1071 rule

Court issues nationwide stay of CFPB’s 1071 rule

The U.S. District Court for the Southern District of Texas Thursday issued an order expanding its suspension of the CFPB’s 1071 rule to apply to all financial institutions, including credit unions, covered by [...]

Embracing education is well worth the investment

Embracing education is well worth the investment

I have talked extensively about how leaders are made – not born – and how the springboard of success starts with a seed of motivation to learn. As one of our founding fathers and the face on [...]

CFPB’s Chopra on regulation: Because I say so

CFPB’s Chopra on regulation: Because I say so

Earlier this month, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion claiming large financial institutions cannot charge certain legal fees. Once again, the bureau side-stepped the Administrative Procedure Act (APA), avoided stakeholder input, [...]

NAFCU offers ways to support financial innovation ahead of hearing

NAFCU offers ways to support financial innovation ahead of hearing

Ahead of today’s House Financial Services subcommittee hearing on modernizing financial services through innovation and competition, NAFCU Senior Vice President of Government Affairs Greg Mesack outlined several considerations to limit regulatory burdens on credit [...]

CFPB continues to focus on fees

CFPB continues to focus on fees

If you’ve been following credit union compliance issues during the past 2 years, then you’ve no doubt heard about the effort by the Consumer Financial Protection Bureau (CFPB or bureau) to combat what [...]