Yesterday, the Senate Banking Committee held a hearing to discuss with regulators the Silicon Valley Bank (SVB) and Signature Bank collapses, which occurred earlier this month. Federal Deposit Insurance Corporation (FDIC) Chair Martin Gruenberg, Federal [...]
Happy Wednesday, Compliance Friends! It was nice seeing some of you a couple weeks ago at Compliance School! Recently I’ve received a couple questions regarding participation loans, so I figured it would be a [...]
NAFCU Vice President of Legislative Affairs Brad Thaler Monday submitted a letter to the Senate Banking Committee ahead of its hearing this morning to examine the Silicon Valley Bank and Signature Bank collapses. In the [...]
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 [...]
Sometimes, credit union professionals are presented with the issue of allocating credit card payments to an account with more than one balance. Once you receive the minimum payment from your member, where does the money [...]
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 [...]
Over the last few years, we have all become familiar with operating our businesses in highly uncertain environments. Continued murkiness surrounding the possibility of a recession, the release of sometimes-troubling monthly macroeconomic data, and the [...]
NAFCU Senior Vice President of Government Affairs Greg Mesack sent member credit unions an update on discussions and efforts underway in Washington, D.C., in response to recent bank failures. Of note, Federal Reserve Chairman [...]
The NCUA released its 2022 Annual Report Tuesday highlighting the agency’s top activities, policy initiatives, and key accomplishments from the previous year. The report showed a heavy focus on helping credit unions navigate the [...]
The failure of Silicon Valley Bank (SVB) and Signature Bank just over a week ago proved to be one of the biggest stories for the financial services industry in the past several years. Deposit insurance [...]
“Tombstone” is an iconic Western movie. The cinematography is excellent, and Val Kilmer’s Oscar-nominated performance made the film a hit - but the story told by the movie is rooted in truth. While the [...]
House Financial Services Committee Chairman Patrick McHenry, R-N.C., and Senate Banking Committee Ranking Member Tim Scott, R-S.C., wrote to Federal Reserve Chairman Jerome Powell Monday requesting that the Fed provide insights into its [...]
A group of bipartisan lawmakers led by Senate Housing, Transportation, and Community Development Subcommittee Chair Tina Smith, D-Minn., and Ranking Member Mike Rounds, R-S.D., last week introduced the CDFI Bond Guarantee Program Improvement Act. [...]
I spent all of last week in Arlington with my team and a ballroom full of compliance professionals at our 2023 Regulatory Compliance School. It was a great time, and I want to say a [...]
NAFCU, along with other trades, wrote to the CFPB Thursday to request the bureau publish the data and analysis it used to justify its credit card late fees proposal. The organizations noted that the bureau [...]
