Total vehicle sales rose from 12.7 million annualized units in May to 13 million annualized units in June, with monthly sales levels down 16 percent year-over-year. NAFCU Chief Economist and Vice President of Research [...]
Members of Congress are back home in their states and districts this week for the Fourth of July holiday after several eventful hearings and legislative advancements over the last few weeks. NAFCU is gearing up [...]
Protecting the credit union system is one of the core goals of the National Credit Union Administration (NCUA), but Chairman Todd M. Harper wants credit unions to know that the NCUA is more than just [...]
The NCUA Thursday announced a technical change to the way multiple common bond federal credit unions (FCUs) designate geographic boundaries when applying to serve an underserved area. Effective immediately, those submitting underserved area applications can [...]
As leaders, we frequently face problems that approach suddenly and unexpectedly. In my time over the years, I’ve learned to expect the unexpected, and to always have a plan ready for any potential problem [...]
The CFPB Wednesday issued an advisory opinion affirming that federal law often prohibits debt collectors from charging “pay-to-pay” or “convenience” fees, which are imposed on consumers who want to make a payment in a specific [...]
The Federal Reserve Board announced Monday the final timeline and implementation details for the adoption of a new Fedwire Funds Service message format, ISO 20022. The final details are similar to the proposal issued last [...]
In January, we published a “New Year’s Resolutions” series, on the rulemaking agendas of FinCEN, the CFPB, and NCUA. Earlier this week, the agencies published their Spring 2022 Rulemaking Agendas, which we can think [...]
NAFCU Friday sent members a Regulatory Alert regarding the CFPB’s request for information (RFI) soliciting comment on how consumers can assert the right to obtain timely responses to requests for information about their accounts [...]
New home sales grew 10.7 percent in May to 696,000 annualized units, while April saw an upward revision of 38,000 units. Compared to last year, May sales were 5.9 percent lower. [...]
A federal credit union (FCU) member has a right to inspect the books and records of a FCU so long as the member has a “proper purpose for obtaining the records.” While Article XVI, Section [...]
This week, Federal Reserve Chair Jerome Powell testified before the Senate Banking Committee on Wednesday and House Financial Services Committee on Thursday as part of the Fed's Semiannual Monetary Policy Report to Congress. During both [...]
As leaders, we learn to expect the unexpected. As life happens and new obstacles present themselves, we have to learn to assess, adapt, and reassess. However, this takes time and practice. When we learn that [...]
The House Financial Services Committee pulled the NAFCU-opposed Overdraft Protection Act during its rescheduled markup Wednesday. NAFCU has long advocated against the bill, as it would significantly limit overdraft protection programs and the ability to [...]
NAFCU Vice President of Legislative Affairs Brad Thaler Tuesday wrote to the Senate Banking Committee ahead of its hearing to examine the Federal Reserve’s Semiannual Monetary Policy Report to Congress, released earlier this month. [...]
