As NAFCU noted last week, the House passed a bill that, among other things, would permit federal credit unions to add underserved areas to their field of membership. The bill also adds "banking deserts” to [...]
The May 2022 consumer price index report revealed that inflation rose to its highest level since 1981. Immediately following this report, the Federal Open Market Committee raised the federal funds target rate by 75-basis points [...]
NAFCU’s State of the Industry will take place this Thursday, June 23, from 1:00 to 4:00 p.m. Eastern. This complimentary virtual event – open to all credit unions – will bring together industry [...]
The CFPB published a blog post Thursday regarding overdraft and non-sufficient fund (NSF) fees. The post describes the bureau’s supervisory efforts toward financial institutions “with a higher share of frequent over drafters or a [...]
As leaders, we tend to balance different voices of influence both inside our minds and from outside sources. As leaders, though, it is also our duty to be able to use these influences to help [...]
Total retail sales fell by 0.3 percent in May, following an increase of 0.7 percent in April and an increase of 1.2 percent in March. NAFCU Chief Economist and Vice President of [...]
NAFCU’s Regulatory Committee met Tuesday and discussed several proposals that are open for comment from federal financial regulators, including the NCUA, CFPB, the Financial Crimes Enforcement Network (FinCEN), and the Department of Commerce. Attendees [...]
June 2022 is now in full swing, which means the temperatures are heating up outside, people are having barbeques, and kids are beginning their summer vacations (including my six-year-old, who just finished kindergarten). It’s [...]
The Federal Open Market Committee (FOMC) - the Fed’s monetary-policy setting arm – begins its June meeting today and is expected to discuss several topics of interest to credit unions. Until recently, it was widely [...]
On a seasonally-adjusted basis, overall consumer prices rose 1 percent in May, with the Bureau of Labor Statistics reporting that the overall consumer price index (CPI) grew by 8.5 percent over the 12-month period. [...]
A few weeks ago, the Consumer Financial Protection Bureau (CFPB or bureau) issued Consumer Financial Protection Circular 2022-03 to remind creditors of their obligations under the Equal Credit Opportunity Act (ECOA) and Regulation B regarding [...]
Total consumer credit rose 10.1 percent, at a seasonally adjusted, annualized rate, in April and is up 7.5 percent compared to a year ago. Revolving credit - primarily credit cards - rose 19.[...]
As leaders, it’s necessary to recognize how your employees respond to crises, and how they react when a customer or member have an issue they can fix. Do they work to see if the [...]
The Senate Wednesday confirmed Todd Harper to serve a full term as NCUA Board Chairman, in a 59 - 40 vote. The Senate Banking Committee in January earlier this year advanced Harper’s nomination in [...]
NAFCU President and CEO Dan Berger joined with Defense Credit Union Council (DCUC) President and CEO Anthony Hernandez in a letter to House Small Business Committee Chairwoman Rep. Nydia Velázquez, R-N.Y., and Ranking [...]
