On May 6, 2022, the Consumer Financial Protection Bureau (CFPB) issued its annual Fair Lending Report to Congress, which outlines the work the bureau undertook around fair lending in 2021. The 43-page report covers myriad [...]
The Federal Housing Finance Administration (FHFA) last week published a final rule that requires the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, to submit annual capital plans to the agency for approval. “The final [...]
Total vehicle sales fell from 14.5 million annualized units in April to 12.7 million annualized units in May; monthly sales levels were down 24.8 percent year over year. NAFCU Chief Economist and [...]
NCUA recently released NCUA Letter to Credit Unions 22-CU-07 (letter) discussing the use of distributed ledger technologies. NCUA’s tone suggests a “form-agnostic” approach, one championed by NAFCU in a September comment letter to NCUA [...]
The Treasury Department Tuesday announced the fiscal year 2022 application round for the Community Development Financial Institutions (CDFI) Fund and Native American CDFI Assistance (NACA) program closed with 719 organizations from across the country requesting [...]
As leaders, it’s important to remember that there will be times for success, and there will be times for failures. That’s life. However, there’s always aspects of leadership that leaders can control [...]
For years, NAFCU has staunchly opposed Section 1075 of the Dodd-Frank Act that established an arbitrary debit interchange fee cap and new routing requirements for debit cards. Coined the ‘Durbin amendment’ after Senator Dick Durbin, [...]
President Joe Biden Monday published a Wall Street Journal op-ed outlining a plan to both lower costs for American consumers and tackle looming inflation concerns. Citing a multitude of challenges including the ongoing war between [...]
We’re all taught to stop, drop, and roll when it comes to catching fire, but we’re not always taught to stop and freeze all collection activity when it comes to a member who [...]
NAFCU Senior Regulatory Affairs Counsel Aminah Moore Friday wrote to the Department of Housing and Urban Development (HUD) to offer support for its notice of proposed rulemaking (NPRM) that would allow mortgagees to modify a [...]
The CFPB Thursday highlighted that federal anti-discrimination law requires companies to explain to applicants the specific reasons for denying an application for credit or taking other adverse actions, even if the creditor is relying on [...]
Change is inevitable. Big or small, change happens every day. As leaders, it’s our duty to make sure that those in our organization are fully prepared for changes that occur, and how to best [...]
NAFCU has announced the results of its 2022 Board of Directors election. New board member Eli Vazquez, President and CEO of Bank-Fund Staff FCU (Washington D.C.), will serve an At-Large seat for a two-year [...]
New home sales fell 16.6 percent in April to 591,000 annualized units, while March saw a downward revision of 54,000 units. Compared to last year, April sales were 26.9 percent lower. [...]
The Federal Reserve Monday released the results of its annual Survey of Household Economics and Decision-making (SHED) survey on household financial well-being. According to the survey, 78 percent of adults were either doing okay or [...]
