The Federal Reserve Board Thursday finalized amendments to Regulation J, specifying the terms and conditions under which Reserve Banks will process fund transfers through the FedNow Service. The final rule provides a “comprehensive set of [...]
Two weeks ago, the Consumer Financial Protection Bureau (CFPB or bureau) issued an advisory opinion to clarify the Equal Credit Opportunity Act (ECOA) and its implementing regulation (Regulation B) prohibit discrimination against members during the [...]
Existing home sales fell 2.4 percent in April to a seasonally adjusted annualized rate of 5.61 million units, representing a 5.9 percent decrease in sales compared to last year. NAFCU Chief Economist [...]
As leaders, it can become dull to go through our daily routines and doing the same tasks each day. On top of keeping ourselves lifted, we’re also expected to boost morale for those in [...]
NAFCU’s State of the Industry is back next month to bring together credit union leaders, industry experts, and NAFCU's award-winning staff for a discussion on key trends, strategies, and legislative and regulatory developments. Of [...]
NAFCU Vice President of Legislative Affairs Brad Thaler Tuesday wrote to the House Veterans’ Affairs Committee ahead of today’s hearing to voice the association’s support for the draft legislation, Building Credit Access for [...]
The House Financial Services Committee today will convene for a markup to discuss several pieces of legislation, including three bills that affect the credit union industry: the NAFCU-backed Expanding Financial Access for Underserved Communities Act [...]
The House Financial Services Committee Task Force on Artificial Intelligence (AI) held a hearing examining the use of AI within regulatory technology for the financial services industry Friday, where NCUA Director of the Office of [...]
Because of its egregiously negative impacts on American consumers, the “Durbin Amendment” is one of the biggest legislative failures in recent memory. Part of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank [...]
The Senate yesterday voted 80-19 to confirm Jerome Powell’s nomination to serve a second term as Federal Reserve Board Chair; he will serve a four-year term. The Senate Banking Committee in March approved Powell’[...]
As we elevate Mental Health Awareness during the month of May, we start to think more consciously about how we are treating our mind, body, and spirit. As leaders, it’s our duty to focus [...]
The House Wednesday passed H.R. 5911, the Fair Hiring in Banking Act, by a 329-88 vote. The bill, originally introduced by Senator Joe Manchin, D-W.Va. and led in the House by Rep. Joyce [...]
The Consumer Financial Protection Bureau (CFPB) recently released its Supervisory Highlights covering issues arising during examinations between July 2021 and December 2021. The CFPB issues the Supervisory Highlights twice a year to provide insight on [...]
The CFPB released its 2021 Fair Lending Annual report to Congress on Monday, revealing that throughout the year, the bureau mainly focused its fair lending supervision efforts on mortgage origination and pricing, small business lending, [...]
Total consumer credit rose 14 percent, at a seasonally adjusted, annualized rate, in March and is up 7.5 percent compared to a year ago. Revolving credit - primarily credit cards - rose 35.3 [...]
