Redesigning the work puzzle
As we have adapted to the pandemic as a global community, work has shifted with us and ultimately led to less of a work-life balance. As leaders, it is up to us to make sure [...]
NAFCU News Archives
Omnibus includes NAFCU-sought CUGMA, LIBOR legislation
Congressional leadership early Wednesday morning released the text of a massive fiscal omnibus spending bill, which includes the Credit Union Governance Modernization Act (CUGMA) – NAFCU-sought legislation that would modernize the Federal Credit Union (FCU) Act’[...]
Fed launches FedNow service provider tool to aid CUs connect with service providers
The Federal Reserve launched its FedNow service provider showcase Tuesday, a tool highlighting firms that can help financial institutions implement real-time payments using FedNow. The showcase acts as a catalogue that helps credit unions “shop” [...]
Russian sanctions and their impact on credit unions
I am sure everyone reading this blog is aware of Russia’s invasion of Ukraine and the devastation it is causing there. In response to this invasion the United States and other nations have imposed [...]
NAFCU thanks Toomey for pushing back on USPS providing banking services
NAFCU Vice President of Legislative Affairs Brad Thaler Monday wrote to Senate Banking Committee Ranking Member Pat Toomey, R-Pa. to share appreciation for his leadership in prohibiting the United States Postal Service (USPS) from offering [...]
This week: Congress remains focused on Ukraine-Russia conflict, government funding
The Ukraine-Russia conflict remains top of mind for Congress this week with President Joe Biden continuing to condemn Russian President Vladimir Putin’s actions during his State of the Union address. The Senate Foreign Relations [...]
Credit unions turn to technology to enhance services
In the 2020 NAFCU Report on Credit Unions, over 94% of survey respondents reported that IT will drive spending into 2023. When asked to identify the most likely provider for their planned investments, national vendors [...]
HMDA thresholds continued: The partial exemption
Recently we blogged about the Home Mortgage Disclosure Act (HDMA) and the reporting thresholds found in Regulation C. Today, we’ll focus on another set of thresholds in Regulation C – those which determine whether a [...]
NAFCU meets with FHFA to discuss plans to address appraisal bias and modernization
NAFCU Regulatory Affairs Counsel Aminah Moore met with the Federal Housing Finance Agency (FHFA) to discuss their plans to address appraisal bias and modernization. From the meeting, the FHFA made it clear that they are [...]
CFPB issues compliance bulletin aimed at thwarting illegal automobile repossessions
At the end of February 2022, the Consumer Financial Protection Bureau (CFPB) released a compliance bulletin regarding the potential for illegal automobile repossessions, in violation of the Dodd-Frank Act’s prohibitions against unfair, deceptive, or [...]
6 traits that help produce great leaders
Over the past week, we have witnessed leaders on the world stage utilize the power of their positions for both good and evil. As Russia continues to wage war with Ukraine, we stand strong with [...]
Fed’s Beige Book reveals modest economic activity despite continued supply constraints
The Federal Reserve released its latest Beige Book Wednesday which revealed that economic activity has expanded at a modest to moderate pace since the middle of January. However, many Federal Reserve Districts reported that surges [...]
Luetkemeyer calls USPS banking program “direct violation” of PAEA
Representative Blaine Luetkemeyer, R-Mo., the Ranking Member of the House Financial Services Subcommittee on Consumer Protection and Financial Institutions, wrote to Postal Regulatory Commission (PRC) Chairman Michael Kubayanda Tuesday, stating the USPS pilot program offering [...]
CFPB issues compliance bulletin on the compulsory use prohibition and government benefit accounts
The Consumer Financial Protection Bureau (bureau) recently issued a compliance bulletin reemphasizing “no person may require a customer to establish an account for receipt of electronic fund transfers with a particular financial institution as a [...]
FHFA announces record funding for affordable housing programs
The Federal Housing Finance Agency (FHFA) announced Monday that the Housing Trust Fund and Capital Management Fund would receive $1.138 billion from Fannie Mae and Freddie Mac, the government-sponsored enterprises (GSEs). This represents the [...]