With NAFCU’s Regulatory Compliance School beginning in less than a month, we thought it would be a good time to revisit a topic that is covered during school: the difference between the new accounts [...]
NAFCU Vice President of Legislative Affairs Brad Thaler wrote to the Senate Banking Committee ahead of its hearing to review the President’s Working Group (PWG) on Financial Markets’ report on stablecoins, cautioning the committee [...]
NAFCU’s Kaley Schafer wrote to the Financial Crimes Enforcement Network (FinCEN) Friday in response to a request for information (RFI) regarding the review of Bank Secrecy Act (BSA) regulations and guidance. Of note, the [...]
The Military Lending Act (MLA)’s car loan exception to the definition of consumer credit applies to a loan offered “for the express purpose of financing…[a] car or personal property.” The Department of Justice, [...]
The NCUA Board next week is set to issue an interim final rule (IFR) on prompt corrective action (PCA), as well as propose a rule regarding asset threshold for determining the appropriate supervisory office. Also [...]
Last month, we blogged about emails and bona fide errors under Regulation F. Regulation F provides similar treatment for text messages and bona fide errors. Under section 813(c) of the Fair Debt Collection Practices [...]
Have you ever been faced with an amazing opportunity for your organization, but could not figure out the best way to get your team excited for it? In a recent Inc. article, Bill Murphy Jr. [...]
As NAFCU continues to evaluate the situation surrounding the ongoing coronavirus pandemic, including event capacity restrictions put in place by the province of Quebec and the Canadian government, the association has canceled its 55th Annual [...]
Ahead of today’s Senate Agriculture, Nutrition, and Forestry Committee hearing on digital assets, NAFCU’s Vice President of Legislative Affairs Brad Thaler urged the committee to ensure that the needs of credit unions are [...]
On February 4th, the Consumer Financial Protection Bureau (CFPB) published a blog about the illegality of appraisal discrimination. The blog clarified that appraisal discrimination is prohibited by federal law. The CFPB noted that it is [...]
In a letter sent ahead of the House Financial Services Committee hearing to review the President's Working Group (PWG) on Financial Markets' report on stablecoins, NAFCU's Brad Thaler explained that the absence of a clear [...]
Your credit union board is hardworking. They draw no salary. They may not all have a financial background. But they’re 120% dedicated to making your credit union succeed. Show them your appreciation by sending [...]
The Federal Reserve Bank of Boston and the Massachusetts Institute of Technology (MIT) published a whitepaper detailing the feasibility of a digital dollar, or U.S. central bank digital currency (CBDC). The whitepaper describes a [...]
A few weeks ago, the National Credit Union Administration (NCUA) Board held its January 2022 monthly meeting. During the meeting, the Board approved a proposed rule that, if adopted as a final rule, would require [...]
Total vehicle sales rose from 12.5 million annualized units to 15 million annualized units in January, with monthly sales levels down 10.6 percent year over year. NAFCU Chief Economist and Vice President of [...]
