NAFCU’s Lending Conference moves to virtual
As NAFCU receives feedback from members on our return to normalcy in the wake of the pandemic, we have made the decision to pivot this year’s Lending Conference to an entirely virtual event and [...]
NAFCU News Archives
DOL issues vaccine mandate guidance for federal contractors
A couple of weeks ago, we blogged about an Executive Order on vaccine mandates for federal contractors and employers with 100+ employees. This Executive Order addresses the approach for federal contractors, and the plan itself [...]
NAFCU sends support for HFSC’s Expanding Opportunities in Banking Act
Ahead of today’s “Access Denied: Eliminating Barriers and Increasing Economic Opportunity for Justice-Involved Individuals” hearing, NAFCU Vice President of Legislative Affairs Brad Thaler sent a letter to the House Financial Services Diversity and Inclusion [...]
CFPB issues new consumer complaint report
The CFPB Thursday issued a new report that recognized a significant increase in consumer complaints over the last 18 months, particularly in loan origination and credit reporting. Of note, complaints regarding loan origination are 50% [...]
Federal Reserve paper on fintech partnerships
Earlier this month, the Board of Governors of the Federal Reserve System (Federal Reserve) issued a paper on Community Bank Access to Innovation through Partnerships. In the paper’s preface, the Federal Reserve noted that [...]
NCUA issues rule on subordinated debt rule-making, approves mid-session budget revisions
The NCUA Board Thursday unanimously approved a proposed rule related to subordinated debt, amending the definition of “grandfathered secondary capital” to include secondary capital issued to the U.S. Government or one of its subdivisions [...]
BSA/OFAC update: Recent actions and guidance
Fall 2021 is finally here. This fall and winter could potentially see some changes to the Bank Secrecy Act (BSA) landscape, as regulations are expected to implement provisions of the Anti-Money Laundering Act of 2020 [...]
How we really learn to lead
Although some may believe that leadership only sprouts from long-term experience in an industry, true leadership can be like riding a bike – through observation, training, and experimentation. In a recent post on Dan Rockwell’s [...]
Senate version of NDAA protects CU access to military bases
The Senate Armed Services Committee yesterday introduced its bipartisan Committee-approved version of the National Defense Authorization Act (NDAA), which, in a win for credit unions, excluded statutory changes that would threaten the current status of [...]
FCC releases Ten-Digit Dialing Guide for upcoming changes to U.S. area codes
The Federal Communications Commission (FCC) released the Ten-Digit Dialing Guide that will require ten-digit dialing for multiple area codes in the U.S beginning October 24, 2021 – impacting credit unions and their members. NAFCU Regulatory [...]
Recent DOJ SCRA enforcement actions
In the past week, the Department of Justice (DOJ) issued two enforcement actions for violations of the Servicemembers Civil Relief Act (SCRA). While these cases do not involve credit unions, they are good reminders that [...]
Fed expected to reveal more about eventual plan to taper assets
The Federal Open Market Committee (FOMC) – the Fed's monetary-policy setting arm - begins its September meeting today and is expected to hold the federal funds target rate range at its current 0 percent to 0.[...]
NAFCU joins wide coalition calling on Congress to reject IRS reporting requirements
In two letters sent to Congress late last week, NAFCU—along with dozens of other associations—called on Congress to reject any effort to include the proposed IRS reporting requirements in the budget reconciliation package [...]
CFPB reminds of major disaster flexibility for institutions and consumers; other available resources
In the wake of Hurricane Ida, which caused damage and flooding from Louisiana all the way to New York, the CFPB sent a message to its e-mail subscribers reminding them of its 2018 Supervisory Policy [...]
NAFCU advocacy working to ensure SBA does not become a direct lender to small business
As part of its markup of its section of the Democratic budget reconciliation package, the Build Back Better Act, the House Small Business Committee late last week approved legislation that included a proposal to grant [...]