On January 19, the Consumer Financial Protection Bureau (CFPB) issued their final rule amending the higher-priced mortgage loan (HPML) escrow rule. The final rule expands the exemption for establishing escrow accounts for HPMLs as required [...]
The inauguration of President Joe Biden and Vice President Kamala Harris was a historic moment for our nation. As a longtime credit union advocate in Washington, D.C., I have seen my share of changes [...]
The Senate Monday, via a 84-15 bipartisan vote, approved the nomination of former Federal Reserve Chair Janet Yellen to serve as Treasury Secretary. NAFCU worked closely with Yellen during her time on the Federal Reserve [...]
President Joe Biden has named Todd Harper as NCUA Board chair. Harper, the board's only Democrat, has served as a board member since April 2019. "NAFCU congratulates Todd Harper on being named NCUA Board chairman," [...]
As work on Capitol Hill begins under President Joe Biden and the Democrat-controlled Congress, NAFCU's award-winning advocacy team is maintaining close contact to ensure decision makers are aware of credit unions' efforts in their communities [...]
Challenging times reveal a lot about our character. This past year has had its share of challenges, any of which could have defeated us. But – I'm sure like many of you – my team inspired me [...]
Due to the ongoing coronavirus pandemic and the high volume of expected in-person attendees, NAFCU has canceled its 54th Annual Conference and Solutions Expo. NAFCU's executives meet daily to discuss the pandemic – including feedback from [...]
President-elect Joe Biden is expected to nominate Rohit Chopra – currently a commissioner at the Federal Trade Commission (FTC) – to lead the CFPB. Chopra helped launch the CFPB following the passage of the Dodd-Frank Act and [...]
The Small Business Administration (SBA) issued a procedural notice Thursday regarding first draw paycheck protection program (PPP) loan increases. The notice, which impacts any loan that was approved on or before Aug. 8, 2020, details [...]
We’re well into January 2021 now, but there were a few developments relating to the Bank Secrecy Act (BSA) that snuck in around the holidays at the end of 2020. Let’s look back [...]
One clear lesson from the coronavirus pandemic has been the need for adaptability. Change is not an uncommon characteristic in business or life. But when situations change quickly – affecting our operating environment, daily lives, and [...]
NAFCU sent members a Regulatory Alert Wednesday outlining the NCUA's request for information (RFI) related to its communication methods in an effort to increase transparency and promote efficiency. The association outlined the RFI and provided [...]
NAFCU President and CEO Dan Berger wrote to the Small Business Administration (SBA) following the announcement that there will be a dedicated window for paycheck protection program (PPP) applications from small lenders, urging that all [...]
The NAFCU compliance team has blogged about field of membership a couple of times over the past few months. The first blog provided an update on the litigation between the American Bankers Association (ABA) and [...]
Total consumer credit rose 4.4 percent in November (seasonally-adjusted, annualized), up 0.4 percent versus a year ago. NAFCU Chief Economist and Vice President of Research Curt Long analyzed the latest numbers in a [...]
