NAFCU delivers up-to-the minute information on key legislative, regulatory and compliance issues facing credit unions. Browse and filter the news below to stay in the know.

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  • NAFCU to CFPB: Clarity - not rules - needed on 'alternative data' use (Monday, May 22, 2017)
    NAFCU, commenting Friday on the CFPB's request for information regarding use of alternative data and modeling techniques in the credit process, stressed to the bureau that no new regulations should be created to "encourage" financial institutions to use alternative forms of data to increase consumers' access to credit.
  • Barr introduces NAFCU-backed TABS Act (Monday, May 22, 2017)
    House Financial Services Subcommittee Chairman Andy Barr, R-Ky., on Friday introduced the NAFCU-backed Taking Account of Bureaucrats' Spending (TABS) Act, which would subject the CFPB to the congressional appropriations process.
  • Fed household survey shows uneven recovery (Monday, May 22, 2017)
    The Federal Reserve's fourth annual Survey of Household Economics and Decisionmaking (SHED) report showed a mixed economic recovery as of October 2016, with 23 percent of adult respondents unable to pay all monthly bills in full.
  • NAFCU monitors PHH case arguments, NCUA Board meeting (Monday, May 22, 2017)
    NAFCU staff this week will be monitoring oral arguments in the PHH Corp. lawsuit against the CFPB and the NCUA Board meeting, which will include a corporate stabilization fund update and three proposed rules.
  • FHFA's Watt reiterates true housing finance reform depends on Congress (Friday, May 19, 2017)
    Federal Housing Finance Agency Director Mel Watt on Thursday reiterated that while the agency has been engaged in reforms of government-sponsored enterprises Fannie Mae and Freddie Mac, only Congress can accomplish real housing finance reform.
  • Mnuchin voices support for Dodd-Frank exemption for some CUs (Friday, May 19, 2017)
    Treasury Secretary Steven Mnuchin showed support during a Senate Banking Committee hearing Thursday for the idea of pulling credit unions and community banks with less than $10 billion in assets out from the regulatory requirements of the Dodd-Frank Act.
  • Economic Monitor finds support for CHOICE Act, Durbin repeal (Friday, May 19, 2017)
    NAFCU's latest Economic & CU Monitor survey results, now available to member credit unions, show support among respondents for Congress' move to implement the regulatory relief reforms found in the Financial CHOICE Act (H.R. 10), particularly the proposed repeal of the Durbin interchange amendment.
  • NCUA Board will issue proposals on mergers, hear fund update (Friday, May 19, 2017)
    The NCUA Board will hear an update on the Temporary Corporate Credit Union Stabilization Fund and consider proposals dealing with voluntary federal credit union mergers, agency appeals procedures and the Supervisory Review Committee during its May 25 open meeting, according to an agenda released Thursday.
  • NAFCU adds new info to TCCUSF FAQ (Friday, May 19, 2017)
    This week, NAFCU's Regulatory Compliance team added updated information to its frequently asked questions document on the NCUA’s Temporary Corporate Credit Union Stabilization Fund.
  • Berger, in CU Times, refutes bankers on alternative capital (Thursday, May 18, 2017)
    NAFCU President and CEO Dan Berger hits back against banking trades' stated pique over the NCUA's opening of a discussion of possible forms of alternative capital for credit unions in an editorial published Wednesday by Credit Union Times.
  • Senate committee approves NAFCU-backed reg relief bills (Thursday, May 18, 2017)
    The Senate Homeland Security and Governmental Affairs Committee on Wednesday approved several NAFCU-supported bills that would affect how federal agencies write regulations, in turn providing regulatory relief to credit unions and other financial institutions.
  • NAFCU continues push for Durbin repeal, encourages CU outreach (Thursday, May 18, 2017)
    NAFCU continues to weigh in with House Republican leaders on the need to preserve the repeal of the Durbin interchange amendment housed in the Financial CHOICE Act (H.R. 10) through meetings on Capitol Hill and through specific messages sent to lawmakers' offices.
  • Comments on CFPB small-biz RFI due to NAFCU June 25 (Thursday, May 18, 2017)
    NAFCU, through a Regulatory Alert published Wednesday, is asking members for their input by June 25 on the CFPB's request for information on the small-business lending marketplace.
  • NCUA will accept low-income credit union grant applications July 1 (Thursday, May 18, 2017)
    The NCUA says it will begin accepting Community Development Revolving Loan Fund grant applications from low-income-designated credit unions starting July 1.
  • Berger urges Cordray to delay HMDA rule (Thursday, May 18, 2017)
    NAFCU President and CEO Dan Berger yesterday urged CFPB Director Richard Cordray to approve a one-year delay of the effective date of its 2015 Home Mortgage Disclosure Act rule.
  • Hunt, writing lawmakers, touts importance of CU tax exemption (Thursday, May 18, 2017)
    NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt highlighted the importance of the credit union tax exemption to the economy at large in a letter to House Ways and Means Committee leaders Wednesday.
  • Today's NAFCU webcast gives regulatory compliance update (Thursday, May 18, 2017)
    Credit union viewers will receive a compliance update on recent CFPB and NCUA guidance, rules and regulations from NAFCU's Regulatory Compliance team during a live NAFCU webcast today.
  • NAFCU updates FAQ on corporate stabilization fund (Thursday, May 18, 2017)
    NAFCU's Regulatory Compliance team this week updated its frequently asked questions document to help credit unions understand and keep up with developments related to the NCUA’s Temporary Corporate Credit Union Stabilization Fund.
  • NAFCU writes Mnuchin, slams ICBA misinformation about CU tax exemption (Wednesday, May 17, 2017)
    NAFCU President and CEO Dan Berger, in a letter to Treasury Secretary Steve Mnuchin, hit back Tuesday against misinformation being spread by the Independent Community Bankers of America about the credit union tax exemption in a paper on regulatory relief.
  • NAFCU commends FCC proposal targeting scam robocalls (Wednesday, May 17, 2017)
    A NAFCU-supported Federal Communications Commission's notice of proposed rulemaking regarding scam robocalls and malicious spoofing was published in today's Federal Register.
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