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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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  • NCUA issues ANPR on alternative capital for CUs (Thursday, January 19, 2017)
    The NCUA Board today issued an advance notice of proposed rulemaking on alternative forms of capital federally insured credit unions could use to meet capital standards required by statute and regulation. The ANPR is out for a 90-day public comment period.
  • NAFCU closed Friday for Inauguration Day (Thursday, January 19, 2017)
    NAFCU's offices will be closed Friday for Inauguration Day, a federal holiday, but members will still have access to the association's website for research purposes, event registrations and email contacts with NAFCU.
  • NAFCU seeks input by Feb. 25 on CDFI certification process (Thursday, January 19, 2017)
    NAFCU needs members' input by Feb. 25 on the Community Development Financial Institutions Fund's request for information on the CDFI designation process as the fund explores ways to enhance this process and reevaluates its criteria for CDFI eligibility.
  • CFPB sues largest student-loan servicer over illegal practices (Thursday, January 19, 2017)
    The CFPB is suing Navient, the nation's largest servicer of both federal and private student loans, for creating obstacles to repayment for borrowers by providing bad information, processing payments incorrectly and failing to act when complaints were lodged.
  • Fed Beige Book shows continued economic growth (Thursday, January 19, 2017)
    The economy continues to expand at a moderate pace, according to the Federal Reserve's Beige Book released Wednesday. NAFCU Chief Economist and Director of Research Curt Long said that as the economy continues to grow, wages should also increase.
  • NAFCU Compliance Blog eyes NCUA priorities, exams (Thursday, January 19, 2017)
    The NCUA's 2017 supervisory priorities and its plans for extended exam cycles for certain well-run credit unions were detailed in a Compliance Blog post Tuesday by NAFCU Director of Regulatory Compliance Brandy Bruyere.
  • CPI up 0.3% in December (Thursday, January 19, 2017)
    The consumer price index rose 0.3 percent in December and increased 2.1 percent year-over-year – the highest rate since mid-2014, according to data reported Wednesday and analyzed in a NAFCU Macro Data Flash report.
  • NAFCU's Harris, others at inaugural events (Thursday, January 19, 2017)
    NAFCU Board Chair Richard L. Harris and other NAFCU representatives are participating in a number of inaugural events in Washington being held in advance of President-elect Donald Trump's swearing-in ceremony tomorrow.
  • NAFCU urges reg relief for credit unions ahead of hearing (Thursday, January 19, 2017)
    NAFCU Vice President of Legislative Affairs Brad Thaler on Wednesday urged the leaders of a Senate Homeland Security and Government Affairs subcommittee to ensure that regulations meant for large entities do not negatively impact small businesses such as credit unions.
  • House bill would stop settlement slush funds (Wednesday, January 18, 2017)
    House Judiciary Committee Chairman Bob Goodlatte, R-Va., introduced bipartisan legislation to stop all government agencies, including the CFPB, from requiring defendants to donate money to outside groups as part of their settlement agreements with the federal government.
  • CFPB accepting applications for advisory board, councils (Wednesday, January 18, 2017)
    The application process is open for the CFPB's Credit Union Advisory Council, Consumer Advisory Board and Community Bank Advisory Council. Nominations are due March 1, and CFPB will announce newly selected members in August.
  • Public policy groups tout NCUA's MBL rule (Wednesday, January 18, 2017)
    Several nonprofit public policy organizations are urging President-elect Donald Trump and Vice President-elect Mike Pence to preserve the NCUA's member-business lending rule, noting that the cap on credit unions' business loans to members should be relaxed.
  • Mortgage volume survey responses due Feb. 3 (Wednesday, January 18, 2017)
    National Mortgage News is seeking survey responses on mortgage loan volume in 2016; responses are due by 6 p.m. Eastern on Feb. 3.
  • NAFCU participating in inaugural events (Wednesday, January 18, 2017)
    NAFCU representatives will participate in a number of inaugural events in Washington being held this week to mark the presidential inauguration.
  • NAFCU urges update on asset securitization rule (Wednesday, January 18, 2017)
    NAFCU Regulatory Affairs Counsel Ann Kossachev on Tuesday urged the NCUA to update credit unions on the status of the agency's NAFCU-backed asset securitization proposed rule and requested a meeting to discuss how the proposal can further address the industry's needs.
  • December vehicle sales push retail sales growth (Tuesday, January 17, 2017)
    A surge in vehicle sales led to a 0.6 percent increase in total retail sales in December. Auto dealers reported a 2.4 percent gain, NAFCU Research Assistant Yun Cohen noted in a NAFCU Macro Data Flash report.
  • NAFCU to OCC: Fintech companies need regulation (Tuesday, January 17, 2017)
    NAFCU on Friday urged the Office of the Comptroller of the Currency to hold fintech companies to a level of regulation and supervision that ensures fair competition with credit unions and others.
  • Berger urges NCUA to continue 18% usury ceiling (Tuesday, January 17, 2017)
    NAFCU President and CEO Dan Berger last week urged the NCUA Board to maintain the current 18 percent usury ceiling after March 10, warning that allowing a drop back to 15 percent would be "detrimental to the safety and soundness of credit unions."
  • FTC's Ramirez to resign Feb. 10 (Tuesday, January 17, 2017)
    Federal Trade Commission Chairwoman Edith Ramirez announced her resignation last week effective Feb. 10. During her time as chairwoman, she called on Congress to strengthen data security and breach notification requirements, also advocated for by NAFCU.
  • Berger in The Hill: Reg relief is a 'national necessity' (Tuesday, January 17, 2017)
    NAFCU President and CEO Dan Berger, in an editorial Friday in The Hill, said effective regulatory relief for credit unions is an urgent necessity not only for that industry but for the economy at large.
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