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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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  • FCC's O'Reilly notes TCPA order's harm to businesses, consumers (Friday, March 24, 2017)
    The Federal Communications Commission's 2015 declaratory ruling and order interpreting the Telephone Consumer Protection Act has harmed businesses and their customers due to legitimate calls being deemed in violation of the act, FCC Commissioner Michael O'Reilly said during an open meeting Thursday attended by NAFCU.
  • New-home sales, aided by milder weather, up 6.1% in February (Friday, March 24, 2017)
    New-home sales surged 6.1 percent in February – a seven-month high. NAFCU Research Assistant Yun Cohen said the increase was partially attributed to milder weather throughout the Midwest, which led to that region's 30.9 percent sales jump.
  • CFPB fines Experian $3M over deceptive credit score marketing (Friday, March 24, 2017)
    The CFPB on Thursday said Experian and its subsidiaries have deceived consumers about the use of credit scores it sold to them. It ordered the company to pay a civil penalty of $3 million and to truthfully represent how its credit scores are used.
  • FHFA offers update on CSP, single security implementation (Friday, March 24, 2017)
    The Federal Housing Finance Agency on Thursday released an update on its progress implementing the single security and the common securitization platform (CSP).
  • NCUA FOM webinar, questions now online (Friday, March 24, 2017)
    An NCUA webinar and series of questions and answers on the agency's new field-of-membership rule are now available online, and the agency said more guidance is slated for release by May.
  • Comments on CFPB remittance rule plan due May 23 (Friday, March 24, 2017)
    The CFPB will accept public comments on its plan to assess its remittance rule until May 23, according to a bureau notice in today's Federal Register.
  • Reg relief update in Wednesday NAFCU member call-in (Friday, March 24, 2017)
    NAFCU members will learn the latest on the association's efforts and expectations regarding regulatory relief ahead for credit unions during the association's March 29 member call-in featuring President and CEO Dan Berger and senior government affairs staff.
  • FHFA: No change in house prices in January (Thursday, March 23, 2017)
    The Federal Housing Finance Agency reported that U.S. house prices were flat in January, according to its House Price Index. However, on a year-ago basis, house prices in January were up 5.7 percent.
  • Existing-home sales drop 3.7% in February (Thursday, March 23, 2017)
    Existing-home sales declined 3.7 percent in February due in part to the lack of available homes, which created upward pressure on prices, according to NAFCU Research Assistant Yun Cohen.
  • House to vote on ACA replacement today (Thursday, March 23, 2017)
    The House of Representatives will vote today on the Republican plan to repeal and replace the Affordable Care Act, also called "Obamacare."
  • NAFCU seeks members' input on 'alternative data' for credit access (Thursday, March 23, 2017)
    NAFCU issued a Regulatory Alert Wednesday seeking members' input for a CFPB review of how to expand access to credit for consumers who lack the credit history needed to obtain credit scores. Comments are due to NAFCU by May 9.
  • NAFCU to DoD: Delay MLA credit card compliance deadline (Thursday, March 23, 2017)
    NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt urged the Defense Department Wednesday to extend the Oct. 3 compliance deadline under Military Lending Act rules for credit card accounts.
  • Sen. Rounds tells bankers to leave CU tax exemption alone (Thursday, March 23, 2017)
    Sen. Mike Rounds, R-S.D., a member of the Senate Banking Committee, urged bankers to drop their lobbying against credit unions' tax exemption during an American Bankers Association meeting in Washington yesterday.
  • Hensarling says action on Dodd-Frank reform this year (Thursday, March 23, 2017)
    House Financial Services Chairman Jeb Hensarling, R-Texas, on Wednesday said the White House and leaders in Congress have assured him there will be action this year on reform of the Dodd-Frank Act, Reuters reported.
  • NAFCU's Board Conference sold out; Hawaii board program open (Wednesday, March 22, 2017)
    NAFCU's Board of Directors and Supervisory Committee Conference, May 1-4 in Charleston, S.C., has recently sold out, but credit unions can still take advantage of the Board Excellence Program during NAFCU's 50th Annual Conference and Solutions Expo June 13-16 in Honolulu, Hawaii.
  • Berger, in CUInsight, advocates for CFPB commission (Wednesday, March 22, 2017)
    NAFCU President and CEO Dan Berger says one way to cut down on the "avalanche of regulation from the CFPB" is to change its structure from a single director of a five-person commission in a CUInsight editorial published Tuesday.
  • Trump administration to make GSE reform a priority (Wednesday, March 22, 2017)
    Mark Calabria, chief economist for Vice President Mike Pence, with whom NAFCU met earlier this month, reportedly said Tuesday that overhauling Fannie Mae and Freddie Mac is a priority for the Trump administration.
  • NAFCU welcomes joint EGRPRA report (Wednesday, March 22, 2017)
    NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt welcomed the joint banking agency report released Tuesday on efforts to reduce the regulatory burden for financial institutions.
  • Stone to Congress: Reg burden hurts CUs, communities (Wednesday, March 22, 2017)
    Keith Stone, president and CEO of The Finest Federal Credit Union in New York, N.Y., testified about the constraints of the credit union chartering process and how the overall regulatory burden is hurting credit unions and their communities during a House subcommittee hearing Tuesday.
  • ECU Monitor: CUs note importance of secondary mortgage market (Tuesday, March 21, 2017)
    NAFCU's latest Economic & CU Monitor report on housing, sent to members yesterday, notes that a significant number of credit unions continue to participate in the secondary mortgage market, with more than half of respondents selling mortgage loans to Fannie Mae, Freddie Mac or both.
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