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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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  • CU win: Another lawsuit dismissed over ADA (Friday, February 23, 2018)
    In another victory for credit unions facing litigation over unclear website requirements under the Americans with Disabilities Act (ADA), a federal district court in Virginia found that the plaintiff to such a lawsuit did not have standing to sue the credit union because he was not eligible for membership and would not likely use the credit union's services.
  • Monterrubio, on CUbroadcast, talks CFPB, reg landscape (Friday, February 23, 2018)
    NAFCU's Alexander Monterrubio, during a recent interview with CUbroadcast's Mike Lawson, said the current regulatory outlook seems positive for credit unions as the CFPB and NCUA focus on reviewing and tailoring regulations.
  • Savings on NAFCU's CEOs conference run out today (Friday, February 23, 2018)
    Credit union CEOs and executives have until 11:59 p.m. Eastern tonight to save $200 on NAFCU's CEOs and Senior Executives Conference, which promises unique networking events and relevant executive-level sessions. To save on the conference - April 18-20 in Napa, Calif. - credit unions can use the code CEOSAVINGS.
  • Product sales management, CUSO benefits headline NAFCU webcasts (Friday, February 23, 2018)
    Credit union viewers to NAFCU's webcasts next week will learn how to effectively manage indirect lending programs with a focus on ancillary product sales, and will uncover the monetary and efficiency benefits of using credit union service organizations (CUSOs) in the lending process.
  • NAFCU remains diligent as ADA concerns persist (Friday, February 23, 2018)
    NAFCU continues to offer support to those many credit unions facing litigation threats over unclear website accessibility requirements under the Americans with Disabilities Act (ADA). In the past couple weeks, the association has attended a credit union's court hearing, updated an FAQ document and pushed lawmakers for clarification on the law.
  • CFPB asks for input on external engagements (Thursday, February 22, 2018)
    The CFPB on Wednesday issued a request for information (RFI) on its public and non-public external engagements, including field hearings, town halls, roundtables and meetings of its advisory groups. This RFI is due to be published in the Federal Register Monday and will be open for comments for 90 days.
  • Inventory shortage continues to restrict existing-home sales (Thursday, February 22, 2018)
    January existing-home sales were down 4.8 percent from a year ago, which marks the largest annual decline since August 2014. NAFCU Research Assistant Yun Cohen noted in a NAFCU Macro Data Flash report Wednesday that inventory has declined year-over-year for 32 consecutive months.
  • FFIEC issues 2018 HMDA reporting guide (Thursday, February 22, 2018)
    The Federal Financial Institutions Examination Council (FFIEC) on Wednesday released an updated guide to Home Mortgage Disclosure Act (HMDA) reporting - its first full update to the guide since 2013. This 2018 edition reflects changes to Regulation C that went into effect Jan. 1 for those submissions due March 1, 2019.
  • ECU Monitor: CUs clarify importance of secondary mortgage market (Thursday, February 22, 2018)
    NAFCU's latest Economic & CU Monitor report on housing, sent to members yesterday, notes that credit unions remain involved in the secondary market, with nearly 60 percent of respondents selling mortgage loans to Fannie Mae, Freddie Mac or both.
  • FOMC members forecast continued economic growth (Thursday, February 22, 2018)
    Federal Open Market Committee (FOMC) members, in minutes released from the January policy-setting meeting, pointed to "accommodative financial conditions, the recently enacted tax legislation, and an improved global economic outlook" as factors likely to support continued economic growth. The FOMC meets again March 20-21 during which a quarter-point rate hike is a possibility.
  • NAFCU, CUNA defend CUs in joint letter against bankers' attacks (Thursday, February 22, 2018)
    NAFCU and CUNA are stepping up their defense of the credit union industry and its federal tax exemption as state bankers associations continue to push for its elimination with the use of misinformation, despite evidence of the industry's many benefits to consumers and the nation's economy.
  • Free webcast on NCCO exam today (Wednesday, February 21, 2018)
    NAFCU is offering a free webcast today to help prepare students for the NAFCU Certified Compliance Officer (NCCO) exam. The association also has two other webcasts yet this month on strategic planning and indirect lending program management.
  • NAFCU asks CUs for opinion on CFPB's adjudication process (Wednesday, February 21, 2018)
    NAFCU is asking for member credit unions' feedback on the CFPB's administrative adjudication process through a Regulatory Alert sent yesterday. NAFCU continues to work with the CFPB to find ways to reduce credit unions' regulatory burden and help the bureau improve its functions.
  • NAFCU continues fight for clear ADA guidance (Wednesday, February 21, 2018)
    Hearing from dozens of credit unions in at least 21 states over unclear website accessibility requirements under the Americans with Disabilities Act (ADA), NAFCU continues to offer support. In the past week, the association has attended a credit union's court hearing, updated an FAQ document and pushed lawmakers for clarification on the law.
  • NAFCU asks for input on CFPB enforcement processes (Tuesday, February 20, 2018)
    NAFCU, through a Regulatory Alert sent to member credit unions Friday, is asking for input on the CFPB's enforcement processes. NAFCU remains engaged with the bureau to find ways to reduce credit unions' regulatory burden.
  • Fourth Corner continues push for share insurance to serve marijuana advocates (Tuesday, February 20, 2018)
    Fourth Corner Credit Union is asking a federal court to deliver a faster resolution in its case against the NCUA over share insurance coverage now that it has received conditional approval from the Federal Reserve Bank of Kansas City to serve marijuana advocates and groups that support the legalization of marijuana in Colorado.
  • This week: Congress out; CUs encouraged to engage on data security (Tuesday, February 20, 2018)
    Lawmakers are working in their home district and state offices this week, providing a great opportunity for credit unions to reach out on top industry issues, including the ongoing push for regulatory relief and national data security standards.
  • NAFCU stands by CU at ADA hearing in Virginia (Tuesday, February 20, 2018)
    NAFCU last week attended a hearing on a defendant credit union's motion to dismiss an Americans with Disabilities Act (ADA) case. NAFCU remains active on ADA, engaging with various stakeholders on this issue and working with credit unions that are facing litigation.
  • Congress making progress on NAFCU-sought data security legislation (Tuesday, February 20, 2018)
    Reps. Blaine Luetkemeyer, R-Mo., and Carolyn Maloney, D-N.Y., on Friday released NAFCU-sought draft legislation that would create a strong national data security standard for retailers and other entities. NAFCU has led the effort to ensure all entities that hold or collect consumers' personal financial information are held to similar standards as credit unions.
  • NCUA OIG stands by NAFCU-opposed operating level increase (Tuesday, February 20, 2018)
    The NCUA Office of Inspector General (OIG) determined that "the NCUA's process and basis for recommending the NCUA Board set the [normal operating level] at 1.39 percent was reasonable" after receiving a request that it review the legality of the move, approved last September, and opposed by NAFCU.
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