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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  • House committee continues CHOICE Act discussions today (Friday, April 28, 2017)
    The House Financial Services Committee today will continue discussing the Financial CHOICE Act during a hearing at 9:15 a.m. Eastern. The bill, H.R. 10, contains numerous NAFCU-sought measures, including Durbin interchange amendment repeal and other Dodd-Frank Act reforms.
  • Congress primed to pass spending bill by tonight (Friday, April 28, 2017)
    House Appropriations Chairman Rodney Frelinghuysen, R-N.J., introduced a one-week federal spending bill that would prevent a government shutdown from occurring at midnight tonight. Senate Majority Leader Mitch McConnell, R-Ky., said Thursday that the Senate will also pass the bill.
  • CFPB sues online lenders over debt collection (Friday, April 28, 2017)
    The CFPB this week filed suit against four online lenders for allegedly collecting debts they were not legally owed.
  • NAFCU names 8 winners in 2017 Annual Awards Competition (Friday, April 28, 2017)
    NAFCU this week named eight winners for its 2017 Annual Awards Competition, which honors member credit unions and credit union professionals and volunteers for excellence in the industry.
  • At CEOs Conference: Credit union leaders receive Washington Update, learn tactics (Friday, April 28, 2017)
    Credit union leaders at NAFCU’s CEOs and Senior Executives Conference Thursday received a Washington and Industry Update and were briefed on what they need to know regarding the Financial Accounting Standards Board's current expected credit loss (CECL) accounting standard.
  • Thaler cites merchant push-back, calls for Durbin amendment grassroots action (Friday, April 28, 2017)
    NAFCU Vice President of Legislative Affairs Brad Thaler on Thursday called on NAFCU members to contact their lawmakers and seek support for repealing the Dodd-Frank Act's Durbin amendment through passage of the Financial CHOICE Act.
  • McWatters: CUs have until next April 1 to comply with prepaids rule (Thursday, April 27, 2017)
    NCUA Acting Chairman J. Mark McWatters told federally-insured credit unions in a letter this week that compliance with the CFPB's prepaid accounts rule will begin on April 1, 2018, in light of the bureau's recent delay of the rule's effective compliance date.
  • Lawmakers cite CUs' reg burdens during 'CHOICE Act' hearing (Thursday, April 27, 2017)
    The Dodd-Frank Act's impact on the current regulatory environment and smaller financial institutions such as credit unions was cited often by House Financial Services Committee members and witnesses during Wednesday's hearing examining the "Financial CHOICE Act," introduced by panel Chairman Jeb Hensarling, R-Texas, as H.R. 10.
  • CFPB fines servicemember auto lender $1.25M for order violation (Thursday, April 27, 2017)
    CFPB issued another fine Wednesday against Security National Automotive Acceptance Company, an auto lender that specializes in loan made to servicemembers, requiring them to pay an additional $1.25 million for violating the bureau's 2015 consent order.
  • Luetkemeyer, Kennedy, Portman and Heitkamp introduce reg relief bills (Thursday, April 27, 2017)
    House Financial Services Subcommittee on Financial Institutions and Consumer Credit Chairman Blaine Luetkemeyer, R-Mo., this week reintroduced his NAFCU-backed "CLEARR Act," which contains several provisions for regulatory relief for credit unions.
  • NAFCU CEOs and Senior Executives Conference gets underway (Thursday, April 27, 2017)

    Educational sessions for NAFCU's CEOs and Senior Executives Conference kick off today with a welcome address from NAFCU President and CEO Dan Berger. The conference, held in Miami, Fla., continues through Friday.

  • Berger touts benefits of tax-exempt CUs as White House turns to tax reform (Thursday, April 27, 2017)
    NAFCU President and CEO Dan Berger reiterated the economic value of the credit union federal corporate income tax exemption Wednesday as the Trump administration announced key principles for tax reform.
  • Berger supports, gives analysis of CHOICE Act (Wednesday, April 26, 2017)
    NAFCU President and CEO Dan Berger noted the association's support for the draft language of the Financial CHOICE Act, including its elimination of the Durbin interchange price cap, in a letter yesterday to leaders of the House Financial Services Committee ahead of today's hearing on the subject.
  • NCUA grants federal charter, MBL designation (Wednesday, April 26, 2017)
    The NCUA yesterday announced it has granted a charter and federal share insurance for Firefighters First Federal Credit Union of Los Angeles and approved the credit union's request to be designated as being chartered for the purpose of granting member business loans.
  • New-home sales up 5.8 % in March (Wednesday, April 26, 2017)
    NAFCU Research Assistant Yun Cohen said Tuesday that new-home sales increased 5.8 percent in March despite affordability issues and inventory constraints.
  • May 10 CFPB field hearing eyes small business lending (Wednesday, April 26, 2017)
    The CFPB will live-stream a public field hearing on May 10 focused on small business lending. The hearing is set for 11 a.m. Pacific (2 p.m. Eastern) in Los Angeles.
  • NAFCU at Mnuchin's tax reform panel today (Wednesday, April 26, 2017)
    NAFCU staff will attend a panel discussion about the Trump administration's tax reform plans with Treasury Secretary Steve Mnuchin today in Washington.
  • NAFCU's CEOs and Senior Executives Conference kicks off in Miami (Wednesday, April 26, 2017)
    Credit union CEOs and senior executives from around the country are gathered here today to kick off NAFCU's 2017 CEOs and Senior Executives Conference, which runs through Friday and will provide participants the latest on  emerging business development opportunities, successful credit union strategies for overcoming top-of-mind challenges and the opportunity to network with other credit union executives.
  • NAFCU celebrates 50 years today (Wednesday, April 26, 2017)
    NAFCU President and CEO Dan Berger marked the association's official 50th anniversary celebration today and touted the association's history of serving, leading and representing the interests of credit unions at the federal level.
  • CFPB 'snapshot' report reviews student loan complaints (Wednesday, April 26, 2017)
    Student loan borrowers continue to complain about poor information from and sloppy practices by servicers, according to the CFPB's monthly consumer "snapshot" report issued Tuesday. As of April 1, the bureau has handled about 44,400 student loan complaints from consumers.
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