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 webcasts target employee fraud, ALM measuring, e-signatures (Tuesday, October 17, 2017)
    In the coming weeks, NAFCU is offering three webcasts that will help credit unions detect and prevent employee fraud, better understand asset liability management (ALM) and adopt e-signature services.
  • CUs reminded of assistance during California wildfires (Tuesday, October 17, 2017)
    Credit unions are reminded that the NCUA stands ready to assist those institutions needing help after wildfires have burned up more than 213,000 acres in California during the past week. Around 40,000 people have been evacuated and some 5,700 homes and other buildings destroyed by these fires.
  • NAFCU active at tax reform, affordable housing events (Tuesday, October 17, 2017)
    NAFCU staff is actively engaged with policymakers, experts and industry leaders on tax reform and affordable housing, sharing the credit union industry's perspective at recent events.
  • NAFCU pushes need for national data security standard, greater regulation of credit bureaus (Tuesday, October 17, 2017)
    Ahead of today's Senate Banking Committee hearing on consumer data security at the credit bureaus, NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt sent a letter reiterating NAFCU's call for a stronger national data security standard under which companies that maintain consumers' financial records are incentivized to protect the data.
  • Consumer prices continue to rise, up 0.5% in September (Monday, October 16, 2017)
    Overall consumer prices rose 0.5 percent in September - the strongest growth since January. NAFCU Chief Economist and Vice President of Research Curt Long attributed the increase to soaring gasoline prices.
  • This week: NAFCU rep Zook set to testify on NCUA budget; NAFCU ramps up data security push (Monday, October 16, 2017)
    NAFCU this week will continue its efforts to create a strong national data security standard as the Senate Banking Committee holds a hearing on credit bureaus' data protection. Beverly Zook, president and CEO of Money One Federal Credit Union, will also testify in the NCUA's budget hearing and the association will monitor the NCUA Board's consideration of two proposals related to exam appeals.
  • Retail sales see large monthly gain, up 1.6% in September (Monday, October 16, 2017)
    Total retail sales surged 1.6 percent in September - the largest monthly gain since March 2015. NAFCU Research Assistant Yun Cohen said recent weather events, such as the hurricanes, will continue to impact retail sales in the coming months.
  • CFPB's HELOC changes covered in updated compliance guide (Monday, October 16, 2017)
    The CFPB updated its Home Mortgage Disclosure Act (HMDA) small-entity compliance guide to incorporate recent changes that temporarily raise the home equity line of credit (HELOC) reporting threshold for smaller financial institutions, including credit unions.
  • NAFCU reiterates call for flexibility as NCUA implements cybersecurity exam tool (Monday, October 16, 2017)
    A recent audit report revealed the NCUA plans to implement a new Automated Cybersecurity Examination Tool (ACET) to determine the effectiveness of credit union cybersecurity programs. NAFCU continues to urge the agency to avoid forcing credit unions into a one-size-fits-all cybersecurity program.
  • Quarles sworn in as Fed vice chair, open to Dodd-Frank changes (Monday, October 16, 2017)
    Randal Quarles, who in the past has indicated support for making "refinements" to the Dodd-Frank Act, was sworn in Friday as the Federal Reserve's vice chairman for supervision.
  • NAFCU increases pressure on Congress to curb frivolous ADA lawsuits (Monday, October 16, 2017)
    As frivolous lawsuits filed under the Americans with Disabilities Act (ADA) continue to mount, NAFCU is putting the pressure on Congress to prevent abusive, targeted litigation.
  • Lawmakers take steps to rectify data security gaps in light of Equifax breach (Friday, October 13, 2017)
    Senate Banking Chairman Mike Crapo, R-Idaho, sent a letter to three federal agencies yesterday questioning their ability to oversee credit bureaus and ensure consumer data is protected. In it, Crapo expresses concern about a "regulatory gap" for data security standards.
  • NAFCU-backed reg relief bills advance out of committee (Friday, October 13, 2017)
    The House Financial Services Committee passed a host of NAFCU-backed regulatory relief bills out of committee yesterday following a two-day mark-up that addressed Home Mortgage Disclosure Act (HMDA) improvements and tailoring of regulations to limit burdens on affected institutions. One approved bill would also raise the CFPB supervision and examination threshold from $10 billion to $50 billion.
  • Hyatt Hotels breached again; 41 properties affected (Friday, October 13, 2017)
    Credit unions should be aware that Hyatt Hotels Corp. is alerting its customers to a credit-card breach that appears to have impacted 41 properties across 11 countries between March 18 and July 2. This breach impacts payment cards that were manually entered or swiped at the front desk of these affected locations.
  • Exam appeal proposals, capital planning on NCUA Oct. 19 agenda (Friday, October 13, 2017)
    The NCUA Board will take up its two proposals regarding credit union processes for appealing exams and will issue a proposal on capital planning and supervisory stress testing during its open board meeting slated for 10 a.m. Eastern Oct. 19.
  • HMDA reporting impacts detailed at NAFCU's Reg Compliance Seminar (Friday, October 13, 2017)
    Fair lending requirements, including the Home Mortgage Disclosure Act (HMDA) and how the new changes to the rule will impact credit unions and their compliance obligations and exam preparations, were detailed Thursday at NAFCU's Regulatory Compliance Seminar.
  • Stabilization fund closure, CFPB payday rule highlighted at NAFCU's School (Friday, October 13, 2017)
    The impact on credit unions of the NCUA's recent closure of the Temporary Corporate Credit Union Stabilization Fund (TCCUSF) and increase in the share insurance fund's normal operating level NOL) headlined a regulatory update provided Thursday during NAFCU's Fall Regulatory Compliance School.
  • NAFCU Compliance Blog unpacks cybersecurity rules affecting CUs (Friday, October 13, 2017)
    October is National Cybersecurity Awareness Month, and a new NAFCU Compliance Blog posted today provides background on rules affecting the way credit unions must safeguard consumer data and respond to service provider breaches.
  • CFPB's TRID guide now covers construction loans, tolerances (Thursday, October 12, 2017)
    The CFPB updated its TILA/RESPA integrated disclosure rule's (TRID) small-entity compliance guide with new guidance on construction loans and tolerance provisions for the total of payments, which credit unions may find useful as they work to comply with the revised rulemaking.
  • Credit bureau data security focus of next week's Senate Banking hearing (Thursday, October 12, 2017)
    The Senate Banking Committee will hold a hearing next Tuesday on consumer data security at the credit bureaus in further follow-up to the Equifax data breach, which affected potentially more than 145 million Americans. NAFCU continues to advocate for a strong national data security standard.
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