Board of Directors
Become a NAFCU Member
NAFCU Employment Opportunities
Connect with our LinkedIn page for industry insight.
Follow us on LinkedIn
Legislative & Regulatory Issues
Annual Privacy Disclosure Notices
CFPB's Qualified Mortgage Definition
Credit Union Tax Exemption
Defense Credit Union Issues
Housing Finance Reform
Member Business Lending
Regulatory Comment Letters
Legislative Policy Letters
Beltway Buzz Enewsletter
The Regulatory Affair Enewsletter
Grassroots Action Center
Regulatory Alert: NCUA Capital Planning and Stress Testing Schedule Shift
Send comments to NAFCU
Regulation & Compliance
Contact the Compliance Team
CFPB Mortgage Rules Compliance
Monthly Compliance Enewsletter
Quarterly BSA Enewsletter
Book of Answers
Compliance GPS Manual
NAFCU Compliance Blog
Additional Compliance Resources
Compliance Resources Search
Compliance Certification Program
Become an NCCO
Purchase or Retake Exams
Maintaining Your NCCO
Submit Non-NAFCU Programs for Credits
NCCO Program Frequently Asked Questions (FAQs)
NCCO Compliance Support Package for State-Chartered CUs
The 2015 Compliance GPS is coming soon!
Keep me posted!
Data & Research
Economic & Credit Union Industry Trends
CU Industry Trends Quarterly Report
Economic and CU Research Enewsletter
Macroeconomic Data Flash Reports
NAFCU Annual Report on Credit Unions
Credit Union Federal Tax Exemption Study
Participate in Credit Union Research Surveys
Measure Your CU Financial Performance
Credit Union Capital Management Tools
CU Data & Research Publications
Economic Data & Forecast Web Links
How are economic changes impacting your credit union?
Education & Conferences
Strategic Growth Conference
Regulatory Compliance School
CEOs and Senior Executives Conference
Board of Directors and Supervisory Committee Conference
Annual Conference and Solutions Expo
Risk Management Seminar
Management and Leadership Institute
Regulatory Compliance Seminar
Online Training Center
Live and On-Demand Webcasts
Compliance Webcast & Online Training Subscription
Board of Directors and New Staff Online Training Subscription
Management and Leadership Series
Online Training Center All Access Pass
Certification & Training Certificates
NAFCU Certified Compliance Officer (NCCO) Program
Financial Literacy Training Certificate
BSA Training Certificate
Supervisory Committee Training Certificate
Credits for CPAs
Advertise & Exhibit
Our Compliance Webcast & Online Training Subscription saves you 45%.
About NAFCU Services
Preferred Partners A-Z
Growth and Retention
Financial and Insurance
Infrastructure and Operations
Training and Compliance
Live Webinar Schedule
NAFCU Services Blog
Become a Preferred Partner
Browse free educational resources for credit unions.
Visit the Partner Library
USPS 'open' to idea of banking services
USPS 'open' to idea of banking services
Feb. 18, 2014 - A U.S. Postal Service spokesperson was
last week saying the agency was "open to any innovative ideas" with regard to the suggestion from the agency's Office of Inspector General that it should offer customers some financial services.
Carrie Hunt, NAFCU’s senior vice president of government affairs and general counsel, said consumers are best served by institutions that can offer a full range of financial services and establish relationships with them, as credit unions do.
USPS spokesperson Toni DeLancey, the Banker reported, said the idea to offer banking services "took us by surprise" but later "spread like wildfire." The paper noted that the USPS may not be able to offer "non-postal services" under a 2006 law, but some lawmakers would like to change that.
Sen. Elizabeth Warren, D-Mass., and others embraced a suggestion that the USPS could offer limited financial services to underbanked persons as a way to generate more income.
The Senate Homeland Security and Government Affairs Committee this month approved a postal service reform bill after adding a section that could accommodate language for new services being offered in the future. The bill, S. 1486, doesn’t specify that financial services could be in the mix. Instead, it says any such products should use the USPS’s existing processing and distribution network, be in the public interest, answer a likely public demand and not create unfair competition with the private sector.
NAFCU has concerns that this language could be used or amended to open the door to banking services by the post office and is staying vigilant on this issue on the Hill.
American Banker article
Target was warned of data security problems
Wyden to tackle extenders before tax reform