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NAFCU President and CEO Dan Berger and other senior staff gave association members an overview of legislative, regulatory, compliance and economic issues affecting the credit union industry during a member-only call yesterday afternoon.

To start the call, Berger touted the association's successful advocacy efforts to preserve the NCUA's budgetary independence in the fiscal package passed by Congress last week.

"We just had a tremendous week in Washington, with a strong Congressional Caucus that was one of our largest ever," Berger said. "Attendees had more than 200 [Capitol] Hill meetings. That, combined with your emails and calls…gave us a victory in the House Wednesday to keep the NCUA out of the appropriations process."

NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt highlighted the meetings NAFCU has had with administration officials to "ensure policy makers are informed and make the best decisions that allow credit unions to help their members."

Here is a rundown of other issues discussed during the "NAFCU Q3 Advocacy Update" call:

• NAFCU Vice President of Legislative Affairs Brad Thaler said data security will be a key issue for both the House and Senate, with hearings in the coming weeks on the Equifax breach. Thaler also expects government funding (including the debt ceiling, the National Flood Insurance Program and opportunities to seek regulatory relief via the appropriations bills), tax reform, housing finance and smaller regulatory relief bills moving in the House to fill the congressional calendar this fall.
• NAFCU Director of Regulatory Affairs Alexander Monterrubio reminded listeners of the NCUA's board meeting next week, during which it is expected to take up its proposal to close the Temporary Corporate Credit Union Stabilization Fund (TCCUSF) and increase the National Credit Union Share Insurance Fund's (NCUSIF) normal operating level to its highest level ever. NAFCU continues to advocate for a full refund of credit unions' money from the TCCUSF. Monterrubio also believes the CFPB will try to push through a final rule related to payday lending and a proposal on debt collection before bureau Director Richard Cordray resigns or reaches the end of his term.
• NAFCU Vice President of Compliance Brandy Bruyere briefed members on recent compliance issues, including the Home Mortgage Disclosure Act (HMDA), the Truth in Lending Act/Real Estate Settlement Procedures Act Integrated Disclosures rule (TRID), Military Lending Act (specifically its October credit card compliance deadline) and marijuana banking. Members should visit NAFCU's compliance page for resources and additional information on the issues.
• NAFCU Vice President of Research and Chief Economist Curt Long said strong economic growth in Q2 has tapered off with weaknesses in retail, auto and housing sales. The Federal Reserve's rate setting committee begins a two-day meeting today. Long said a rate hike is unlikely this meeting, but the Fed is expected to begin reducing its balance sheet.
• NAFCU Director of Political Affairs Dan O'Brien highlighted the importance of credit unions continuing to reach out to their respective congressional members and providing NAFCU with input on issues related to the industry to bolster advocacy efforts.