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  • UK votes to leave EU, interest rate hike in U.S. likely delayed (Monday, June 27, 2016)
    NAFCU Chief Economist and Director of Research Curt Long noted that the United Kingdom's "Brexit" referendum vote Thursday to leave the European Union will likely further delay an interest rate hike in the U.S.
  • NAFCU backs NCUA's proposed occupancy rule (Monday, June 27, 2016)
    NAFCU Senior Regulatory Affairs Counsel Michael Emancipator expressed the association's support for NCUA’s proposed occupancy rule – previously known as the fixed-asset rule - which would give federal credit unions more flexibility to take advantage of mixed-use buildings.
  • July webcasts: IT exams, data analytics, more (Monday, June 27, 2016)
    Credit union management and staff can get timely, helpful guidance on preparing for NCUA IT exams, putting data analytics tools to best use and staying abreast of Bank Secrecy Act risks during NAFCU's series of July webcasts. Register early to save.
  • Brady announces tax plan blueprint; no CU mention (Monday, June 27, 2016)
    House Ways and Means Committee Chairman Kevin Brady, R-Texas, on Friday released a blueprint of a tax plan aimed at simplification, fairness and global modernization. For now, lawmakers continue to indicate no interest in altering credit unions' federal tax exemption.
  • This week: Mulvaney in NAFCU member-only call; hearing on financial exploitation (Monday, June 27, 2016)
    NAFCU this week will discuss the latest legislative and regulatory news during its "2Q Advocacy Update" member call-in on Wednesday featuring House Financial Services Committee member Mick Mulvaney, R-S.C., and will follow a Senate hearing on protecting older Americans from financial exploitation, among others.
  • Brady releases tax plan blueprint; no CU mention (Friday, June 24, 2016)
    House Ways and Means Committee Chairman Kevin Brady, R-Texas, today released a blueprint of a tax plan aimed at simplification, fairness and global modernization. For now, lawmakers continue to indicate no interest in altering credit unions' federal tax exemption.
  • NAFCU supports senators' push for CFPB exemptions for CUs (Friday, June 24, 2016)
    Sens. Joe Donnelly, D-Ind., and Ben Sasse, R-Neb., are gathering signatures for a NAFCU-backed letter urging CFPB Director Richard Cordray to use the bureau's Dodd-Frank Act authority to exempt credit unions from certain rulemakings. NAFCU has repeatedly pressed the bureau to use that authority more effectively.
  • NCUA's $2M grant round closes June 30 (Friday, June 24, 2016)
    Credit unions with NCUA's low-income designation need to submit their applications by June 30 to be considered for grants under four initiatives: capacity and growth, cybersecurity, staff training and student internships. A total of $2 million is available.
  • SEC: Merrill Lynch to pay $415M for misusing customer cash (Friday, June 24, 2016)
    The Securities and Exchange Commission on Thursday announced that Merrill Lynch will pay $415 million and admit wrongdoing for misusing customer cash for profit and failing to safeguard customer securities from the claims of its creditors.
  • House adjourns; approps with reg relief on hold until after July 4 (Friday, June 24, 2016)
    The sudden adjournment of the House early Thursday after a more-than-24-hour sit-in by House Democrats seeking to force votes on gun control delays any vote on a fiscal 2017 spending bill containing a handful of NAFCU-sought regulatory relief provisions until after the July 4 recess.
  • NAFCU, trades meet with DoD on MLA concerns (Friday, June 24, 2016)
    NAFCU and other financial services trade associations met yesterday with officials from the Department of Defense to discuss Military Lending Act issues, including an update on the consumer reporting agencies' direct connect option, MLA database concerns and the need for compliance guidance.
  • Community FIs' burden debated at Senate Banking hearing (Friday, June 24, 2016)
    Sen. Heidi Heitkamp, D-N.D., cited the burden of increased call report reporting requirements on community financial institutions while Sen. Elizabeth Warren, D-Mass., railed against a Dodd-Frank Act alternative being drafted by House Chairman Jeb Hensarling, R-Texas, during a Senate Banking hearing Thursday.
  • Berger, writing NCUA, touts underserved-areas bill (Friday, June 24, 2016)
    NAFCU President and CEO Dan Berger wrote in favor of the "Financial Services for the Underserved Act of 2016" (H.R. 5541) in a letter to the NCUA Board Thursday, noting the bill would give individuals living in underserved and low-income communities expanded access to federal credit unions.
  • House panel eyes overtime rule impact (Friday, June 24, 2016)
    The House Small Business Committee considered potential negative consequences from the Labor Department's recently revised overtime rule requirements during a hearing Thursday.
  • Hillary Clinton touts reg relief for CUs (Friday, June 24, 2016)
    Former Secretary of State Hillary Clinton, the presumptive Democratic nominee for president, praised credit unions' small business lending Wednesday and touted the need for regulatory relief for the industry.
  • New-home sales down 6% in May (Friday, June 24, 2016)
    New-home sales in May fell 6 percent, but the April surge meant May sales were still stronger than in any other month since early 2008.
  • Spearphishing cyberattacks targeting corporate boards (Friday, June 24, 2016)
    Cybercriminals are using spearphishing attacks to target corporate boards of directors, according to cybersecurity firm Experian Information Solutions.
  • Fed: Bank holding company stress tests show improvement (Friday, June 24, 2016)
    The Federal Reserve said Thursday that its 2016 stress tests of 33 bank holding companies show an improved ability to lend during recessions and improved credit quality compared with the year before.
  • Hensarling releases CHOICE Act draft, eyes September mark-up (Friday, June 24, 2016)
    House Financial Services Committee Chairman Jeb Hensarling, R-Texas, released a discussion draft of the legislative text of the “Financial CHOICE Act” late yesterday. He also told reporters that he hopes to hold a mark-up of his Dodd-Frank alternative bill in September, according to Morning Consult.
  • NAFCU, 24 others urge reduced GSE loan-level price adjustments (Thursday, June 23, 2016)
    NAFCU, with 24 other trades, urged Federal Housing Finance Agency Director Mel Watt to further reduce or eliminate loan-level price adjustments charged by Fannie Mae and Freddie Mac, as these costs are often passed along to consumers through higher mortgage credit prices.
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