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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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  • Feds to step up enforcement of marijuana laws (Monday, February 27, 2017)
    Financial institutions, including credit unions, that offer marijuana-related business accounts, should be aware that law enforcement agents are expected to enforce federal marijuana laws when coming into conflict with the now seven states and Washington, D.C., where recreational use of the drug is permitted.
  • New-home sales up 3.7% in January (Monday, February 27, 2017)
    New-home sales increased 3.7 percent in January, reaching 555,000 annualized units, and rose 5.5 percent from a year ago. NAFCU Research Assistant Yun Cohen said in Friday's Macro Data Flash report that sales have been trending up gradually in recent years.
  • Berger: CUs should not be under CFPB authority (Monday, February 27, 2017)
    NAFCU President and CEO Dan Berger highlights the downside of compromise, such as the one that led to CFPB authority over credit unions, in a Credit Union Journal editorial published Friday that also pledges NAFCU's continuing opposition and effort to win credit unions relief from CFPB rules.
  • McWatters plans full reg review, more budget control (Monday, February 27, 2017)
    NCUA Acting Chairman J. Mark McWatters said Friday he plans a "full regulatory review" with the goal of streamlining NCUA rules and eliminating unnecessary red tape.
  • NCUA touts resources for America, Military Saves Weeks (Monday, February 27, 2017)
    The NCUA on Friday highlighted its resources on saving and managing money – available through MyCreditUnion.gov and the Twitter account @MyCUgov – to help kick off America Saves Week and Military Saves Week, which begin today.
  • Webcast eyes vendor management, cybersecurity (Monday, February 27, 2017)

    Vendor management is an integral component of credit unions’ information technology and security risk management processes. A NAFCU on-demand webcast available tomorrow will review how vendors and service providers can positively – and negatively – Impact credit unions’ cybersecurity profiles.

     

  • Trump orders creation of reg relief task forces (Monday, February 27, 2017)
    President Donald Trump, in an executive order signed Friday, directed each federal agency to establish a regulatory reform task force to research all regulations in an effort to repeal or simplify those deemed most burdensome to the U.S. economy.
  • Congress returns for State of the Union, more (Monday, February 27, 2017)
    Lawmakers return to Congress this week for the president's State of the Union address and a House vote on the NAFCU-backed "SCRUB Act," both set for tomorrow.
  • CU of Texas' Lederer calls for Durbin amendment repeal (Monday, February 27, 2017)
    Price caps and other regulatory compliance requirements of the Dodd-Frank Act's Durbin amendment are harmful to non-profit credit unions and should be repealed, Credit Union of Texas CEO John Lederer says in an opinion piece published Friday by the Star-Telegram.
  • NCUA Board continues 18% usury cap; NCUSIF remains strong (Friday, February 24, 2017)
    The NCUA Board on Thursday voted to maintain federal credit unions' current usury cap ceiling at 18 percent – as urged by NAFCU – and heard a quarterly report on the National Credit Union Share Insurance Fund that showed the fund remained in good standing through the end of 2016.
  • Letter to FCUs: Operating fees due April 17 (Friday, February 24, 2017)
    Federal credit unions' operating fee payments are due to the NCUA April 17, the agency notes in its Letter to Credit Unions 17-FCU-01, published this month. The fee scale was raised 25.5 percent by the NCUA Board last November.
  • FHFA: House prices up 1.5% in 4Q (Friday, February 24, 2017)
    The Federal Housing Finance Agency House Price Index shows house prices rose 1.5 percent in the fourth quarter of 2016, the agency announced Thursday.
  • Mnuchin sets March 2 FSOC session (Friday, February 24, 2017)
    Treasury Secretary Steven Mnuchin yesterday announced plans for a March 2 executive, closed session of the Financial Stability Oversight Council but gave no indication whether the session will address review of the Dodd-Frank Act as directed in a Feb. 3 presidential executive order.
  • NCUA Board keeps 18% usury cap; NCUSIF remains strong (Thursday, February 23, 2017)
    The NCUA Board today voted to maintain federal credit unions' current usury cap ceiling at 18 percent – as urged by NAFCU – and heard a quarterly report on the National Credit Union Share Insurance Fund that showed the fund remained in good standing through the end of 2016.
  • At Strategic Growth: Millennials, relevancy risk and small data (Thursday, February 23, 2017)
    The final day’s program at NAFCU’s Strategic Growth Conference yesterday included a look at how credit unions can attract and engage the next generation of members, make greater use of risk management and the importance of “small” data.
  • NCUA updates stabilization fund Q&A (Thursday, February 23, 2017)
    The NCUA on Thursday updated its online "Questions and Answers" resource about costs related to the Temporary Corporate Credit Union Stabilization Fund, confirming that no future assessment charges to credit unions are likely.
  • NCUA Board eyes usury cap, NCUSIF report today (Thursday, February 23, 2017)
    The NCUA Board today will vote on the continuation of the federal credit union loan interest rate ceiling and receive a quarterly report on the National Credit Union Share Insurance Fund during its open board meeting.
  • Monitor: CUs concerned about fintech impact (Thursday, February 23, 2017)
    About three-fourths of credit unions that participated in NAFCU's February Economic & CU Monitor survey said they are "very" or "somewhat" concerned about the rise of fintech and its potential impact on the financial marketplace.
  • FHFA video explains duty-to-serve rule (Thursday, February 23, 2017)
    An overview of the Federal Housing Finance Agency's duty-to-serve rule is provided in a new three-minute video released Wednesday and led by Jim Gray, duty-to-serve program manager.
  • Long: FOMC minutes show panel remained 'noncommittal' (Thursday, February 23, 2017)
    Minutes from the Federal Open Market Committee meeting earlier this month show the committee remains "typically noncommittal" about a rate hike in March, according to NAFCU Chief Economist and Director of Research Curt Long.
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