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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  • Early-bird savings for Lending Conference ends Friday (Wednesday, September 20, 2017)
    Credit union employees interested in attending NAFCU's Lending Conference can save $200 by registering for the conference with code LENDSAVINGS by Friday. The conference is Nov. 6-9 at The Saint Anthony Hotel in San Antonio.
  • Today: NAFCU at NCUA on small-dollar lending, PACE meeting on robocalls (Wednesday, September 20, 2017)
    NAFCU today will be at NCUA headquarters for a meeting on small-dollar lending and credit unions' involvement in such programs. It will also represent credit unions during a Professional Association for Customer Engagement (PACE) meeting regarding robocalls.
  • NAFCU providing inside look at reg landscape Sept. 29 (Wednesday, September 20, 2017)
    Credit unions can gain an insider view of what is new and upcoming on the regulatory front during a webcast available for viewing beginning Sept. 29. The webcast will be led by members of NAFCU's Regulatory Affairs team.
  • CUs urged to prepare for Hurricane Maria; resources available (Wednesday, September 20, 2017)
    Credit unions are again being advised to take precautions and ask for assistance if they need it as Hurricane Maria - currently a Category 5 storm - makes its way to the Virgin Islands and Puerto Rico.
  • Bloomberg: More uncertainty surrounds the Equifax breach (Wednesday, September 20, 2017)
    Three anonymous sources revealed to Bloomberg that Equifax knew of a data breach almost five months earlier than it publicly disclosed. The company has said that the March breach was not related to the July hack, but one of the sources said the incidents involve the same intruders.
  • FOMC starts 2-day meeting on rates today (Tuesday, September 19, 2017)
    The Federal Open Market Committee (FOMC), the Federal Reserve's monetary policy-setting arm, begins a two-day meeting today that is not expected to result in any interest-rate action but could signal the beginning of Fed balance-sheet reduction, according to NAFCU Vice President of Research and Chief Economist Curt Long.
  • CFPB issues arbitration rule small-entity compliance guide (Tuesday, September 19, 2017)
    The CFPB issued a small-entity compliance guide last week for its arbitration rulemaking that includes a rule summary and other information meant to help financial institutions comply. Compliance is required for pre-dispute arbitration agreements entered into on or after March 19, 2018.
  • NCUA announces new charter: Clean Energy FCU (Tuesday, September 19, 2017)
    The NCUA yesterday announced it granted a charter and federal share insurance for Clean Energy Federal Credit Union in Boulder, Colo. The credit union will serve 4,300 members of the American Solar Energy Society.
  • CUs, NAFCU discuss housing priorities with HUD's Carson (Tuesday, September 19, 2017)
    Credit unions' role in helping low-income consumers and how the industry and the Department of Housing and Urban Development (HUD) can work together to advance their goals were discussed by NAFCU-member credit unions and association senior staff during a meeting Monday with HUD Secretary Ben Carson.
  • NAFCU to Senate panel: CU tax exemption benefits entire economy (Tuesday, September 19, 2017)
    NAFCU reminded Senate Finance Committee leaders on Monday of the economic value the credit union tax exemption provides to the entire economy - estimated at more than $16 billion per year - ahead of hearing today on the corporate tax code.
  • No base closings included in $700B defense bill (Tuesday, September 19, 2017)
    The Senate on Monday passed a defense policy bill that, like the House version of the bill, doesn't include a request by Defense Secretary Jim Mattis to begin a new round of base closings in 2021. Secretary Mattis argued closing excess installations would save $10 billion over five years.
  • CFPB imposes $21.6M fine, cites UDAAP over student loan debt collection lawsuits (Tuesday, September 19, 2017)
    The CFPB took action yesterday against two companies and cited unfair, deceptive or abusive acts and practices (UDAAP) involving the filing or more than 2,000 illegal student loan debt collection lawsuits.
  • NAFCU Q3 member-only call focuses on advocacy victories (Tuesday, September 19, 2017)
    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.
  • Duffy to NCUA: 'Every dollar possible' should be returned to CUs (Monday, September 18, 2017)
    House Financial Services Subcommittee Chairman Sean Duffy, R-Wis., wrote the NCUA Board last week saying that "absolutely every dollar possible" should be returned to credit unions and urged the agency to "withdraw or amend" its current proposal to close the Temporary Corporate Credit Union Stabilization Fund (TCCUSF) to make sure this happens.
  • This week: NAFCU at NCUA, HUD; Senate committee reviews biz tax reform (Monday, September 18, 2017)
    NAFCU on Wednesday will be at NCUA headquarters for a meeting on small-dollar lending and credit unions' involvement in such lending programs.
  • CUs, NAFCU meet with HUD's Carson today on housing issues (Monday, September 18, 2017)
    NAFCU-member credit unions and association senior staff today are meeting with Housing and Urban Development Secretary Ben Carson at HUD headquarters to discuss credit unions' role in helping low-income individuals, affordable housing and the industry's priorities for housing finance reform.
  • Senators float idea of data security standard in light of Equifax breach (Monday, September 18, 2017)
    Senate Commerce, Science and Transportation Committee Chairman John Thune, R-S.D., said lawmakers should look into giving the Federal Trade Commission - the entity investigating the recent Equifax data breach - the leeway to possibly change its enforcement standards for protecting consumer data.
  • Retail sales decrease 0.2% in August, online sales decline (Monday, September 18, 2017)
    Total retail sales decreased 0.2 percent in August, in part due to a decline in online sales, NAFCU Research Assistant Yun Cohen said in a NAFCU Macro Data Flash report Friday.
  • NAFCU asks regulators to share Equifax details to help CUs (Monday, September 18, 2017)
    NAFCU's Carrie Hunt on Friday sent letters to the Federal Trade Commission, CFPB and NCUA requesting that they all work together to get to the bottom of the Equifax data breach and share their findings so credit unions can best help their members deal with this breach's impact.
  • Regulatory orders, reporting compliance focus of upcoming webcasts (Friday, September 15, 2017)
    Over the next two weeks, NAFCU will host two webcasts on issues critical to credit unions' operations: regulatory orders and consumer reporting compliance.
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