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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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  • NAFCU's O'Brien to CUs: Get involved in advocacy efforts next week (Friday, May 26, 2017)
    Lawmakers will head home for a one-week recess next week, and NAFCU Director of Political Affairs Dan O'Brien is urging credit unions to reach out on top industry issues, including a continued push for regulatory relief.
  • TCCUSF up $43.8M in Q1; no further assessments expected (Friday, May 26, 2017)
    The Temporary Corporate Credit Union Stabilization Fund added $43.8 million to its net position during the first quarter of 2017, ending at $1.6 billion, according to a report by NCUA Chief Financial Officer Rendell Jones during Thursday's NCUA Board meeting.
  • NAFCU's offices closed Monday for Memorial Day (Friday, May 26, 2017)
    NAFCU's offices are closed May 29 for Memorial Day, but members will still have access to the association's website for research purposes, event registrations and email contacts with NAFCU.
  • NCUA Board issues merger, exam appeal proposals; NAFCU seeking feedback (Friday, May 26, 2017)
    The NCUA Board on Thursday issued three separate proposals regarding mergers and the exam appeals process. Of note to credit unions, the merger proposal would require additional compensation disclosures and more member-to-member communications.
  • NAFCU raises concerns about CFPB's HMDA amendments (Friday, May 26, 2017)
    NAFCU Regulatory Affairs Counsel Andrew Morris on Thursday raised the association's concerns about the CFPB's proposed amendments to its Home Mortgage Disclosure Act rule, noting that the amendments do not offset the rule's "tremendous operational challenges."
  • FHFA requests input on language challenges to credit access (Friday, May 26, 2017)
    The Federal Housing Finance Agency is requesting public input on issues facing qualified mortgage borrowers with limited English proficiency (LEP) and how credit access for such borrowers could be improved.
  • FASB to hold public meeting on CECL (Friday, May 26, 2017)
    The Financial Accounting Standards Board's Transition Resource Group for Credit Losses will hold a public meeting in Norwalk, Conn., June 12 to hear concerns on the current expected credit loss accounting standard.
  • NAFCU highlights MLA compliance problems (Friday, May 26, 2017)
    NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt, in a letter to the Defense Department Thursday, emphasized the association's continued concerns about the difficulties of Military Lending Act compliance and urged more guidance.
  • Luetkemeyer introduces anti-Choke Point bill (Friday, May 26, 2017)
    Federal regulators would be required to give a material reason for ordering financial institutions to terminate account relationships, essentially blocking Operation Choke Point, under NAFCU-backed legislation introduced Thursday by House Financial Services Subcommittee on Financial Institutions and Consumer Credit Chairman Blaine Luetkemeyer, R-Mo.
  • NCUA Board issues merger, exam appeal proposals; NAFCU seeks CU feedback (Thursday, May 25, 2017)
    The NCUA Board on Thursday issued three separate proposals regarding mergers and the exam appeals process. Of note to credit unions, the merger proposal would require additional compensation disclosures.
  • New NAFCU CU Sentiment Index responses due June 2 (Thursday, May 25, 2017)
    NAFCU is creating a new Credit Union Sentiment Index, which will reflect association's members' views on prospects for credit union growth, loan conditions and regulatory burden. The index, based on credit unions' survey responses, will appear in NAFCU's monthly Economic & CU Monitor.
  • Berger praises McWatters' call for CU exemption from CFPB rules (Thursday, May 25, 2017)
    NAFCU President and CEO Dan Berger on Wednesday praised NCUA Acting Chairman J. Mark McWatters' call in a letter to CFPB Director Richard Cordray to use the exemption authority under Section 1022 of the Dodd-Frank Act with respect to credit unions "whenever possible."
  • Long: FOMC ready for rate hike in June (Thursday, May 25, 2017)
    NAFCU Chief Economist and Director of Research Curt Long said yesterday that the Federal Open Market Committee appears ready to increase the federal funds target rate in June, judging from the committee's May meeting minutes.
  • Havens, Boles, Maclean to keynote 50th Annual Conference and Solutions Expo in Honolulu (Thursday, May 25, 2017)
    Keynote speakers Jeff Havens, retired Army Maj. Gen. Vinny Boles and John Maclean will provide insights and inspiration to motivate credit union leaders to reach their greatest potential during NAFCU's 50th Annual Conference and Solutions Expo, June 13-16 in Honolulu.
  • Existing-home sales dip 2.3% in April (Thursday, May 25, 2017)
    Existing-home sales retreated 2.3% in April after reaching a 10-year high in March. NAFCU Research Assistant Yun Cohen said despite the dip, April sales were still 1.6% higher than year prior according to a Macro Data Flash report.
  • Appeals court hears oral arguments in PHH v. CFPB (Thursday, May 25, 2017)
    NAFCU Director of Regulatory Affairs Alexander Monterrubio monitored oral arguments Wednesday in the PHH Corp. lawsuit against the CFPB at the U.S. Court of Appeals for the D.C. Circuit. With arguments concluded, the next step is for the court to rule, which could take several months.
  • Removal of Durbin repeal slated prior to CHOICE Act action in House (Thursday, May 25, 2017)
    In action not wholly unexpected, reports Wednesday said House Financial Services Chairman Jeb Hensarling, R-Texas, has decided to remove the Durbin amendment repeal provision from the Financial CHOICE Act before the measure reaches the House floor.
  • Merger proposal, TCCUSF update slated for NCUA Board today (Thursday, May 25, 2017)
    The NCUA Board today will hear an update on the Temporary Corporate Credit Union Stabilization Fund and consider proposals dealing with voluntary federal credit union mergers, agency appeals procedures and the Supervisory Review Committee during its open meeting.
  • NAFCU, others urge CFPB for more comment time on small-biz lending (Thursday, May 25, 2017)
    NAFCU, with 12 other trade associations, asked the CFPB Tuesday for more time to comment on its request for information regarding the small-business lending environment. The trades requested a 60-day extension, which would push the comment deadline from July 14 to Sept. 12.
  • Berger hails McWatters' call for CU exemption from CFPB rules (Wednesday, May 24, 2017)
    NAFCU President and CEO Dan Berger today praised NCUA Acting Chairman J. Mark McWatters' call in a letter to CFPB Director Richard Cordray to use the exemption authority under Section 1022 of the Dodd-Frank Act with respect to credit unions "whenever possible."
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