Newsroom
Berger in Fox Business: Americans should be concerned about risky banks
As the House Financial Services Committee held a hearing yesterday to examine a proposed merger between SunTrust and BB&T, NAFCU President and CEO Dan Berger – in an op-ed for Fox Business – encouraged lawmakers to focus on big bank riskiness.
"Ahead of the August recess, what lawmakers should be discussing [is] the economic impact of excessive, unbridled risk-taking by Wall Street banks," wrote Berger.
Berger also pressed lawmakers to discuss the potential benefits of a modern Glass-Steagall Act, as well as the economic concerns posed should big banks succeed in pushing for the removal of common sense restrictions that prevent improper, speculative trading under the Volcker Rule.
"Certain banks are hoping Congress will ignore the moral hazard of using taxpayers as a backstop for their speculative bets [in the absence of Glass-Steagall] and want regulators to reinterpret the [Volcker Rule] to loosen requirements, thereby reviving the same risky trading practices that contributed to the financial crisis and fundamentally degraded the stability and liquidity of our capital markets," Berger argued.
Last fall, Berger also appeared on The Hill TV's morning show "Rising" to request lawmakers consider a modern Glass-Steagall.
You can read Berger's full op-ed here.
In addition, NAFCU's Executive Vice President of Government Affairs and General Counsel Carrie Hunt sent a letter to the committee ahead of the hearing echoing many of Berger's comments, while also noting credit unions' "long track record" of good work serving their members and communities.
Share This
Related Resources
Tie-Breaker Ideas for Director Elections
Board and Governance
Blog Post
Add to Calendar 2023-06-06 14:00:00 2023-06-06 14:00:00 Avoiding and Resolving Harassment Claims: A Primer for Board Members The #me-too movement may have receded from the front of public consciousness, but the need to prevent and resolve harassment claims remains a key function for any employer. As community-oriented organizations, credit unions more than most feel a responsibility for the well-being of their members, employees and volunteers. This webinar, Avoiding and Resolving Harassment Claims: A Primer for Board Members provides both an introduction to the subject for board members, as well as selected deep dives on particular issues of interest to credit union volunteer boards. Key Takeaways Learn to identify the hallmarks of a situation in which it is appropriate for the board to become involved, as opposed to permitting effective resolution through normal human resources procedures Recognize the breadth of current law governing harassment claims, including newly prominent protected categories, the nature and severity of conduct which may constitute harassment, and the fact that conduct that may not rise to the level of a state or federal law civil rights violation may still violate the credit union’s own internal policies, procedures, and ideals, and be subject to appropriate discipline and remedial action Discover appropriate oversight roles for board officers, committee members including supervisory committee members, and other Board members, particularly in the context of passing along a report or complaint of harassment or inappropriate conduct Register Now$295 Members | $395 Nonmembers (Additional $50 for USB)One registration gives your entire team access to the live webinar and on-demand recording until June 6, 2024.Go to the Online Training Center to access the webinar after purchase » Who Should Attend Board of director titles NCVEs and volunteer titles HR titles Education Credits NCVEs will receive 1.0 CEUs for participating in this webinar Web NAFCU digital@nafcu.org America/New_York public
Avoiding and Resolving Harassment Claims: A Primer for Board Members
Credits: NCVE
Webinar
Add to Calendar 2023-06-06 09:00:00 2023-06-06 09:00:00 Fighting Fraud: The Role of Fraud Fusion Centers Listen On: Key Takeaways: [00:56] The concept of a Fraud Fusion Center is a collaboration among professional fraud fighters. Anyone that has been doing this for a while forms a network of trusted advisors and we all go to each other anytime we come across some new or complex case. [02:50] Scams have always been around but the emergence of AI has made them far more sophisticated than we have ever seen before. [05:55] Person-to-person payment apps like Zelle, Venmo, and CashApp are not protected like debit and credit cards. [08:30] Every single time that new technology comes out that makes our lives better, fraudsters will find a way to exploit it. The current state of cyber fraud points credit unions in a lose-lose situation. [20:04] By identifying the information at one credit union and getting it out to others they are getting ahead of these threats. [22:19] Fraud Fusion Centers are critical. Formalize it and make it happen. Web NAFCU digital@nafcu.org America/New_York public
Fighting Fraud: The Role of Fraud Fusion Centers
Security, Fraud, Risk Management
preferred partner
DefenseStorm
Podcast
The CFPB Announces Final Judgement Against Bank for Regulation Z Violations
Board and Governance
Blog Post
Get daily updates.
Subscribe to NAFCU today.