Newsroom
House eyes defense bill, CFPB discrimination claims
May 19, 2014 – The House is set to vote on the 2015 National Defense Authorization Act this week, and a House Financial Services subcommittee will hear testimony from subpoenaed CFPB officials on Wednesday regarding claims about workplace discrimination at the agency.
Earlier this month, the House Armed Services Committee voted to preserve troop pay raises and benefits despite reductions urged by the Department of Defense to meet its required defense cuts as sequestration savings run out. NAFCU will monitor the bill's progress for developments affecting credit unions.
The House subcommittee's investigation into CFPB workplace issues was prompted by reports published in American Banker that cited a pattern of ranking white employees higher than minority employees, as well as accusations of a hostile work environment. The Subcommittee on Oversight and Investigations will hear from two CFPB managers during its hearing titled "Allegations of Discrimination and Retaliation within the Consumer Financial Protection Bureau, Part Two," on Wednesday morning.
NAFCU will monitor these and other developments on Capitol Hill this week, including:
- a House Financial Services Subcommittee on Financial Institutions and Consumer Credit hearing on "Legislative Proposals to Improve Transparency and Accountability at the CFPB";
- a House Financial Services Committee hearing on "Examining the Dangers of the [Financial Stability Oversight Council's] Designation Process and its Impact on the U.S. Financial System";
- a Senate Finance Subcommittee on Social Security, Pensions and Family Policy hearing on "Strengthening Social Security to Meet the Needs of Tomorrow's Retirees"; and,
- a House Energy and Commerce Subcommittee on Commerce, Manufacturing and Trade hearing on draft legislation to address abusive demand letters claiming patent infringement, and the potential markup of comprehensive patent reform legislation in the Senate Judiciary Committee.
Share This
Related Resources
Add to Calendar 2024-03-26 09:00:00 2024-03-26 09:00:00 Ensuring Safety and Soundness with AI Listen On: Key Takeaways: [03:48] The regulators are very focused on fairness in lending especially when it comes to using AI and outside models. The industry is moving very fast. [08:25] Articulating a business use case and how partnering with a Fintech can support it is the first step in having a successful conversation with your board. [10:30] Talk to your account executive at your Fintech and have them help you overcome objections. [15:01] Plan for oversight. It is not set and forget it. Your regulators are going to want to know how you are overseeing that from a 3rd party risk management standpoint. [15:47] Have a handle on your reserves and capacity for lending and start small and grow slowly. Web NAFCU digital@nafcu.org America/New_York public
Ensuring Safety and Soundness with AI
preferred partner
Upstart
Podcast
Help Ease Your Members' Loan Payment Concerns
Planning, Auto Loans, Research
preferred partner
TruStage
Blog Post
The Value of Risk Management in Cybersecurity
preferred partner
DefenseStorm
Video
Add to Calendar 2024-03-13 14:00:00 2024-03-13 14:00:00 Digital Assets in Credit Unions: What Are the AML Risks? The digital asset boom is upon us. Like it or not, you have to deal with it effectively with your members, credit unions are on the frontlines of crypto adoption. Even the NCUA has been providing more and more guidance on different aspects of digital assets. You need to be prepared. How? By understanding the core basics of digital assets (specifically cryptocurrencies) the risks that it poses to credit unions and how you can be better prepared to handle issues when they arise. In this webinar, Understanding the Digital Assets Boom, you’ll focus on the basics of digital assets, a background of cryptocurrencies and types, the regulations that are established and the proposals that are being considered and how to position yourself to understand all of these components and include them in your day-to-day roles. Key Takeaways Comprehend the basics of digital assets including cryptocurrencies Understand currently established regulations and what the future has in store, specifically in 2024 Identify and remediate issues that arise in your credit union 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 March 13, 2025Go to the Online Training Center to access the webinar after purchase » Who Should Attend NCCOs NCRMs Compliance and risk titles Education Credits NCCOs will receive 1.0 CEUs for participating in this webinar NCRMs will recieve 1.0 CEUs for participating in this webinar Web NAFCU digital@nafcu.org America/New_York public
Digital Assets in Credit Unions: What Are the AML Risks?
Credits: NCCO, NCRM
Webinar
Get daily updates.
Subscribe to NAFCU today.