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NAFCU continues ‘Stop Big Bank Bullies’ campaign; Congress wraps up before holiday break
Last week NAFCU kicked off the “Stop Big Bank Bullies” campaign, a national digital campaign aimed at helping Americans understand and limit the influence Big Wall Street banks have over the economy. The campaign also highlights ways banks take advantage of consumers to make a profit and urges consumers to instead join a credit union. View more about NAFCU’s “Stop Big Bank Bullies” campaign.
Of note, next week the NCUA will hold a public briefing to discuss its proposed budget for 2022-2023. The proposed budget is roughly 1.2 percent higher than the 2021 budget. The association flagged several concerns with the proposal, including a substantial travel budget increase.
Congress is in session this week to discuss several items before it wraps for the holiday break. One item still in limbo is the 2022 National Defense Authorization Act (NDAA), currently awaiting a decision in the Senate. NAFCU shared with credit union members last week a letter from Sens. Mark Kelly, D-Ariz., Jacky Rosen, D-Nev., Gary Peters, D-Mich., Kevin Cramer, R-N.D., and Angus King, I-Maine, urging the Senate Armed Services Committee to include the NAFCU-backed Secure and Fair Enforcement (SAFE) Banking Act in the NDAA.
In addition, NAFCU’s CFO Summit starts Wednesday and will be held both in-person in Fort Lauderdale, Fla.. and virtually. Attendees will gain knowledge on what lies ahead for the credit union industry and how leaders can help guide their credit unions, staff, and members successfully during this time.
Also happening this week:
- today, comments on the CFPB's proposed rule amending its Regulation B to implement changes made by section 1071 of the Dodd-Frank Act to the Equal Credit Opportunity Act (ECOA) are due to NAFCU;
- tomorrow, comments on the Federal Accounting Standards Board's proposed accounting standards update related to troubled debt restructurings are also due to NAFCU;
- tomorrow, the House Financial Services Committee will meet to discuss digital assets and the future of finance, specifically reviewing the challenges and benefits of financial innovation;
- tomorrow, the Senate Finance Committee will hold a hearing to discuss privacy protection in the technology sector;
- Wednesday, responses to this month’s Economic & CU Monitor survey on regulatory and legislative hot topics are due; and
- Thursday, NAFCU will host a webinar on keeping open-end loan product advertising compliant.
Stay tuned to NAFCU Today for the latest out of Washington.