Newsroom
NAFCU shares support for bill to increase veterans’ access to financial services
NAFCU Vice President of Legislative Affairs Brad Thaler Tuesday wrote to the House Veterans’ Affairs Committee ahead of today’s hearing to voice the association’s support for the draft legislation, Building Credit Access for Veterans Act of 2022. This draft mirrors legislation introduced in the Senate last year (S. 1838).
"NAFCU’s members, particularly defense credit unions, take special pride in serving veterans, and this measure will help increase economic opportunity and make the financial system more inclusive," wrote Thaler.
In the letter, Thaler outlined the significance of the draft legislation, noting that NAFCU and its member credit unions have long advocated for the use of alternative credit scoring models that accurately identify creditworthy borrowers who would be excluded by traditional credit reporting.
“Using more and better information to improve credit scoring for loans guaranteed by the Department of Veterans Affairs will also strengthen credit unions’ unique relationships with their members and increase veterans’ access to affordable financial products and services, including home mortgages,” added Thaler.
Of note, Anthony Hernandez, President and CEO of the Defense Credit Union Council (DCUC), expressed similar sentiments in a letter to the Committee, hoping that the bill “will pass and help craft a regulatory environment focused on protecting our veterans from taking on loans with higher interest rates or worse, settling for sub-standard housing.”
Read the letter. NAFCU will monitor the hearing, set for 10:00 a.m. Eastern, and will continue to advocate for a healthy regulatory environment where credit unions are able to best provide members with access to credit.
Share This
Related Resources
Resiliency In Your Incident Response Plan
Cybersecurity
preferred partner
DefenseStorm
Blog Post
The Bottom Line on Insurance Tracking and Collateral Protection
Strategy
preferred partner
Allied Solutions
Blog Post
Add to Calendar 2024-04-15 09:00:00 2024-04-15 09:00:00 Mergers and Acquisitions: Unifying Two Different Executive Total Compensation and Benefits Programs Listen On: Key Takeaways: [03:50] With the merger of a smaller credit union into a larger one you are really only dealing with integrating staff into the larger credit union. [05:53] When working with a merger of equals we start with a deep dive into the executive compensation and benefits of each organization. [09:09] If your current executive benefits provider doesn’t conduct regular plan evaluations, consider having a plan audit anyway. [13:46] Don’t overpay for these things if you don’t have to. When you have more options available that means the cost is more appropriate. [17:11] It is in a unified organization’s best interest to do tier timelines where we look at your top executives who are critical to the unified organization’s success today and then slowly add in the next levels. Web NAFCU digital@nafcu.org America/New_York public
Mergers and Acquisitions: Unifying Two Different Executive Total Compensation and Benefits Programs
preferred partner
Gallagher
Podcast
Add to Calendar 2024-04-11 14:00:00 2024-04-11 14:00:00 Regulation E: Impacts Across Your Institution Dive into regulatory excellence with, Regulation E: Impacts Across Your Institution. This webinar is tailored to empower you with the knowledge and strategies necessary to effectively implement the Electronic Funds Transfer Act (EFTA) and Regulation E within your operations. You’ll explore how to apply Regulation E across various business areas to ensure compliance obligations are met with precision. Key Takeaways Learn the basics of EFTA and Regulation E Understand how to apply Regulation E at your organization to detect processes and transactions that require Regulation E compliance Discover how Regulation E may apply to a large breath of areas in your institutions and functions for which you may rely on third-party vendors Review recent enforcement activity for non-compliance with EFTA and Regulation E 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 April 11, 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
Regulation E: Impacts Across Your Institution
Credits: NCCO, NCRM
Webinar
Get daily updates.
Subscribe to NAFCU today.