This week: Congress avoids shutdown; NAFCU continues to fight for CU priorities
This week, NAFCU will continue to fight for industry priorities, most notably through fierce opposition of the House and Senate versions of the Credit Card Competition Act. Credit unions are encouraged to keep up the grassroots push against this legislation. On the Hill, late last week Congress adopted, and President Joe Biden signed, a continuing resolution to fund the U.S. government through Dec. 16.
NAFCU consistently advocates for continuous government funding to provide stability and certainty to credit unions and their members and will ensure credit unions are up-to-date on the latest regarding federal funding.
In addition to providing funding for federal agencies through Dec. 16, the stopgap bill extended the authorization for the National Flood Insurance Program (NFIP) through Dec. 16. NAFCU has supported the long-term reauthorization and continued modernization of the NFIP. Both the House and Senate now have no planned votes scheduled until after the November 8th midterm elections as members return home to campaign.
Of note, NAFCU will host its Q3 Member Webinar tomorrow, Oct. 4, at 4:00 p.m. Eastern, where NAFCU President and CEO Dan Berger and other association leaders will review the latest from Washington, including a recap of updates from the third quarter of 2022.
Here’s a look at other items on this week’s calendar:
- tomorrow, a NAFCU webinar titled “Avoiding Pitfalls with Social Media Communications” will review best practices for credit unions as they engage their members online;
- Wednesday, the NAFCU Digital Assets Working Group will meet;
- Thursday, the NAFCU Small Business Lending Working Group will meet; and
- also Thursday, the NCUA will host a virtual roundtable titled “How Credit Unions Empower Hispanic Consumers and Communities” in recognition of National Hispanic Heritage Month.
Stay tuned to NAFCU Today for the latest out of Washington.
Add to Calendar 2023-09-22 14:00:00 2023-09-22 14:00:00 Understanding Credit Card Portfolio Sales & Agent Programs Both credit union and bank credit card issuers are under intense pressure from various sources, including competitor innovation, significant internal resource commitments, increasing operating expenses, uncertain regulatory and economic environments and a variety of capital and liquidity constraints. This has led to about 80% of all banks offering credit cards under an ‘agent issuing’ model, where a third-party issues credit cards under the financial institution’s name. While hundreds of credit unions do the same, and interest in this option has increased in the last two years, the majority of credit unions still own and manage this product themselves. Deciding whether this option can meet strategic, financial and member needs can be difficult to untangle. In this webinar, Understanding Credit Card Portfolio Sales & Agent Programs, you’ll delve into the structure of such programs, the financial and risk-profile impacts of such a decision, the contractual commitments required of both parties and discover evaluation tips and processes for any credit union that would like to evaluate this path. Key Takeaways Discover the structure of the agent issuing concept and obligations of both parties Understand the financial impact of entering such a program to the balance sheet, income statement, and critical performance ratios Ascertain the impacts to members, including both positive and negative possibilities Review the accompanying contractual structures and key considerations Develop an evaluation process that best protects the credit union’s financial and other outcomes 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 September 22, 2024.Go to the Online Training Center to access the webinar after purchase » Who Should Attend COOs CFOs NCCOs and compliance titles NCRMs and risk titles General counsel staff Education Credits NCCOs will receive 1.0 CEUs for participating in this webinar NCRMs will recieve 1.0 CEUs for participating in this webinar CPA credit information is below; recommended 1.0 CPE credits. CPA Certification Credit Information Reviewer: Josie Collins, Senior Associate Director of Education, NAFCU Learning Objectives: See key takeaways Program Level: Basic Prerequisites Needed: None Advance Preparation Needed: None Delivery Method: Group Internet-Based Recommended CPE Credits: 1.0 credits Recommended Field of Study: Regulatory Ethics – Technical About Our Webinars Our webinars are streamed live from NAFCU headquarters near Washington, DC. Your audio/video feed of the presenters includes presentation slides and downloadable handouts. You can easily submit your questions to the presenters at any time during the live broadcast, with no dialing over the phone! The audio and video stream directly through your computer. Web NAFCU email@example.com America/New_York public
Credits: NCCO, NCRM, CPE
Get daily updates.
Subscribe to NAFCU today.