This week: Congress out, NAFCU continues to keep CU priorities top of mind
Congress remains in recess this week and NAFCU continues to advocate on behalf of credit unions on top priorities, including interchange, the National Defense Authorization Act, credit union tax exemption, regulatory relief, and more.
Last week, the Supreme Court struck down President Joe Biden’s student loan forgiveness plan. In a 6-to-3 decision, Chief Justice John Roberts wrote that a mass debt cancellation program of such significance required “clear congressional authorization.” Biden denounced the court ruling Friday and said he would “announce new actions to protect student loan borrowers.” NAFCU will monitor the administration’s movement on this issue and keep credit unions informed of any policies or trends that could impact the industry.
On interchange, NAFCU continues to keep up the fight against legislation sought by big box retailers to expand interchange routing requirements and limits to credit cards. Credit unions are encouraged to take action via NAFCU’s Grassroots Action Center – featuring direct outreach to lawmakers on key issues, bill trackers, lawmakers’ contact information, and more.
At NAFCU, tomorrow the association will hold a webinar on Bank Secrecy Act (BSA) training for credit union staff, hosted by DuPont Community Credit Union BSA/Compliance AVP Stephanie Painter. The training will help staff navigate this often-difficult topic confidently and will act as the perfect introduction to BSA. Register now.
Also happening this week:
- the Community Development Financial Institution (CDFI) Fund’s recently established CDFI Certification Subcommittee is set to hold a virtual public meeting Friday to present recommendations on the process to revise the CDFI Certification Application; and
- the deadline to apply for this round of NCUA Community Development Revolving Loan Fund (CDRLF) grants is Friday.
Add to Calendar 2023-11-30 09:00:00 2023-11-30 09:00:00 Safeguarding Credit Unions with Threat Intelligence Listen On: Key Takeaways: [1:01] What is threat intelligence, and why is it important to CUs? [2:14] What are threat intelligence feeds, and what role do they play in strengthening CUs? [4:41] Leveraging threat feeds and integrating intelligence into tools is crucial. [6:35] Learn what threat CUs should be most concerned about. [7:39] Phishing is ever-evolving, and user awareness is critical. [10:43] Learn how Defense Storm uses feeds to protect its customers. [13:28] Threat intelligence is not as complicated as some think; initiation can be easy through Slack, discussions, and a reporting culture. Web NAFCU firstname.lastname@example.org America/New_York public
Add to Calendar 2023-11-28 09:00:00 2023-11-28 09:00:00 Growing Creatively & Innovatively in 2024 Listen On: Key Takeaways: [0:58] What can credit unions do to best prepare themselves for 2024? [2:12] Although he sees a glimmer of hope, Jack points out that the liquidity crisis and slow prepayment speeds hamper rapid recovery. [5:22] We discuss how credit unions seek low loan growth through member-centric strategies such as second mortgages and home improvement lending. [7:34] Credit unions are leveraging advancing technology for member-focused engagement. [9:31] How will technology continue to evolve and affect credit unions? [11:43] What role does AI play in innovative growth? [14:14] Credit unions adopt technology for efficiency, enabling staff to focus on personalized member interactions, especially with younger generations. [17:14] Closing thoughts, emphasizing competition against banks and fintech for younger generations. Web NAFCU email@example.com America/New_York public
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