November 18, 2019

This week: NAFCU Board leads CU advocacy at NCUA, Fed

Federal ReserveThe NAFCU Board of Directors is in Washington this week and is set to meet with NCUA Board Chairman Rodney Hood and Federal Reserve Board Governor Michelle Bowman to ensure credit union priorities and concerns are heard at the highest levels of government.

Both meetings will happen Thursday. While meeting with Hood, NAFCU board members will share feedback on how the NCUA's rulemakings and priorities are affecting their institutions and what issues credit unions would like addressed (see NAFCU's priorities for the NCUA Board). At the Fed, NAFCU board members will relay insights from the association's Annual Report on Credit Unions and how credit unions are utilizing current and proposed Fed services.

In addition to meeting with the NAFCU board, Hood and NCUA Board Members Todd Harper and Mark McWatters will hear from NAFCU Chief Economist and Vice President of Research Curt Long Wednesday during the agency's hearing on its proposed 2020-2021 budgets. NAFCU has long supported public budget briefings to help ensure transparency and accountability in the budgeting process, and has urged the agency to remain committed to eliminating inefficiencies and redundancies in its operations.

The NCUA Board holds its November meeting Thursday; see what's on the agenda.

The House and Senate are also in session this week working to avert a federal government shutdown before current funding expires Thursday; lawmakers are expected to pass a one-month extension while continuing discussions on longer-term funding bills. NAFCU is also monitoring the National Defense Authorization Act (NDAA) conference committee for release of the final text to ensure the credit union-opposed provision related to nominal leases is not included.

Also happening on Capitol Hill this week:

NAFCU is offering two webinars this week: one on the SAFE ACT and another on Bank Secrecy Act challenges and dealing with current fraud schemes.