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This week: NAFCU continues unwavering advocacy ahead of midterms
Next Tuesday, both the Senate and House will be up for grabs during the 2022 midterm elections. NAFCU continues to advocate for credit unions to ensure they have the proper tools needed to best serve their 134 million members.
NAFCU’s efforts to fight back against the Credit Card Competition Act (CCCA), currently introduced in both chambers, remain steadfast. The association continues to urge credit unions to use NAFCU’s Grassroots Action Center to speak out against the CCCA by sending a message to their lawmakers requesting them to oppose the harmful legislation. Credit unions are also encouraged to continue sending statements of opposition to the CCCA that can be used publicly in the media and with members of Congress to advocate against any last-minute attempt to move the unsound legislation forward.
Of note, NAFCU also encourages credit unions to utilize the association’s monthly and quarterly reports to stay informed and engaged on the latest economic trends. NAFCU Chief Economist and Vice President of Research Curt Long shares insights on the latest economic activity and how it impacts the credit union industry through several analyses.
The lineup of data and reports from NAFCU includes:
- Macroeconomic Data Flash Reports: Each report dives into the latest data from economic indicators in all facets of the economy, from retail sales and existing-home sales to consumer credit and the consumer price index, plus many more;
- Economic & CU Monitor: This monthly report combines the latest macroeconomic forecasts and insights along with trend data from NAFCU member credit unions through the Credit Union Sentiment Index – a monthly measure of credit union views on growth, loan conditions, and regulatory burden;
- CU Industry Trends: The quarterly report helps credit unions stay up-to-date with the latest key trends within the industry based on NCUA data and provides credit unions with greater perspective on their own credit union's progress; and
- Salary Comparison Report: This report provides a thorough review of staff salary data for credit union industry positions by state and metropolitan statistical area.
Also happening this week:
- Friday, comments to NAFCU on the NCUA’s proposed rule to make changes to member expulsion procedures bylaws of federal credit unions are due;
- tomorrow through Wednesday, the Federal Open Market Committee will hold its November meeting, where they are expected to impose another 75-point basis rate hike; and
- Thursday, the CFPB is hosting a joint meeting of its Credit Union Advisory Council and Community Bank Advisory Council to discuss the bureau’s Unified Regulatory Agenda and general scope of authority.
Stay tuned to NAFCU Today for the latest out of Washington.