This week: NAFCU eyes economic growth hearing, CUAC meeting, patent case
NAFCU staff this week will be monitoring congressional hearings on the role of financial companies in fostering economic growth and how small businesses confront regulations, along with the CFPB's Credit Union Advisory Council meeting and a Supreme Court case regarding the patent system.
The Senate Banking Committee on Tuesday will discuss the role of financial companies in fostering economic growth. Witnesses for the 9:30 a.m. hearing include former Federal Reserve Gov. Robert Heller, former FDIC Chairman Donald Powell and Professor of Economics and Chief Economist of AFL-CIO William Spriggs.
Last week, Senate Banking Committee Chairman Mike Crapo, R-Idaho, and Ranking Member Sherrod Brown, D-Ohio, asked for legislative proposals to foster economic growth. NAFCU plans to submit recommendations.
The Senate Small Business and Entrepreneurship Committee is holding a hearing Wednesday examining how small businesses confront and shape regulations. The hearing, slated for 3 p.m. Eastern, includes witnesses from the National Association of Home Builders and the South Carolina Small Business Chamber of Commerce.
On Thursday, the CFPB's Credit Union Advisory Council meets to discuss alternative data and consumers' access to financial records. Several NAFCU-member representatives sit on the bureau's CUAC. NAFCU staff will attend the meeting.
On Monday, NAFCU Regulatory Affairs Counsel Ann Kossachev will attend Supreme Court arguments in a case regarding the patent system and the concentration of patent cases in plaintiff-friendly jurisdictions. The Wall Street Journal reported last week that the defendants in the case, various businesses that are mostly in the technology sector, are looking to the Supreme Court to curb what they say is "pervasive and pernicious forum shopping" by those who claim to own the patents and seek damages.
NAFCU has previously asked lawmakers for patent reform to address the issue of demand letters and deceptive patent troll behavior towards credit unions.
In other hearings this week:
- The House Financial Services Subcommittee on Financial Institutions and Consumer Credit will hold a hearing Tuesday titled "The State of Bank Lending in America."
- The House Small Business Committee on Wednesday will hold a hearing evaluating the Paperwork Reduction Act and if burdens are being reduced.
Also, NAFCU members are encouraged to register for the association's member call-in Wednesday, "NAFCU Q1 Advocacy Update." The call begins at 4 p.m. Eastern.
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Board and Governance
Add to Calendar 2023-06-06 14:00:00 2023-06-06 14:00:00 Avoiding and Resolving Harassment Claims: A Primer for Board Members The #me-too movement may have receded from the front of public consciousness, but the need to prevent and resolve harassment claims remains a key function for any employer. As community-oriented organizations, credit unions more than most feel a responsibility for the well-being of their members, employees and volunteers. This webinar, Avoiding and Resolving Harassment Claims: A Primer for Board Members provides both an introduction to the subject for board members, as well as selected deep dives on particular issues of interest to credit union volunteer boards. Key Takeaways Learn to identify the hallmarks of a situation in which it is appropriate for the board to become involved, as opposed to permitting effective resolution through normal human resources procedures Recognize the breadth of current law governing harassment claims, including newly prominent protected categories, the nature and severity of conduct which may constitute harassment, and the fact that conduct that may not rise to the level of a state or federal law civil rights violation may still violate the credit union’s own internal policies, procedures, and ideals, and be subject to appropriate discipline and remedial action Discover appropriate oversight roles for board officers, committee members including supervisory committee members, and other Board members, particularly in the context of passing along a report or complaint of harassment or inappropriate conduct 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 June 6, 2024.Go to the Online Training Center to access the webinar after purchase » Who Should Attend Board of director titles NCVEs and volunteer titles HR titles Education Credits NCVEs will receive 1.0 CEUs for participating in this webinar Web NAFCU firstname.lastname@example.org America/New_York public
Avoiding and Resolving Harassment Claims: A Primer for Board Members
Add to Calendar 2023-06-06 09:00:00 2023-06-06 09:00:00 Fighting Fraud: The Role of Fraud Fusion Centers Listen On: Key Takeaways: [00:56] The concept of a Fraud Fusion Center is a collaboration among professional fraud fighters. Anyone that has been doing this for a while forms a network of trusted advisors and we all go to each other anytime we come across some new or complex case. [02:50] Scams have always been around but the emergence of AI has made them far more sophisticated than we have ever seen before. [05:55] Person-to-person payment apps like Zelle, Venmo, and CashApp are not protected like debit and credit cards. [08:30] Every single time that new technology comes out that makes our lives better, fraudsters will find a way to exploit it. The current state of cyber fraud points credit unions in a lose-lose situation. [20:04] By identifying the information at one credit union and getting it out to others they are getting ahead of these threats. [22:19] Fraud Fusion Centers are critical. Formalize it and make it happen. Web NAFCU email@example.com America/New_York public
Fighting Fraud: The Role of Fraud Fusion Centers
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