This week: NAFCU monitoring financial regulators, payday hearings
Ahead of a hearing Thursday where lawmakers are set to discuss the CFPB's proposed repeal of the payday lending rule, NAFCU and member credit unions will meet today with the bureau and NCUA to discuss the payday lending rule and credit unions' payday alternative loans (PALs) programs.
The House Oversight and Reform subcommittee hearing Thursday will examine the CFPB's role in empowering predatory lenders and the proposed repeal of its payday lending rule. While NAFCU believes regulators must crack down on bad actors, the association has expressed support for the payday rule delay and continues to urge the CFPB to expand its safe harbor for all future iterations of PALs. The association's advocacy led the bureau to take into account credit unions' concerns in the final rule and create a safe harbor for NCUA's PALs.
Also happening this week, the Senate Banking Committee on Wednesday will hear from Comptroller of the Currency Joseph M. Otting, NCUA Chairman Rodney Hood, FDIC Chairman Jelena McWilliams, and Vice Chair for Supervision, Board of Governors of the Federal Reserve System Randal Quarles to discuss oversight of financial regulators. The same panel goes before the House Financial Services Committee Thursday.
NAFCU will also monitor a Senate Committee on Small Business and Entrepreneurship hearing on the reauthorization of the Small Business Administration's (SBA) innovation programs set to begin at 2:30 p.m. Eastern Wednesday. The association works closely with the SBA to increase credit unions' participation in SBA lending programs in order to better serve their communities; the association met with the agency in March to discuss these efforts.
Last week, House Financial Services Chairwoman Maxine Waters, D-Calif., and Ranking Member Patrick McHenry, R-N.C., announced legislation that would extend the National Flood Insurance Program through September 30. Discussions are expected to continue in the House as the program is currently set to expire at the end of the month. A number of NAFCU-sought reforms for the program were discussed during a House Financial Services Committee hearing on its reauthorization in March.
Also happening this week:
- NAFCU is offering a webinar tomorrow focused on website and social media compliance violations. Register here.
- Tomorrow, NAFCU's Regulatory Committee will meet to discuss issues affecting credit unions.
- Tomorrow, the Senate Finance Committee will hold a hearing on challenges in the retirement system.
- Wednesday, a Senate Appropriations subcommittee will examine the Treasury Department's proposed budget estimates for fiscal year 2020.
- Thursday, NAFCU will meet at the Treasury Department to discuss the Telephone Consumer Protection Act (TCPA) and efforts to further clarify the definition of "autodialer" to ensure legitimate businesses such as credit unions can contact consumers without fear of breaking the law.
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Credits: NCCO, NCRM, NCVE, CPE
Add to Calendar 2019-09-19 14:00:00 2019-09-19 14:00:00 Financial Wellness: Addressing the Barriers to Retirement Readiness Watch the Webinar On-Demand About the Webinar Financial wellness, done right, is an employer-paid benefit, where employees have unlimited access to best-in-class financial coaching. Many credit unions offer financial education with the goal of helping their members live a financially secure life, but very few offer these same types of valuable tools to their own employees. When you help your employees by offering a financial wellness program that provides financial education and assistance, everyone wins. You get better productivity and less distraction among your staff. Learn how to bring comprehensive fiscal well-being to your employees by understanding the value of reducing employee financial stress at work, focusing on real behavior change, and measuring results. Web NAFCU firstname.lastname@example.org America/New_York public
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Add to Calendar 2019-09-19 10:00:00 2019-09-19 10:00:00 Management & Leadership Institute Prep NAFCU's Management and Leadership Institute provides students with an excellent foundation for becoming leaders now and in the future. The act of continued learning will build upon your new skills and experiences even more. But don’t wait until the Institute starts! Join Anthony Demangone, NAFCU’s EVP & COO, for this informative webinar as he reviews the day-to-day schedule, group work and the final project to help you get the most of your experience! Register Now Registration is free, but you must register to attend.One registration gives your entire team access to the live webinar and on-demand recording until September 19, 2020.Already registered? Go to the Online Training Center to view. Who Should Attend? Management and Leadership Institute 2019 registrants Education Credits No NAFCU Credits and No CPE Credits National Association of Federally-Insured Credit Unions (NAFCU) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. Learn more. About Our Webinars Our webinars are streamed live from NAFCU headquarters near Washington, D.C. 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
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