Newsroom
This week: NAFCU active on Hill as Congress works to end gov't shutdown
The partial government shutdown has now become the longest funding gap in U.S. history. The House and Senate this week will continue work to try to come to an agreement to fund roughly a quarter of the government; the two chambers remain at odds over funding for President Donald Trump's requested wall along the U.S.-Mexico border.
In addition, a winter storm in the Washington area has closed other parts of the federal government and federal agencies. NAFCU's offices are also closed today, but staff remain available (find contacts here).
Credit union efforts to support members that have been furloughed or affected by the shutdown have gained national attention and drawn recognition from members of Congress. Some of the services include one-time loans to those whose pay will be disrupted, line-of-credit limit increases, deferred payments on existing loans, and short-term, reduced rate loans to help meet expenses during the shutdown, to name a few.
NAFCU remains active on Capitol Hill meeting with lawmakers to ensure credit union priorities – such as full funding for the NCUA's Community Development Revolving Loan Fund (CDRLF), Treasury's Community Development Financial Institutions (CDFI) Fund and the Small Business Administration's (SBA) 7(a) and 504 loan programs – are included in any solution.
Last week, the Democratic-controlled House passed a number of bills to provide full year funding for some departments and agencies, including Treasury, Transportation, Housing and Urban Development and Agriculture, as well as the IRS and Food and Drug Administration. Congress also cleared legislation that would give federal workers back pay once the shutdown ends.
The piecemeal strategy is an attempt to reopen most of the government while providing short-term funding for the Department of Homeland Security to allow Congress and the president time to come to a compromise on border security and immigration reform.
Also happening this week:
- congressional committee membership is still being finalized;
- the Senate Special Committee on Aging on Wednesday will hold a hearing on preventing elder fraud and abuse;
- NAFCU's Regulatory Compliance team on Thursday will provide credit unions with an update on recent guidance, rules and regulations from the NCUA and Bureau of Consumer Financial Protection (register here for the free webinar); and
- Thursday, the NCUA Board meets to discuss its 2019 annual performance plan and civil money penalty statutory inflation adjustment (read more here).
Share This
Related Resources
Add to Calendar 2024-05-06 14:00:00 2024-05-06 14:00:00 Overview of Regulation CC Join us for this webinar, Overview of Regulation CC, and you’ll delve into the intricacies of the Expedited Funds Availability Act and Regulation CC. This includes gaining invaluable insights on effectively implementing funds availability requirements, navigating the process of placing holds on deposited items and crafting comprehensive disclosures for your members. Don't miss this opportunity to enhance your understanding of regulatory compliance in the financial landscape. Key Takeaways Know the funds availability requirements Learn what must be included in disclosures Comprehend extended holds 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 April 18, 2025Go to the Online Training Center to access the webinar after purchase » Who Should Attend NCCOs NCRMs Compliance and risk titles Education Credits NCCOs will receive 1.0 CEUs for participating in this webinar NCRMs will recieve 1.0 CEUs for participating in this webinar Web NAFCU digital@nafcu.org America/New_York public
Overview of Regulation CC
Credits: NCCO, NCRM
Webinar
Add to Calendar 2024-05-03 14:00:00 2024-05-03 14:00:00 Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing About the Webinar In January 2024, Pentegra conducted a survey of retirement plan sponsors and their perspectives on retirement plan management and fiduciary outsourcing. The survey measured how sponsors are using fiduciary outsourcing to help better manage their retirement plans. It also captured their perspectives on what outsourcing does to help them better position their plans and drive improved retirement plan outcomes. Key Takeaways: What is the full scope of your responsibilities as a plan sponsor? What is fiduciary outsourcing and how does it work? How does fiduciary outsourcing help reduce workloads and minimize risk? How can a credit union best position its plan to drive improved outcomes? Register Here Web NAFCU digital@nafcu.org America/New_York public
Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing
preferred partner
Pentegra
Webinar
Add to Calendar 2024-05-03 09:00:00 2024-05-03 09:00:00 Blind Spots in the Boardroom Listen On: Key Takeaways: [04:19] For a board to change its practices first it needs to be committed to different outcomes. It takes about 30 times for a board to start to be in a new conversation before they start to get their brain rewired to embody the change [07:24] In merger conversations we lose sight of what is important for the member. We need to look at what the continuing organization will look like and what is the leadership the membership and continuing organization need and deserve. [12:39] An educated board and executive team are a sharper team. When you have sharper leaders in the organization good things come from that. [24:22] If we are not taking care of that relationship with the CEO then we are strategically hampered. With a good CEO evaluation, the board is higher performing, the CEO is more attentive to being high performing, and the relationship is high performing and more genitive. Web NAFCU digital@nafcu.org America/New_York public
Blind Spots in the Boardroom
preferred partner
DDJ Myers
Podcast
Ensuring Safety and Soundness with AI
Management, Consumer Lending, FinTech
preferred partner
Upstart
Blog Post
Get daily updates.
Subscribe to NAFCU today.