Links in “NAFCU”
- Americans Receive $7 Billion in Benefits Each Year Due to CU Tax Exempt Status
A detailed NAFCU study being sent to Congress today illustrates the beneficial role credit unions play in the U.S. economy. According to the study, all Americans, whether they are credit union members or bank customers, benefit from having credit unions competing in the marketplace by keeping loan rates and fees down and deposit rates higher. [2/20]
- Matz States that NCUA Will Seriously Consider Concerns About Proposed Risk-Based Capital Rule
During a webinar yesterday with CFPB Director Richard Cordray, NCUA Chair Debbie Matz stated that the Agency will give serious consideration to the comments its receives on the proposed risk-based capital rule. NAFCU Chief Economist, David Carrier, estimates that under the proposed rule credit unions with more than $50 million in assets will have to hold an additional $6.3 billion in additional reserves in order to maintain their current capital cushion. [2/13]
- Merchant Data Breaches Affected 13.9% of Credit and Debit Cards in 2013
NAFCU Chief Economist, David Currier, said the results of a recent association study are âstaggering.â Â According to the responders an average of 10,300 debit and credit cards (13.9% of their total portfolio) were affected by merchant data breaches last year alone. [2/11]
- NAFCU Urges Clarification on Diversity Policy
NAFCU is urging that the proposed interagency policy statement on diversity in the workplace be revised to make it clear that the proposed guidelines are not regulations or regulatory requirements and that examiners should not make a review of these policies part of their examination process. [2/10]
- Overview of CFPB’s Required Educational Brochures
NAFCU recaps the updated educational brochures that lenders are required to provide consumers at the time of certain loan applications. [2/3]
- NCUA Considers Recommendations from NAFCU’s “Dirty Dozen”
NAFCU reports on progress of efforts to ease regulatory burden, particularly the "Dirty Dozen," 12 regulations that the association finds particularly unnecessary and overly burdensome. [1/22]
- Berger Calls for National Data Protection Standards
Appearing on Foxâs âThe Willis Report,â Dan Berger, President/CEO of NAFCU, called on Congress to establish national data protection standards for retailers and merchants. Berger stated that credit unions are doing their part in protecting consumer information and now retailers need to do their part. [1/21]
- New Legislation Would Impose Breach Notification Requirements on All U.S. Businesses
Legislation is expected to be introduced in the Senate that would impose breach reporting and notification requirements on all U.S. businesses without imposing any additional duties on credit unions. Similar legislation is being considered in the House and has the support of both NAFCU and CUNA. [1/15]
- NAFCU Sets Top Priorities for 2014
Protecting the tax exemption and reining in burdensome regulations lead the list of priorities for NAFCU in 2014. The association also plans to focus on improvements to federal data security requirements for merchants, lowering the debit card interchange fees and continued access to the secondary mortgage market. [1/2]
- NAFCU Strongly Opposes Stress Testing for Large Credit Unions
Carrie Hunt, Vice President of Government Affairs and General Counsel for NAFCU, submitted a comment letter to NCUA in which she urges the Agency not impose stress testing on credit unions with assets of more than $10 billion. Hunt states that the requirement would have little beneficial impact and would set a dangerous precedent in dividing the credit union industry in this manner. [12/31]
