CUNA joined organizations in supporting the addition of the Secure and Fair Enforcement (SAFE) Banking Act to the House version of the FY23 National Defense Authorization Act (NDAA), which is scheduled for a House floor vote this week.
CUNA Senior Economist Dawit Kebede noted prices rose 9.1% year-over-year, higher than the consensus expectation, leading to a higher chance the Fed will raise interest rates by 75 basis points if not more by the end of the month.
Staff from NCUA and other federal financial regulators will conduct an interagency webinar focusing on recently issued 2022 Interagency Questions and Answers Regarding Flood Insurance. Registration is open for the free webinar, which is scheduled for July 27 from 2 to 3 p.m. ET.
Federal regulators issued an interagency joint statement noting credit unions must take a risk-based approach to assessing individual member risk. The statement does not alter existing Bank Secrecy Act/Anti-Money Laundering legal or regulatory requirements, nor does it establish new supervisory expectations.
The House and Senate are back in Washington D.C. this week. The House will consider legislation, including the National Defense Authorization Act for FY23. A House Small Business subcommittee will conduct a hearing on fintech and small business lending.
Credit Union Magazine’s Fall 2022 issue highlights credit unions’ role in cryptocurrency, the state of digital assets, cannabis banking compliance, the human side of technology implementation, and involving the board in financial discussions.