WASHNGTON—NAFCU Regulatory Affairs Counsel Andrew Morris has provided feedback on a proposal to create a nonprofit association – the U.S. Faster Payments Council – that would coordinate the remaining implementation work identified by the Federal Reserve's payments task forces. NAFCU has served on the task forces since their inception in 2015.
WASHINGTON—Federal banking regulators are being urged to not move forward with a rulemaking to loosen Volcker rule requirements as doing so "would revive the risky trading practices that contributed to the Great Recession and fundamentally degrade the stability and liquidity of capital markets."
LANSING, Mich. — Following an unexpected flood in Michigan’s upper peninsula that has left many residents in dire need of help, the Michigan Credit Union League and the Michigan Credit Union Foundation have each pledged $10,000 to the victims.
LONDON—The U.K.’s Treasury Committee is calling for the “alpha male” culture in financial services to come to an end in a bid to help women in the sector to progress into senior roles.
ARLINGTON, Va.–In response to the Bureau of Consumer Financial Protection’s request for information on inherited regulations, NAFCU has sent a letter addressing specific areas where the regulatory burden can be lightened.
SEATTLE—BCFP Acting Director Mick Mulvaney said he is working to focus the Bureau on the law – no longer regulation by enforcement – so entities are "clear about what the rules of the road are."
WASHINGTON–The White House has asked Treasury Secretary Steve Mnuchin to identify and develop recommendations to overhaul the federal government’s financial literacy education efforts.
WASHINGTON—CUNA has updated its Military Lending Act (MLA) fee comparison spreadsheet for the second quarter of 2018.
HOBOKEN, N.J.–Upstart peer-to-peer payments solution Zelle has started to gain some ground on P2P market leader Venmo, which has been popular enough to become a verb among users.
