BRIEFLY: Earl announces retirement as leader of three-state league; Inflation raises interest-rate risk concern; New debt collections rules now in force; NASCUS 101 next week; Welcome new member Michigan State U. FCU
(Dec. 3, 2021) Mountain West Credit Union Association President and CEO Scott Earl announced his retirement this week, saying he will step down at the end of June next year. He has been leader of the association, which represents Arizona, Colorado and Wyoming, since 2011 … While inflation is expected to ease off, a chance of persistently high inflation could lead Federal Reserve policymakers to increase interest rates, placing credit unions in the position of paying closer attention to interest-rate risk, NCUA Board Chairman Todd Harper said this week. Speaking to state association/league leaders via a remote broadcast, Harper said that – although the yield curve is expected to steepen — a flat yield curve would put downward pressure on credit union net interest margins. “The ability to manage interest rate risk will remain a crucial determinant of credit union performance going forward,” Harper said. “To remain on a sound footing, credit unions will also need to continue to pay careful attention to capital, asset quality, earnings, and liquidity” … New debt collection rules adopted by CFPB earlier this year went into effect this week, the agency noted in a blog entry, laying out key points to know about the regulation. According to bureau, the new rules clarify how debt collectors can communicate with borrowers, including what information they’re required to provide at the outset of collection about the debt. The agency said the rules also outline rights of borrowers in debt collection, and how they can exercise those rights … Don’t forget next week’s (Dec. 9 at 2 p.m. ET) NASCUS 101 — a free, short webinar where participants learn from the NASCUS team how to make the most of an association membership. Among the topics addressed: What NASCUS is, how NASCUS contributes to the entire credit union industry, how to engage in the regulatory and legislative processes, collaboration with peers, committee and working group involvement, customized communications and more. The webinar is open to all members and prospective members. While it is free to participate, registration is required … Welcome to NASCUS membership Michigan State University Federal Credit Union of East Lansing; led by president & CEO April Clobes; the credit union holds $6.5 billion in assets.
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