Newsroom
NAFCU engaged as lawmakers continue digital assets discussion
The House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion holds another hearing today to discuss digital assets and regulatory gaps in the market.
Ahead of today’s hearing, NAFCU Vice President of Legislative Affairs Brad Thaler reiterated the association’s call for a clear regulatory framework, as well as ensuring credit unions are included in any definition of an insured depository institution.
“Establishing barriers to credit union engagement with digital assets would also undercut many of the financial inclusion benefits that may be realized through related technologies given that the credit union industry has a long history of prioritizing the needs of underserved and low-income communities,” Thaler wrote.
A hearing held by the subcommittee last week focused on stablecoins; NAFCU provided feedback on the draft bill under consideration, noting it’s “a step in the right direction.” There was broad agreement among lawmakers that prudential regulations are needed.
Earlier this week, an updated version of draft stablecoin legislation from House Financial Services Committee Chairman Patrick McHenry, R-N.C., was released. The revised draft would provide state regulators more authority to charter and create rules for stablecoin issuers within their jurisdiction, though issuers could still be subject to Fed enforcement actions.
NAFCU will continue to advocate for a clear regulatory framework for cryptocurrency and other financial technologies to support innovation and adoption while reducing risks.
Share This
Related Resources
Add to Calendar 2024-06-26 14:00:00 2024-06-26 14:00:00 Gallagher Executive Compensation and Benefits Survey About the Webinar The webinar will share trends in executive pay increases, annual bonuses, and nonqualified benefit plans. Learn how to use the data charts as well as make this data actionable in order to improve your retention strategy. You’ll hear directly from the survey project manager on how to maximize the data points to gain a competitive edge in the market. Key findings on: Total compensation by asset size Nonqualified benefit plans Bonus targets and metrics Prerequisites Demographics Board expenses Watch On-Demand Web NAFCU digital@nafcu.org America/New_York public
Gallagher Executive Compensation and Benefits Survey
preferred partner
Gallagher
Webinar
AI in Action: Redefining Disaster Preparedness and Financial Security
Strategy
preferred partner
Allied Solutions
Blog Post
Add to Calendar 2024-06-21 09:00:00 2024-06-21 09:00:00 2024 Mid-Year Fraud Review Listen On: Key Takeaways: [01:16] Check fraud continues to be rampant across the country. Card fraud is affecting everyone. [04:31] Counterfeit US passport cards are just another new toolbox in the bad actors’ toolbox. [07:21] Blocking the fallback is the only way to defeat counterfeit cards. [11:17] The best way is constant education to your members in as many channels as you can. [13:02] We are still seeing overdraft lawsuits. Make sure the programming you have at your credit union matches what you have displayed for the members. Web NAFCU digital@nafcu.org America/New_York public
2024 Mid-Year Fraud Review
Strategy & Growth, Consumer Lending
preferred partner
Allied Solutions
Podcast
Get daily updates.
Subscribe to NAFCU today.