Straight to The Point: July 7, 2017

Good morning. The House Financial Services Committee announced that Federal Reserve Chair Janet Yellen will appear before the Committee on July 12. Both the House and Senate are off today. Here are this morning’s headlines:

 Four credit unions have recently affiliated or re-affiliated with the New York Credit Union Association – The Point

Thomas Diana, a longtime volunteer leader and former Municipal CU board chairman, passed away this week – The Point

 The early bird deadline to register for the Catskill-Hudson, Metropolitan and Westchester-Rockland Chapters’ golf outing has been extended to July 14. Proceeds from the event – which includes lunch and dinner – will benefit CUPAC, the Association’s statewide political action committee – NYCUA

 Effective at the end of July, Fannie Mae said its automated underwriting solution will begin approving loans with debt-to-income ratios as high as 50% without “additional compensating factors.” – CUToday

 The U.S. Labor Department urged a federal appeals court to largely uphold Obama-era regulations that confronted conflicts of interest in the retirement-investment market – CU Times

 U.S. private employers hired fewer workers than expected in June and applications for unemployment benefits last week increased for a third straight week, pointing to some loss of momentum in job growth – Reuters

 A coalition of businesses is urging senators to keep the tax deduction for companies’ interest expenses as lawmakers seek recommendations from industry groups on how best to overhaul the tax code – The Hill

 Travel industry giant Sabre said an intruder using stolen account credentials for its widely-used reservations software had access to payment card details and personal information over a seven-month period – CUinfoSecurity