CUAid has been activated for credit unions and individuals impacted by Hurricane Harvey.

Good morning. Both the House and Senate are in session today. The Senate banking committee will hold a hearing to vote on the nomination of Joseph Otting to serve as the Comptroller of the Currency. Two subcommittees of the House Financial Services Committee will hold hearings as well. Here is what’s happening today:

 The Federal Financial Institutions Examination Council launched a new “Industry Outreach” website designed to share supervisory information with financial institutions, regulators, the public and other stakeholders – The Point

 Credit unions and chapters can once again offer college scholarships to deserving young members with the New York Credit Union Association’s annual, statewide Scholarship Program – The Point

 Reminder: The New York Credit Union Association’s member relations team is once again offering budgeting assistance to credit unions as a benefit of membership – The Point

 States and municipalities are busy implementing initiatives regulating employee pay, hiring and benefits such as retirement plans and insurance – CU Times

 Credit card interchange has exceeded overdraft revenue to become the top money maker among all service charges – CUToday

 The Department of Justice has dropped its appeal over the stalled Obama-era overtime rule that was expected to make 4 million workers newly eligible for time-and-a-half pay – Bloomberg

 Federal Reserve Board Vice Chairman Stanley Fischer will resign from the central bank next month – New York Times

 Cybercriminals have created a realistic-looking phishing campaign targeting Amazon Prime customers, which not only gains access to a customer’s account, but could also infect their computer or mobile device with malware – PYMNTS