Straight to The Point: October 6, 2017

The New York Credit Union Foundation has activated its Disaster Relief Grants for cooperativas, staff and volunteers in Puerto Rico affected by Hurricane Maria. To make a monetary contribution, visit the Foundation’s donation page

Good morning. As a reminder, the New York Credit Union Association will be closed Monday, Oct. 9, for Columbus Day. This newsletter will resume publication Tuesday. There are no committee hearings or votes scheduled in the House or Senate today. Here is what’s happening on this Friday morning:

star3 Registration is open for the Association’s 2017 Marketing Conference, which will be held Nov. 2-3 in Saratoga Springs – NYCUA

star3 The CFPB yesterday finalized its rule on short-term, small-dollar lending – The Point

star3 Paula Stopera, president/CEO of CAP COM FCU, was recently appointed to Federal Reserve Bank of New York’s Community Depository Institutions Advisory Council – The Point

star3 The Small Business Administration has a relatively new program designed to quickly get funds into disaster-stricken areas, but many credit unions don’t know it exists – CU Journal

star3 Mastercard has developed an Early Detection System to help financial institutions act faster when fraud is suspected – CU Times

star3 Credit unions that have paid little attention to the so-called Basel rules because they don’t do business internationally may want to start paying attention, cautions WOCCU – CUToday

star3 House Financial Services Committee Chairman Jeb Hensarling, R-Texas, expressed support for a national standard for notifying individuals impacted by corporate data breaches – The Hill 

star3 The hype over real-time payments is strong among consumers, but for corporations and businesses, the excitement is more muted – PYMNTS

star3 Regulations extending the Military Lending Act to credit card transactions took effect this week, and credit unions should be aware of the additional disclosures that must now be provided – New York’s State of Mind










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