Straight to The Point : November 3

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. Both the House and Senate are in session today. The House Financial Services Committee will hold a hearing entitled “Legislative Proposals to Improve Small Businesses’ and Communities’ Access to Capital.” In credit union news…

The House Ways and Means Committee released its tax reform legislation, and the credit union tax status remains untouched. However, there is still a long road ahead before any tax bill is finalized and signed into law – The Point

Recognition Round-Up: Bethpage FCU was named “the best place to bank in New York” by Money Magazine – The Point

The state Department of Financial Services will host a complimentary seminar on preventing elder financial exploitation Dec. 6 at 1 p.m. in White Plains, New York – The Point

President Donald Trump has nominated Jerome Powell to serve as the next chairman of the Federal Reserve – New York Times

State Attorney General Eric Schneiderman is pushing new legislation that would require companies that deal with New Yorkers’ sensitive data, no matter where they are headquartered, to adopt “reasonable” protections for data – Times Union

Trump also signed a resolution repealing the CFPB’s arbitration rule – HousingWire

Cybercriminals are increasingly assuming consumers’ identities, making fraud detection more difficult for credit unions – CU Times

The CFPB released a report on auto loan trends that found a sharp increase in riskier longer-term auto loans – CUToday