Straight to The Point: November 8, 2017

To make a donation to the credit unions, employees and volunteers affected by Hurricane Maria, visit the New York Credit Union Foundation’s donation page.

Good morning. Both the House and Senate are in session today. The House Ways and Means Committee is expected to continue its marathon markup of its tax reform legislation today. In the Senate, the Commerce, Science and Transportation Committee will hold a hearing titled “Protecting Consumers in the Era of Major Data Breaches.” In other news…

 Michael Ferraro will serve as the New York Credit Union Association’s new management consultant for credit unions in the Long Island, Westchester-Rockland and Metropolitan chapters – The Point

 As of Monday, only 42 percent of Puerto Rico’s power had been restored, and the island is still faced with a massive rebuilding effort. The New York Credit Union Foundation continues to receive dozens of grant applications each day from credit unions and individuals affected by the storm – The Point

 CUNA Mutual Group has released its October 2017 Credit Union Trends Report with data collected in August. The report found credit union loan balances increased 10.8 percent over a 12-month period – CUNA Mutual Group

 A recent study reveals a direct correlation between workplace culture and employee retention – CU Times

 Serious delinquencies on Federal Housing Administration loans popular among first-time home buyers have improved this year, but may be reaching a plateau – National Mortgage News

 A new tax plan could impact the speed of Federal Reserve rate hikes – CUToday

 The House is expected to vote within days on a bill renewing the federal flood insurance program after Republican leaders struck a deal over planned rate increases – The Hill

 Adding a verbal password or personal identification number is an effective way to add security to accounts – KrebsonSeccurity

 The CFPB’s beta version of a portal that financial institutions will use to report HMDA data is an important milestone towards implementing the regulations – New York’s State of Mind