Straight to The Point: November 17, 2017

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Good morning, and happy Friday. Without the support of any Democrats and several New York Republicans, the House passed their version of a tax reform bill yesterday. The credit union tax status remained untouched. Separately, the Senate Finance Committee continued their consideration of their own tax reform legislation, but the bill faces an uncertain future in the full Senate. In other news:

star3 NCUA’s board of directors approved its 2018-2019 budget, as well as an updated Overhead Transfer Rate methodology, during yesterday’s board meeting – NCUA

star3 Credit unions in the Finger Lakes Chapters are warning their peers about an uptick in check fraud that may be tied to a nationwide fraud syndicate – The Point

star3 With another year of advocacy approaching, credit union leaders are encouraged to download and update their credit union information using Project Zip Code 14.0, a secure program that counts credit union members and matches them by state legislative district, congressional district and county – CUNA

star3 The House Financial Services Committee approved several bills that had been broken out of the Financial CHOICE Act – CU Times

star3 CFPB Director Richard Cordray’s announcement that he is leaving the bureau by the end of the month gives President Trump a significant opening to use appointment powers to roll back Cordray’s policies – CU Journal

star3 Most cybercrime employs social engineering, with techniques that are deliberately designed to people’s inherent vulnerabilities – CUToday

star3 In the state Senate, efforts are building to dismantle the Independent Democratic Conference and return control to mainstream Democrats – New York Times

star3 The Senate on Thursday confirmed former bank executive Joseph Otting to be comptroller of the currency – The Hill

star3 The New York’s State of Mind blog offers parting words for the outgoing CFPB director – New York’s State of Mind


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