Good morning. The Senate banking committee will meet in executive session today to consider the nomination of Jerome Powell as Federal Reserve chairman and S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act—legislation the New York Credit Union Association and CUNA strongly support. The House is also in session. Closer to home, the Assembly Committee on Governmental Operations will hold a hearing to examine the state Minority and Women-Owned Business Enterprise Program. In other news:
The New York Credit Union Association has mailed its 2018 membership packet to all member credit unions – The Point
The New York Credit Union Association’s board of directors approved the Association’s 2018 state legislative agenda – The Point
Reminder: Credit union supporters can shop, search and help raise money for the New York Credit Union Foundation this holiday season through the Foundation’s partnerships with AmazonSmile, GoodSearch and GoodShop – Foundation
The Federal Housing Finance Agency is in deep discussions with the White House over what to do with more than $7 billion owed to the government at year-end by Fannie Mae and Freddie Mac – CU Times
A website that indexed and sold access to billions of usernames and passwords stolen in some of the world’s largest data breaches was taken down in a law enforcement sting – KrebsOnSecurity
Federal Reserve Vice Chairman for Supervision Randal Quarles said regulators have a bigger role to play in preventing cybercrime and should focus more on connecting financial institutions with national security agencies – American Banker
The path to a Democratic majority in the state Senate might not be as straight-forward as previously thought – Times Union
The Senate’s passage of a tax overhaul provides the chamber with the upper hand headed into conference committee negotiations with the House – Roll Call
Recent court cases indicate that employers may have more flexibility than previously thought under the Americans with Disabilities Act when it comes to granting unpaid leave to employees – New York’s State of Mind