Straight to The Point: January 3

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Good morning. Busy day on the advocacy front: The Legislature convenes, the U.S. Senate returns, the House will meet in a pro forma session to convene the second session of the 115th Congress, and Gov. Andrew Cuomo will provide his State of the State address in Albany. Staff from the New York Credit Union Association will be at the state Capitol for the events. In other news…

star3 The Association’s January webinars kick off today, and as a reminder, the Association will be providing each member credit union with complimentary access to two webinars in 2018 as a benefit of membership – NYCUA

star3 The state Department of Financial Services recently issued a notice to set the minimum interest rate to be paid by state-chartered financial institutions—including credit unions—on escrow accounts in connection with loans secured by mortgages on one-to-six family residences – The Point

star3 The CFPB launched a HMDA Check Digit Tool and Rate Spread Calculator, which will remain available to financial institutions throughout the 2018 collection period to support calculation of data field values required for reporting HMDA data – CFPB

star3 Malvertising—the process of exploiting online advertising by inserting malicious or malware-laden ads into genuine advertising networks and webpages—made a comeback in the third quarter of 2017 – CU Times

star3 November new home sales rose 17.5 percent from October, marking the fastest sales pace since July 2007 – CUToday

star3 The Federal Reserve Bank of New York is in the difficult position of seeking a new president, who will have a permanent vote on monetary policy – American Banker

star3 Andrew Cuomo and the state Legislature face difficult choices this legislative session, with an estimated $4.4 billion to $6.3 billion deficit, the loss of federal aid and declining state tax revenues – Newsday

star3 Card fraudsters are increasingly targeting smaller and mid-sized merchants, while simultaneously making it more difficult for financial institutions to determine exactly where the breach occurred – KrebsOnSecurity

star3 Back from its winter recess, the New York’s State of Mind blog touches on a variety of recent legislative, regulatory and government happenings – New York’s State of Mind

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