Straight to The Point: March 22

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Good morning. Congress appears to be closing in on a $1.3 trillion spending deal. The Senate passed their version of the bill, and the House is scheduled to vote as early as today. The Legislature, which will also be in session today, is working toward meeting their own budget deadline of March 31. Here’s what else is happening today:

star3 The CFPB is seeking applicants for its Credit Union Advisory Council, which advises the bureau on the credit union industry – CFPB

star3 Dalton Mayfield, who held the position of board chairman at1199 SEIU FCU for more than 30 years, died last week – The Point

star3 CUNA Mutual Group released its annual “TruStage What Matters Now” consumer research, which revealed the unique makeup and preferences of today’s multicultural consumers – CUNA Mutual Group

star3 The Federal Reserve has raised funds rates multiple times the past two years, but credit unions and banks so far resisted raising deposit rates to match – CU Times

star3 A bipartisan group of U.S. senators is pushing legislation that would limit potential legal ramifications for financial institutions interested in serving the marijuana industry in states where it is legal – CUToday

star3 The Federal Reserve’s Secure Payments Task Force has published “Payment Lifecycles and Security Profiles,” which outlines the lifecycles, security characteristics and relevant laws and regulations for the most common payment types – PYMNTS

star3 The Federal Reserve raised interest rates on Wednesday and forecast at least two more hikes for 2018 – Reuters

star3 Many economists argue that the seeds of the next financial crisis are being sown today, even if it is several years before more obvious signs emerge – New York Times

star3 NCUA sent a letter to ESL FCU authorizing the Rochester-based credit union to offer escrow services for “lease security accounts” – New York’s State of Mind

 

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