3 THE NAFCU JOURNAL May–June 2023 20 12 FEATURES 12 How CDFI Changes Could Affect Participation NAFCU raises member concerns about proposals 20 Protecting Older Members Education and awareness are key to preventing financial exploitation 27 Centralized BOI Database May Streamline Account Openings Additional rules expected to clarify access, use and compliance with CDD rule COLUMNS 5 Conferences 6 From the Chair 8 Washington and Industry Briefs 10 The Bottom Line 30 Management Insight 32 Executive Spotlight 34 Leadership Download 36 Compliance Central 38 From the President’s Desk 27 May–June 2023 • Volume 48, Number 3 The NAFCU Journal (ISSN 1043-7789) is published bimonthly every other month. May–June 2023, Volume 48, Number 3. Published by the National Association of Federally-Insured Credit Unions, 3138 10th Street N., Arlington, VA 22201-2149. Periodicals Postage Paid at Arlington, VA, and at additional mailing offices. POSTMASTER: Send address changes to The NAFCU Journal, NAFCU, 3138 10th Street N., Arlington, VA 22201-2149. The opinions and ideas appearing in this magazine are not necessarily representative of policies of NAFCU. Manuscripts and advertisements are welcome, although NAFCU reserves the right to edit manuscripts and refuse advertisements. Contact publisher for advertising information and rates. Appearance of an advertisement does not imply endorsement or guarantee of the advertiser’s claims. For subscription or advertising information, call 800-336-4644 or 703-522-4770. Email: nafcu@nafcu.org; website: www.nafcu.org. ©2023 National Association of Federally-Insured Credit Unions, all rights reserved.
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