WASHINGTON (3/16/16 UPDATED 2 p.m. ET)--The Credit Union National Association (CUNA) released the following statement in response to today’s decision by the Federal Open Market Committee (FOMC) to hold off on a rate increase:
"It was no surprise that the FOMC stood pat on the Fed funds rate at today’s meeting,” said CUNA Chief Economist/Chief Policy Officer Bill Hampel. “CUNA still believes the Fed will raise short-term interest rates several times in 2016, potentially reaching the rate of 1% by the end of the year.”
CUNA wrote in support of legislation Monday that is a step forward in addressing the threat of litigation under the Americans With Disabilities Act, urging legislators to consider how credit unions are being impacted by frivolous litigation.
CUNA and league partners the are working with Congress to remedy an issue surrounding compliance with the Americans with Disabilities Act and are seeking guidance on what is required for websites and online banking software.