To turn around recession-related increases in repossessions, CUs have beefed up their loan-assessment processes, initiated faster action on collection procedures, and worked diligently to help members avoid repossessions.
It’s time to consider increasing CUs’ member business lending cap, Texas governor and presidential candidate Rick Perry told more than 250 credit union representatives at the Iowa Credit Union Convention.
Consumer Financial Protection Bureau Director Richard Cordray will step down from the agency by the end of the month after serving since 2013. CUNA President/CEO Jim Nussle said CUNA looks forward to a new era at the bureau, one that takes credit unions’ structure and purpose into account during rulemakings.
Credit unions now have less than six months to come into compliance with FinCEN's Customer Due Diligence rule, effective May 11, 2018, which includes provisions on identifying the beneficial owners of legal entity accounts.