The need for regulatory relief--and credit unions’ continued ability to provide local-based financial services to their communities--were the focus of a meeting with Sen. Jon Tester (D-Mont.) and advocates from 4 Montana credit unions on Thursday.
Virtual lending to millennials will be critical to the future success and sustainability of credit unions, but it’s important to be cognizant of the growing risks posed by expanding online channels and take steps to mitigate them, CUNA Mutual Group’s Jim Bullard told a Discovery Conference audience Thursday.
The World Council of Credit Unions published a comment letter in response to the Financial Action Task Force’s proposal regarding anti-money laundering/counterfinancing of terrorism information sharing in the private sector.
The CFPB should recognize that credit unions are good faith partners for members seeking to buy homes, and should modify its ability-to-repay/qualified mortgage (ATR/QM) rule accordingly. CUNA’s comments come in response to a CFPB assessment of its ATR/QM rule.
Graduates of the 2017 CUNA Management School, held July 16-26 in Madison, earned 52 Certified Credit Union Executive (CCUE) designations. Awarded upon completion of all three years of the school, the designation signifies full knowledge of and preparedness for credit union leadership.
CUNA’s final rule analysis of the CFPB changes to the TRID rule is now available. The rule, published in the Federal Register this week is effective Oct. 10, with a mandatory compliance date of Oct. 1, 2018.
While proposed changes to the CFPB prepaid accounts rule provide some clarity, it will not be helpful for most prepaid card users and CUNA remains opposed to the rule’s application of Regulation Z to certain prepaid cards.