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.
An amendment crafted by the Maine Credit Union League to a proposed foreclosure bill was unanimously adopted by the Legislature’s Judiciary Committee this week, an occasion the committee’s chair, Rep. Barry Hobbins, said “doesn’t happen very often.”
The World Council of Credit Unions announced this week it has partnered with the MetLife Foundation to support research efforts in Mexico that will help clarify the financial needs of the unbanked aged 18 to 35 in that country.
The Thursday markup of Sen. Richard Shelby’s (R-Ala.) regulatory relief bill will be closely monitored by CUNA and other parties, but even after the final votes are taken, the bill may still have an uphill battle.
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.