In a unified show of support for legislation that will right size regulation for credit unions, the Northwest Credit Union Association and Nampa, Idaho-based Northwest Christian Credit Union joined Sen. Mike Crapo (R -Idaho) at a Boise news conference Feb. 20 in support of S. 2155.
The Economic Growth, Regulatory Relief and Consumer Protection Act, would provide much-needed regulatory relief for credit unions and banks and lower the cost of borrowing for thousands of Indiana businesses, Kevin Ryan, president/CEO Financial Center First CU, Indianapolis, wrote in an op-ed that appeared in the Indy Star.
CUNA and its partners in a coalition of financial and housing trade associations Thursday submitted a joint statement for the record supporting transitioning the governing structure of the Consumer Financial Protection Bureau to a five-member, bipartisan commission.
Credit unions interested in the next evolution in financial services technology should look no further than the nine entities picked by the Financial Solutions Lab at the Center for Financial Services Innovation as winners of a $3 million tech-innovation competition.
CUNA expressed its support of the National Credit Union Administration’s proposed amendment that would exclude Central Liquidity Facility-related bridge loans made by a corporate credit union to a natural-person credit union from the corporate’s aggregate unsecured lending cap.
A housing and transportation appropriations bill with a CUNA-backed amendment that would prohibit the use of funds to enforce the “disparate impact” concept in providing housing services was adopted late Tuesday night by the U.S. House of Representatives.
CUNA has joined forces with 18 other trade associations to emphasize to Congress the need for a temporary “safe harbor,” at least until the end of the year, for credit unions and other institutions making good-faith efforts while implementing mortgage loan transaction requirements of the Consumer Financial Protection Bureau’s Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosures regulation.
The chief tax counsel for Rep. Paul Ryan (R-Wis.)--who heads the powerful House Ways and Means Committee--called CUNA Wednesday morning to inform about an important development for credit unions: a problematic provision for financial institutions had been stripped from a Senate trade bill before the House was set to vote on the trade package in the afternoon.