NCUA Wednesday released a package of possible regulatory reforms and urged credit union stakeholders to read and comment. According to the agency, the reforms were recommended by an internal NCUA task force.
A new credit union service organization has been formed by CULedger, a credit union industry initiative developing applications of distributed ledger, or blockchain, technology. Credit unions will have a majority ownership in the new CUSO.
Representatives from CUNA, leagues, credit unions, AACUL and CUNA Mutual this week at the NCSL Legislative Summit, served as panelists and attended meetings to ensure no policies arise to harm credit unions.
CUNA generally supports NCUA’s proposed changes to appeals and Supervisory Review Committee procedures, as it would provide more uniform board appeals procedures across NCUA regulations allowing for informal appeals to the board.
An amended merger rule should not increase the burden for the merging or acquiring credit unions, CUNA told NCUA Monday in response to the agency’s proposed rule to alter federal credit union merger procedures.
Since July 1, the 3 nationwide consumer reporting companies began enforcing stricter standards on the public records they collect. developing “enhanced” public record data standards for collection and updating of civil judgments and tax liens.
CUNA appreciates the Consumer Financial Protection Bureau’s efforts to decrease the burden on lenders with limited HELOCs, a credit union win, but asked the bureau to consider exempting credit unions, or further increasing the threshold.
Members of Congress and the administration released a statement on tax reform Thursday, in which the credit union tax status was not addressed. CUNA President/CEO Jim Nussle said CUNA will continue its engagement.
NCUA’s plan to close the Temporary Corporate Credit Union Stabilization Fund and setting the share insurance fund’s operating level was published in the Federal Register Thursday. Comments on the proposal are due by Sept. 5.
The House passed a CUNA-backed resolution of disapproval Tuesday for the CFPB's arbitration rule. CUNA has a number of concerns with the rule, and sent a letter of support in advance of the House vote.
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.