CUNA hopes NCUA works to implement the recommendations released this week in a report from FFIEC agencies, part of a review of the agencies’ rules. The NCUA was not required to participate, but did so voluntarily.
The World Council of Credit Unions asked the Financial Action Task Force this week for clearer guidance on AML/CFT rules in order to reduce regulatory burdens. The FATF is the global standard setting body for AML/CFT rules.
The Financial Services Information Sharing and Analysis Center has named Heather McCalman its credit union council manager. CUNA, a member of FS-ISAC, has urged the security-minded organization to increase services for credit unions.
The ICBA has until March 27 to appeal a U.S. District Court judge granting of the NCUA’s motion to dismiss the banking trade's lawsuit against NCUA and its MBL rule, despite initial reports it was Feb. 23.
The National Credit Union Foundation accepted the a U.S. Gold President’s Volunteer Service Award this week for the over 15,000 volunteer hours dedicated to Junior Achievement programs by America’s credit unions.
CUNA encourages Congress to improve credit unions’ ability to offer SBA 7(a) loans, as well as other government guaranteed loans, CUNA President/CEO Jim Nussle wrote to leadership of a House Small Business subcommittee.
A proposed settlement was submitted to the court for approval Wednesday which would conclude the data breach lawsuit brought against Home Depot stemming from a 2014 data breach. CUNA, state leagues and a number of credit unions are among the plaintiffs.
Credit unions and small banks have been plagued by the July 2015 TCPA order from the FCC, CUNA and the ICBA wrote Wednesday. The organizations wrote leaders of the Senate Commerce Committee, and a House Energy and Commerce subcommittee.
Two items of interest to credit union have comments due this month, and CUNA will be weighing in on each with its own comment letter. The first involves the TCPA, the second the DOL's delay of its fiduciary rule.
CUNA continued its efforts to achieve faster payments last week, participating in a 2-day meeting of the Federal Reserve’s Faster Payments Task Force, which discussed the forthcoming second half of its faster payments report.
Both chambers of Congress are in session this week, and CUNA will be tracking a number of hearings of interest for credit unions, including ones covering small business lending, cybersecurity and the Telephone Consumer Protection Act.
The discussion boards on CUNA’s Compliance Community featured an interesting discussion last week: what is the difference between the terms “share draft” and “checking account”? The correct use is important since credit unions pay dividends, not interest.