The current regulatory regime makes BSA/AML compliance daunting for community financial institutions like credit unions, Faith Anderson of American Airlines FCU told a House Financial Services subcommittee on behalf of CUNA Wednesday.
CUNA President/CEO Jim Nussle said CUNA would push to remove language placing NCUA under the appropriations process from the House FSGG appropriations bill, and called for engagement to restore the CDFI Fund and CDRLF, which saw cuts.
CUNA and 2 other organizations jointly filed an amicus brief Wednesday in defense of NCUA's revised field-of-membership rule. The brief supports NCUA's cross-motion for summary judgement against the suit brought by the American Bankers Association.
NCUA’s revised MBL rule has been in effect for more than 6 months now, and according to the agency, it has received a number of questions about the rule and its implementation, leading it to release some FAQs.
Excessive credit card requirements have the potential to divert credit union resources and attention away from meeting member needs, CUNA told the CFPB in a letter sent in response to a RFI on aspects of the credit card market.
CUNA has issued a comment call on NCUA’s proposed rule revising procedures for voluntary rules among federal credit unions. Comments are due to NCUA by Aug. 7, and can be sent to CUNA through Aug. 7 as well.
Credit unions serve a vital role in their communities, CUNA board member Dallas Bergl told members of the Senate Banking Committee Thursday, but a one-size-fits-all regulatory climate threatens this relationship. Bergl testified on behalf of CUNA.
The House voted Thursday to pass the Financial CHOICE Act, a regulatory relief bill with several credit union-friendly provisions. CUNA President/CEO Jim Nussle said CUNA will continue its engagement to get regulatory relief legislation across the finish line.
The CFPB Wednesday agreed to CUNA’s request to extend the comment deadline for its request for information on the small business lending. CUNA requested the 60-day extension in several recent meetings with the CFPB.
INOVA FCU CEO and CUNA board member Dallas Bergl will share common-sense proposals to help credit unions foster economic growth with the Senate Banking Committee Thursday, as he testifies before the Senate Banking Committee on behalf of CUNA.
Sen. Mike Rounds (R-S.D.) introduced a CUNA-supported bill Wednesday that would provide credit unions regulatory relief related to the Home Mortgage Disclosure Act. The bill is titled The Home Mortgage Disclosure Adjustment Act.
CUNA reiterated its support for the reauthorization of the NFIP in a letter to House Financial Services Committee leadership Wednesday. The letter follows a similar letter CUNA sent in May to the Senate Banking Committee for an NFIP hearing.
Credit union-backed Jimmy Gomez (D) won a special election Tuesday for the seat in California’s 34th congressional district, taking 60% of the vote. Gomez was supported by both CULAC and the California and Nevada Credit Union Leagues.