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.
Privately insured credit unions will be eligible to join the FHLB starting July 5, as long as they meet certain requirements, part of several CUNA-backed regulatory relief items signed into law in December 2015 by then-President Barack Obama.
CUNA wrote this week to support a bill placing limits on Operation Choke Point, an initiative CUNA believes uses broad enforcement tactics that could create unnecessary risks to consumers and the economy, introduced by Rep. Blaine Luetkemeyer (R-Mo.).
CUNA is engaged with both House and Senate proceedings this week, a House vote on a piece of regulatory relief legislation and a CUNA board member will testify before a Senate Committee. Dallas Bergl, CEO of INOVA FCU will testify.
The U.S. District Court for the Western District of Pennsylvania has denied Wendy's motion to dismiss the lawsuit against them, a class action lawsuit brought against the company alleging Wendy’s failed to comply with industry standards to protect data.
With the DOL announcing a “phased implementation” of its fiduciary rule through Jan. 1, what is required between the June 9 effective date and then? CUNA’s compliance staff examined what’s next for the rule in a recent CompBlog post.
CUNA seeks feedback from member credit unions on the TCPA and ways it may have adversely affected the way they can communicate with members. CUNA sent a survey to member credit unions to measure compliance burdens and costs.
CUNA and several credit unions met this week with representatives from CFPB to discuss the recently released RFI regarding the small business lending market, and CUNA followed up with a letter sent Thursday requesting an extended comment period.
CUNA submitted a letter to the CFPB Thursday, detailing the numerous ways agency rulemakings have affected, and in many cases harmed, credit unions, their members and consumers. The letter also includes recommendations to improve regulations.
Dallas Bergl will testify on behalf of CUNA before the Senate Banking Committee June 8 for a hearing on how community financial institutions can foster economic grwoth. Bergl is the CEO of INOVA FCU, and a CUNA board member.
NCUA and other federal regulators issue an advisory Wednesday highlighting 2 appraiser options to help insured depository institutions facilitate timely consideration of loan applications. During a review process, issues attributed to limited availability of state-certified and licensed appraisers were raised.