CUNA Chief Economist Mike Schenk recognized NCUA’s continuing improvements in its budget process Wednesday while presenting at NCUA’s budget briefing. The NCUA’s proposed 2019 operating budget is $304.4 million.
Credit Union Legislative Action Council, the federal PAC of CUNA, is launching its first round of independent expenditures for the 2018 midterm election cycle. The IEs are being launched in various stages throughout the week.
The National Credit Union Foundation has opened CUAid to receive disaster relief funds to assist credit union people affected by Hurricane Florence. One hundred percent of donations through CUAid goes to credit union disaster relief.
The CUNA Board of Directors unanimously approved this week a resolution in support of the Awareness Initiative, fully supporting the stated goals of the groundbreaking, research-backed initiative and its mission.
NCUA is closely monitoring Hurricane Florence, it said Wednesday, and has a hurricane information webpage with materials on preparedness and recovery for credit unions and members affected by the storm.
CUNA wrote to House Financial Services Committee leadership Wednesday in support of two bills scheduled to be marked up Thursday. One would require the BCFP to standardize the guidance process, one would update GLBA notification requirements.
CUNA joined other trade organizations Wednesday requesting an extension of the comment deadline for the Bureau of Consumer Financial Protection’s proposed policy to encourage trial disclosure programs to Nov. 23.
CUNA wrote in support of the Give Useful Information to Define Effective Compliance Act Tuesday, a bill that would clearly define guidance and implement time frames for providing answers in response to requests for guidance.
The Consumer Information Notification Requirement Act is a strong step in the right direction, and CUNA looks forward to working with Congress to do more on data security, CUNA President/CEO Jim Nussle wrote Tuesday.
Supervisory guidance does not have the force and effect of law, NCUA and other federal financial regulatory agencies said Tuesday in a joint statement. CUNA supports this unified approach from regulators.