CUNA President/CEO Jim Nussle wrote to Tresaury Secretary Steven Mnuchin Thursday, providing additional information about how regulations can be more manageable for credit unions. The letter was a follow-up to the roundtable Treasury conducted on financial regulations.
The House Financial Services Committee will conduct a second day of hearings on Rep. Jeb Hensarling’s (R-Texas) Financial CHOICE Act, after a hearing was conducted Wednesday. Friday’s hearing is scheduled to begin at 9:15 a.m. (ET).
CUNA will join forces with the National Credit Union Foundation Friday for Financial Literacy Day on Capitol Hill, an event sponsored by the Foundation. Representatives for CUNA and the Foundation will be on hand.
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.
CUNA staff outlined some of the requirements of the July 2015 TCPA order in a meeting this week with the staff of FCC Chair Ajit Pai, explaining how they are making it difficult for credit unions to communicate with members.
A CFPB led by a single director is not working for credit unions and has created a rigged system benefitting large banks, CUNA wrote to a House Financial Services subcommittee Tuesday for a hearing examining the bureau’s leadership structure.
CUNA will show the House Financial Services oversight and investigations subcommittee how the CFPB structure impacts credit unions and their members. The subcommittee is conducting a hearing Tuesday at 10 a.m. (ET) examining the bureau’s structure.
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.
The CFPB announced Friday it is seeking comment on a bureau plan to assess its rule on international remittances. CUNA has long believed the rule has harmed consumers by forcing credit unions out of this market.
As a strong supporter of programs that help credit unions better serve their members, CUNA pledged to support funding for the U.S. Treasury’s CDFI Fund, funding for which was eliminated in President Donald Trump’s budget proposal released this week.
CUNA President/CEO Jim Nussle appeared on CNBC's Closing Bell Thursday afternoon to discuss the introduction of budget materials from the administration of President Donald Trump. Nussle served as director of the OMB from 2007 2009.
The New Mexico state legislature passed a credit union-supported data breach notification bill Wednesday night. The Data Breach Notification Act passed unanimously, and requires affected parties to be notified within 30 days if there is a risk of fraud.
The second phase of Same Day ACH rollout has a Sept. 15 effective date, and a list of recommended action items to be performed has been released. All financial institutions must be prepared to receive by Sept. 15.
As Congress works this week to fund the government past April 28, CUNA will be engaged in the process as it seeks to see 2 particular issues addressed: funding for CDFIs and the CFPB's exemption authority.