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.
Credit unions play an important role in meeting the needs of consumers facing financial challenges and support more flexibility and the ability to innovate. However, CUNA cautioned against any additional mandatory data reporting in a letter to CFPB Thursday.
The importance of not-for-profit credit unions in the marketplace is as significant today as it has ever been, CUNA wrote to House Ways and Means Committee leadership Thursday, listing the numerous consumer benefits of the credit union tax status.
Anthony Hernandez has been named the next president/CEO of the Defense Credit Union Council, the organization announced Wednesday. Hernandez will take the position Aug. 1, following the retirement of current President/CEO Arty Arteaga.
CUNA strongly supports the SBA’s 7(a) loan program and advocates for the highest possible federal funding level, CUNA President/CEO Jim Nussle wrote to House Small Business Committee leadership Wednesday for the record of a hearing reviewing the program.
Credit union-supported bills in Georgia, Minnesota, Montana and Nebraska have been signed into law in recent days, continuing the momentum for state-level credit union advocacy. The bills help improve credit union operations, alleviate compliance burdens, and allow for consumer-friendly products.
CUNA and the leagues issued an action alert Monday calling on stakeholders to engage Cngress to ensure language repealing the Durbin amendment remains in the Financial CHOICE Act as it moves to the House floor.
CUNA will be closely engaged with a House Ways and Means hearing on tax reform, and will urge Congress to retain and reaffirm the credit union tax status. The Financial CHOICE Act is not on the House schedule his week.
The SCRA is designed to protect individuals on full-time active military duty who have been materially affected by their service. A recent CompBlog back-to-basics post examines one significant aspect of the SCRA: the 6% interest rate limit.
CUNA and DCUC followed up on a February letter to the DOD, sharing relevant findings from its data collection and offering suggestions the agency can implement to reduce or eliminate the adverse impact the MLA rule is having.