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.
President Donald Trump signed an executive order Thursday calling for reviews of the federal government’s cybersecurity vulnerabilities, directing adoption of specific security practices and directing agencies to provide a risk management report within 90 days.
CUNA supports the creation of an efficient, effective and fair secondary housing market with equal access to lenders of all sizes, CUNA wrote to Senate Banking Committee leadership Thursday in a letter for a hearing's record.
The credit union perspective was highlighted during the CFPB field hearing Wednesday on small business lending. Sharon Lindeman, of the California and Nevada Credit Union Leagues, asked the bureau to proceed with caution when examining small business lending.
Authorizing credit unions to issue capital shares is fully consistent with congressional intent, credit union history, credit unions’ tax status and credit unions’ mutual structure, the World Council of Credit Unions wrote to NCUA Tuesday, in response to its ANPR.
What are credit unions? That answer won a Jeopardy! contestant $1,000 on Wednesday's edition of the game show. CUNA and the credit union difference were mentioned in the form of a question in the "Saving Up" category.
Reps. Peter King (R-N.Y.) and Brad Sherman (D-Calif.) wrote to NCUA this week to support the ability of credit unions to allow supplemental capital for risk-based capital purposes. The legislators have co-sponsored a bill making the necessary statutory changes.
CUNA supports the authority of credit unions to build additional capital in a way that does not dilute the cooperative ownership and governance structure. CUNA’s wrote in response to the agency’s ANPR on alternative capital.
With only the Senate in session this week, CUNA is engaged in a number of Congressional hearings this week, including one that will examine the status of the housing finance system conducted by the Senate Banking Committee Thursday.
CUNA wrote Monday in support of legislation it believes would make frivolous FCRA litigation less likely while balancing consumer protections. The FCRA Liability Harmonization Act (H.R. 2359) was introduced by Rep. Barry Loudermilk (R-Ga.).
Bellwether Community CU, Manchester, N.H., filed a complaint against Chipotle last week alleging injury after a security breach that occurred in March. According to the complaint, the breach compromised names, credit and debit card numbers and other information.