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.
Six Senators wrote to Attorney General Jeff Sessions Wednesday with concerns shared by CUNA over how the ADA applies to websites, urging DOJ to “promptly take all necessary and appropriate actions within its authority.”
CUNA President/CEO Jim Nussle, former Congressman and OMB director, discussed grassroots advocacy, the Bureau of Consumer Financial Protection and the appropriations process Wednesday in an interview with National Journal.
NCUA should raise the eligibility limit for an 18-month exam cycle to $3 billion, fixing a regulatory disparity that leaves credit unions with an uneven playing field, CUNA President/CEO Jim Nussle wrote to NCUA Monday.
The House and Senate are both back in Washington, D.C. this week, and CUNA is engaged with several activities, including ongoing discussions to fund the federal government after Sept. 30, and a hearing on GSE reform.
NCUA’s latest supervisory letter addresses compliance with the new CDD and beneficial ownership rules. According to the agency, field staff will begin evaluating credit union compliance with the new CDD rules soon.
The Bureau of Consumer Financial Protection issued an interpretive final rule Friday, clarifying the HMDA partial exemptions contained in S. 2155. CUNA urged the bureau to quickly effectuate the regulatory relief in S. 2155.
CUNA's offices in Washington, D.C. and Madison, Wis. will be closed Monday, Sept. 3 in observance of Labor Day. There will be not CUNA daily news e-mail Monday morning. The Daily will resume Tuesday, Sept. 8.
CUNA has teamed with other financial services organizations to create a white paper, “Understanding ATM Attacks,” explaining how cybercriminals conduct such attacks and how financial institutions can protect consumers.
Comments on NCUA’s risk-based capital proposal and a CUNA-backed proposal from FASB are due in September. Comments on the proposed RBC rule are due Sept. 7, while comments on FASB’s proposal are due Sept. 19.
While CUNA supports NCUA’s proposed delay of NCUA’s risk-based capital rule, it maintains that the rule continues to be “functionally unnecessary. CUNA submitted its comment letter on NCUA's proposed rule Thursday, comments are due Sept. 7.