FinCEN has issued a ruling to provide a 90-day limited exceptive relief to covered financial institutions from the obligations of the beneficial ownership requirements for for certain accounts, effective as of May 11.
CUNA-requested language requesting the Department of Justice clarify website accessibility standards for the Americans with Disabilities Act was successfully added to a House appropriations bill Friday.
Credit union efforts will have to be bigger, louder, and stronger than ever to defend the credit union tax exemption as tax reform discussions gain momentum in the U.S. Congress. In a nationwide webinar Wednesday, CUNA urged credit unions to engage their 96 million members and help them join the fight to support the credit union tax status.
Credit union member business lending legislation should be cheered not just because of its bipartisanship, but because it "spreads freedom" and "lifts regulatory barriers to an untapped source of capital for startups: America's credit unions," Competitive Enterprise Institute Senior Fellow for Finance and Access to Capital John Berlau wrote in a recent openmarket.org blog post.
Credit unions can detail how recent changes to the Consumer Financial Protection Bureau's final international remittance transfer rule could impact their business practices as they relate to such services they provide to their through a new CUNA survey.
House Financial Services Committee Chairman Jeb Hensarling (R-Texas) Wednesday announced two new subcommittee assignments for two members of the committee, Reps. Dennis Ross (R-Fla.) and Keith Rothfus (R-Pa.).
Qualified mortgage rules must be changed to ensure credit unions will be able to meet their members' borrowing needs in a way that minimizes risk and default, CUNA President/CEO Bill Cheney wrote in a letter submitted to the U.S. Congress on Tuesday.
"The current potential threat of the taxation on credit unions is the highest it has ever been in my 20 years that I have been involved in the movement," longtime member of Congress and former CUNA CEO Dan Mica wrote in a CUinsight.com piece.
The National Association of State Credit Union Supervisors and the Consumer Financial Protection Bureau "will continue to endeavor to promote consistent examination procedures and effective enforcement of state and federal consumer laws and to minimize regulatory burden on state credit unions" under the terms of a new memorandum of understanding.
Low-income credit unions can now apply for a total of $1.18 million in grants to help support their financial literacy, product development, collaboration, staff and board member training, office relocation and computer modernization efforts, the National Credit Union Administration said on Tuesday.