While the DOD has affirmed the Military Lending Act’s effective date for credit card accounts of Oct. 3, CUNA is engaged with legislators to build support for efforts to exempt credit unions from the rule.
NCUA Wednesday released a package of possible regulatory reforms and urged credit union stakeholders to read and comment. According to the agency, the reforms were recommended by an internal NCUA task force.
CUNA praised several regulatory relief suggestions from NCUA in a letter sent to Senate Banking Committee leadership before Acting Chair J. Mark McWatters' testimony, part of a hearing focusing on regulators’ role in economic growth.
Credit unions have until July 1 to submit nominations for the 2nd annual CUNA Compliance Awards. CUNA encourages credit union compliance professionals to nominate peers, themselves and/or their credit unions for the awards.
CUNA wrote to House and Senate appropriators Tuesday to push for full funding of the Treasury’s CDFI Fund for fiscal year 2018. CUNA, league and credit union advocacy efforts helped restore funding for FY17.
CUNA seeks feedback from credit unions on ways to eliminate regulatory burden as it prepares to respond to the Department of Treasury’s request for information on streamlining regulations, which stems from President Donald Trump's executive orders.
With both chambers of Congress in session this week, CUNA is engaged with a number of hearings, including financial regulator testimony on fostering economic growth. Acting NCUA Chair J. Mark McWatters will represent NCUA.
NCUA has released its new call report form and accompanying instructions, which become effective Sept. 30. For credit unions engaged in commercial lending, most notable are the updates reflecting the January 2017 changes to the member business lending rule.
CUNA wrote to House and Senate appropriators Friday in strong support of funding NCUA’s Community Development Revolving Loan Fund at $2 million for fiscal year 2018. The administration’s budget submission to Congress eliminates CDRLF funding.
NCUA Chair J. Mark McWatters will testify before the Senate Banking Committee Thursday, as part of the committee’s focus on fostering economic growth. The committee previously hosted two other hearings on this topic, one in which CUNA testified.
Credit unions are invited to participate in the Small Business Administration Office of Advocacy’s upcoming roundtable on financial issues, scheduled for June 26. The roundtable will focus on the CFPB assessment process and recent request for information.
CFPB seeks comments on proposed changes to its prepaid rule, which is scheduled to take effect April 1, 2018. The rule subjects prepaid accounts that access certain overdraft services or credit features to Regulation Z requirements by defining them as “credit cards.”
CUNA’s final rule analysis of the CFPB changes to the TRID rule is now available. The rule, published in the Federal Register this week is effective Oct. 10, with a mandatory compliance date of Oct. 1, 2018.
While proposed changes to the CFPB prepaid accounts rule provide some clarity, it will not be helpful for most prepaid card users and CUNA remains opposed to the rule’s application of Regulation Z to certain prepaid cards.
Credit Unions for Kids connects the credit union movement and CMN Hospitals to ensure patients are able to get the care they need. One such patient will perform on "America’s Got Talent" Tuesday at 8 (ET).