More needs to be done to ensure credit unions have the tools and mechanisms to reach new consumers who are not currently being served, CUNA and NAFCU wrote to a House Financial Services subcommittee prior to its hearing on financial innovation.
Rep. Patrick McHenry, R-N.C., announced Tuesday he will not seek re-election in 2024. McHenry has served in Congress since 2005 and has chaired the House Financial Services Committee since January 2023.
Rep. Zach Nunn, R-Iowa, thanked credit unions on the House floor for the loans many provide to help families with adoption costs to commemorate November as National Adoption Month and in support of his legislation when discussion his legislation to help lower adoption costs.
The House and Senate are in Washington, D.C., this week. The House will consider various legislation, while the Senate will resume consideration of legislative nominees. CUNA will be engaged with hearings on housing affordability and financial innovation.
CUNA, NAFCU and other organizations met with new FCC Commissioner Anna Gomez and her staff about the FCCs recent Report and Order on illegal automated text messages and ongoing proceedings regarding revocation of consent under the TCPA.
The House passed a resolution of disapproval for the Consumer Financial Protection Bureau’s section 1071 rule Friday. The Senate passed the resolution in October and it will now head to President Joe Biden’s desk, who is expected to veto it.
The big box interchange bill would have major negative impacts on credit unions, community banks, and the people they serve, Montana Reps. Steve Gunderson, R, and Ron Marshall, R, wrote in the Flathead Beacon this week.
CUNA and NAFCU wrote House leadership this week in support of a resolution to nullify the Consumer Financial Protection Bureau’s section 1071 rule via the Congressional Review Act. The rule requires credit unions to collect and report certain data on applications for credit.
The Consumer Financial Protection Bureau has failed to account for credit unions’ mission and structure in its activities, a trend that has continued under Director Rohit Chopra, CUNA and NAFCU wrote to the Senate Banking, Housing, and Urban Affairs Committee.
There's no evidence of the benefits claimed by supporters of the big box interchange bill, Maine Credit Union League Vice President of Governmental Affairs Robert Caverly wrote in the Portland Press Herald Wednesday.