The Consumer Financial Protection Bureau’s rumored plan to expand Regulation E and the Electronic Fund Transfer Act is unlawful, would contravene the bill’s text, and would run afoul of the Administrative Procedures Act, CUNA wrote to the CFPB Tuesday.
Sens. John Hoeven, R-N.D., and Kevin Cramer, R-N.D. joined the Dakota Credit Union Association and credit unions calling on NCUA to ensure credit unions in the state properly recover assets from the failed U.S. Central Federal Credit Union corporate credit union.
NCUA announced a $395 million distribution to shareholders of the former Members United, Constitution, and U.S. Central, as well as dividends to shareholders Southwest Corporate. The distribution is scheduled to occur before the end of September 2022.
The African-American Credit Union Coalition hosted the inaugural Small Credit Union Summit, joined by CUNA Mutual Group, Inclusiv and the National Credit Union Administration (NCUA) and PRO Found Recovery Solutions, during its 24th Annual AACUC Conference.
Credit Union Magazine’s Fall 2022 issue highlights credit unions’ role in cryptocurrency, the state of digital assets, cannabis banking compliance, the human side of technology implementation, and involving the board in financial discussions.