The MD|DC Credit Union Association wrote to their congressional delegation in response to an inaccurate op-ed published in the Wall Street Journal, noting credit unions “are dedicated to improving the financial well-being of members and the communities they serve."

The House and Senate are in Washington, D.C., this week, the Senate, Banking, Housing, and Urban Affairs Committee will conduct a markup of the SAFER Banking Act, which would create a safe harbor for financial institutions serving legal cannabis businesses.

Credit unions continued their advocacy in the nation's capital this week, with Leagues representing credit unions from six states in Washington, D.C., with several also joining CUNA President/CEO Jim Nussle in responding to interchange bill sponsors.. 

CeJae Vtipilson advocates for the life-changing power of credit unions.

CUNA President/CEO Jim Nussle and NAFCU President/CEO Dan Berger set the record straight on the credit union industry’s tax-exempt status and difference, combatting a recently published Wall Street Journal op-ed that had several inaccuracies and misleading claims.

CUNA President/CEO Jim Nussle reinforced how the Big Box interchange bill would negatively impact consumers, as Sens. Dick Durbin, D-Ill., Roger Marshall, R-Kan., and Peter Welch, D-Vt. work to stop any legislation from moving forward in the Senate unless it contains their bill’s language.

The NCUA Board finalized a loan participations rule and heard a quarterly National Credit Union Share Insurance Fund update at its Thursday meeting. The fund ended the quarter with a an equity ratio of 1.27%, and NCUA projects it to remain at 1.27% on Dec. 31, 2023.

President Joe Biden nominated Tanya Otsuka to serve on the NCUA Board Thursday. Otsuka would take the place of current board member Rodney Hood, whose term officially expired in August.

CUNA, NAFCU, and other financial trade associations representing virtually all banks and credit unions voiced their opposition to legislation from Sen. Josh Hawley, R-Mo., that would cap credit card interest rates at 18%. The organizations note that such a cap would “severely restrict” the availability of this type of credit for millions of consumers across this nation: