CUNA’s 2019 Year in Review Checklist is now available to help credit unions review and update policies and procedures to reflect regulatory changes of 2019. The checklist is designed to accompany CUNA’s 2019 Year in Review document.

The CFPB issued a policy statement Friday outlining its approach to the “abusiveness” standard in supervision and enforcement matters. CUNA has long recommended the CFPB act to clarify the scope and meaning of “abusiveness.”

CUNA announced four keynote speakers for the 2020 CUNA GAC: Political strategist Stephanie Cutter, political analyst Nicole Wallace, photographer Platon and David Plouffe, campaign strategist for President Barack Obama.

Increasing the residential appraisal threshold will reduce regulatory burden for credit unions, resulting in both transaction cost and time savings for credit unions and their members, CUNA wrote NCUA Thursday.

The NCUA board issued a proposed rule on credit union combination transactions and subordinated debt Thursday, as well as approving of the agency’s 2020 Annual Performance Plan and discussing the federal credit union loan interest rate ceiling.

NCUA selling its portfolio of taxi medallion loans is not an appropriate step at this time, CUNA, Leagues wrote NCUA, as it may harm not only the credit unions holding taxi medallion loans but ultimately all federally insured credit unions due to the effect on the NCUSIF.

Solarity CU has created a relief program meant to provide assistance for those who lost their jobs due to the abrupt closure of Astria Regional Medical Center which created potential hardships for hundreds of local healthcare workers and their families.

The CFPB should explore several revisions and additions to its remittance rule, CUNA wrote in response to a proposed rule making several changes to the remittance rule, including raising the threshold to 500 remittance transfers per year.

Ongoing compliance costs from the TRID rule continue to affect credit union lending, CUNA wrote to the CFPB as it assesses the rule as required by statute. CUNA found TRID rule compliance expenditures cost credit unions $563 million in 2018 alone.

CUNA’s 2019 Year in Review is now available, recapping the year in finalized rules and amendments that affect credit unions. CUNA’s 2019 Year in Review Checklist will be released on CUNA’s CompBlog in the coming days.