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.
Credit union purchases of banks offer substantial benefits to all parties involved, CUNA and the MWCUA wrote this week to the Colorado Banking Board in support of Elevations CU plan to purchase and assume Cache Bank & Trust.
CUNA announced Thursday the CUNA/League system will spend a record-setting $7 million in the 2020 election cycle. CULAC, CUNA's PAC, will report a fundraising total of $2.8 million for 2019, a CULAC record.
The Financial Accounting Standards Board’s CECL standard will have a significant impact not only on covered financial institutions but also consumers and the broader economy, CUNA wrote to a House subcommittee Wednesday.
Credit unions look forward to working with Congress to strengthen the partnership between credit unions, members and their communities, CUNA Chief Advocacy Officer Ryan Donovan wrote to all 535 Congressional offices Wednesday.
CUNA wrote House leadership this week in support of two bills that are expected to be considered on the House floor in the coming days, the Expanding Opportunities for Minority Depository Institutions Act and the Cybersecurity and Financial System Resilience Act.
Turks and Caicos Islands Government has joined World Council of Credit Unions as an associate member to initiate the development and introduction of credit unions to its people and allowing access to World Council's best practices.
The House is expected to consider two bills supported by CUNA this week, and CUNA will also engage on a hearing on cannabis business and FASB, which is the entity issuing the current expected credit loss (CECL) standard.
The victories won by CUNA, Leagues and credit unions in 2019 pave the way for 2020, says CUNA Chief Advocacy Officer Ryan Donovan, adding that credit unions will look to highlight the credit union difference in 115 million American lives to policymakers.
CUNA compliance staff has been getting numerous questions regarding the new IRA requirements resulting from the passage of the Setting Every Community Up for Retirement Enhancement (SECURE) Act, and has answers for 5 common questions.
In the wake of the recent earthquakes in Puerto Rico, NCUA will be ready to assist the seven federally insured credit unions there with maintaining or restoring operations, if necessary, with urgent needs grants and information.