The Department of Defense withdrew a problematic question from its Military Lending Act guidance, a change called for by CUNA, Leagues and the Defense Credit Union League, who cited the numerous conflicts and uncertainty it creates.
A total of three bills that would provide important updates to the Federal Credit Union Act were introduced during CUNA GAC this week. the result of CUNA/League advocacy to increase access to safe and affordable credit union products and services.
Sens. Tim Scott (R-S.C.) and Catherine Cortez Masto (D-Nev.) announced a CUNA-supported bill Wednesday that would raise federal credit union loan maturity limits on non-mortgage loans from 15 to 20 years. This is the fourth charter modernization bill introduced this week during CUNAGAC.