Consumers will bear the cost of the Credit Card Competition Act, Robins Financial Credit Union President/CEO Christina O'Brien wrote in The Marietta Daily Journal. O'Brien says members of Congress should stand against the troublesome bill. 

CUNA President/CEO Jim Nussle and Deputy Chief Advocacy Officer Jason Stverak were named among The Hill’s top lobbyists for their "track record of success in the halls of Congress and the administration during a critical year for policy.”

The emergency exemption allowing federal credit unions to conduct membership and board of director meetings completely virtually will expire Dec. 31, NCUA stated Wednesday. The agency previously approved the flexibility in March 2020, November 2020, and November 2021.

The CUNA and League-supported Fair Hiring in Banking Act (H.R 5911) is part of latest version of the National Defense Authorization Act (NDAA) for fiscal year 2023, which is expected to be on the House floor in the coming days.

The Credit Card Competition Act is a a “trojan horse” bill that put big retailers ahead of hard-working consumers, Dakota Credit Union Association President/CEO Jeff Olson wrote in Inforum this week. 

Sen. Raphael Warnock, D-Ga., supported by CUNA, the Credit Union Legislative Action Council, and the League of Southeastern Credit Unions and Affiliates, won election to a full term in Tuesday’s run-off.

CUNA supports a bill to close the industrial loan company (ILC) loophole. The bill would close a loophole allowed under current regulations that allows ILC to gain all of the advantages of an FDIC-insured bank charter.

CUNA supports NCUA’s subordinated debt proposal, but notes the 20-year limit on grandfathered secondary capital, even as potentially amended under the proposal, continues to disadvantage credit unions over banks.

Credit unions are willing to make smaller balance loans that are less profitable compared to other financial institutions, CUNA wrote to the Department of Housing and Urban Development (HUD) Monday.

Proposals from the Small Business Administration would make “detrimental shifts” in the SBA’s 7(a) lending program, CUNA and other organizations wrote to House and Senate Small Business Committee leadership.