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FHLBank system continues to benefit CU members, drastic changes not needed

CUNA welcomes the FHFA’s efforts to conduct a comprehensive review of the FHLBanks’ operations and mission, it wrote to the FHFA, as credit union members continue to derive significant benefits from credit union membership in the FHLBank system.

Policy & Issues

CFPB releases section 1071 small business lending final rule

The Consumer Financial Protection Bureau (CFPB) released its final rule on section 1071 of the Dodd-Frank Act Thursday, which would require credit unions to collect and report certain data on applications for credit.

Policy & Issues

Compliance: CUs must register with ACH Contact Registry

Enforcement of Nacha's ACH Contact Registry rule is effective Aug. 1, meaning credit unions must register their contacts with the registry by then. Nacha has created several resources for credit unions to familiarize themselves with the registry.

Why Prepaid Cards Enhance Member Relationships

Policy & Issues

Comments on credit card late fee proposal due May 3

The Consumer Financial Protection Bureau (CFPB) published its proposal on credit card late fees in the Federal Register Wednesday with comments due May 3. CUNA has called on the CFPB to release the Federal Reserve data it heavily relied upon to craft the rule.

Policy & Issues

Registration open for April 13 NCUA share insurance webinar

NCUA has scheduled a webinar for Thursday, April 13, to help credit unions better understand share insurance and how member accounts are covered. Registration for this webinar is now open, and it is scheduled to begin at 2 p.m. ET and run approximately 60 minutes.

Policy & Issues

CUs did not cause bank collapse, remain safe and sound

Risks borne by recently collapsed banks should not be paid for by credit unions that serve communities across our country, CUNA wrote to the House Financial Services Committee for its hearing on recent bank collapses.

Policy & Issues

CUs should not face additional regulation after bank collapses

Credit unions did not cause the collapse of one of the largest regional banks in the country and should not face more federal regulation or increased fees due to these banks’ actions, CUNA wrote to the Senate Banking Committee in advance of its hearing on recent bank collapses.

Policy & Issues

CUNA provides section 1071 rule revisions to House subcommittee

Credit unions support the goals of section 1071 of the Dodd-Frank Act but are concerned about increased costs, CUNA wrote to the a House Small Business Subcommittee before its Tuesday hearing on the CFPB’s 1071 small business data collection rule.

Policy & Issues

Bank collapse, section 1071 rule hearings this week

The House Financial Services Committee and Senate Banking, Housing, and Urban Affairs Committee will conduct the first hearings into recent bank collapses this week, while a House Small Business Subcommittee will examine the CFPB's small business data collection rule.

Policy & Issues

Compliance: FinCEN issues BOI reporting guidance

FiNCEN issued guidance its Beneficial Ownership Information reporting rule, which is effective Jan. 1, 2024. Resources include introductory videos, FAQs, key questions, and filing dates.

Summer 2023

Credit Union Magazine’s Summer 2023 issue highlights the lending outlook for the rest of the year, how credit unions leverage fintech companies to boost digital lending, the power of lending partnerships, common Bank Secrecy Act violations, and the shift board members must make when becoming chair.

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Policy & Issues
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FHLBank system continues to benefit CU members, drastic changes not needed

CFPB releases section 1071 small business lending final rule

Compliance: CUs must register with ACH Contact Registry

Comments on credit card late fee proposal due May 3

Registration open for April 13 NCUA share insurance webinar

CUs did not cause bank collapse, remain safe and sound

CUs should not face additional regulation after bank collapses

CUNA provides section 1071 rule revisions to House subcommittee

Bank collapse, section 1071 rule hearings this week

Compliance: FinCEN issues BOI reporting guidance

Summer 2023

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