The new Congress brings new opportunities for credit unions and members, CUNA President/CEO Jim Nussle wrote in CUInsight Wednesday. Nussle noted the 118th Congress will feature a credit union majority, and CUNA, Leagues, and credit unions are prepared to continue their positive momentum

The FCC’s illegal text message blocking proposal should not affect legal texts from credit unions and other financial institutions, CUNA and other organizations wrote to the agency. It would require mobile wireless providers to block certain illegal texts at the network level.

Sens. Alex Padilla, D-Calif., and Kevin Cramer, R-N.D.—in coordination with CUNA, the California Credit Union League, and Dakota Credit Union Association—called for an extension of NCUA Central Liquidity Facility flexibility to be included in the FY23 Senate National Defense Authorization Act.

The real winners under the Credit Card Competition Act would be big box retailers, Scott Zahnle, CEO of Greater Iowa Credit Union wrote in The Des Moines Register, adding that it would be a "disaster for almost everyone it affects, especially consumers."

CUNA wrote in support of several credit union priorities for the record of the hearing with NCUA Chairman Todd Harper’s testimony before the Senate, Banking, Housing, and Urban Affairs Committee Tuesday. Harper testified as part of a panel of federal financial regulators.

The National Institute for Lobbying and Ethics (NILE) recognized CUNA Deputy Chief Advocacy Officer for Federal Government Affairs Jason Stverak as one of the top lobbyists of 2022.

Cyberattacks and cybersecurity vulnerabilities pose significant threats to the financial system and CUNA is dedicated to supporting cybersecurity practices that mitigate these risks, it wrote to the Cybersecurity and Infrastructure Security Agency (CISA) Monday.

Both chambers of Congress are back in Washington, D.C., this week. The Senate is expected to consider the FY23 National Defense Authorization Act and NCUA Chairman Todd Harper will testify before committees Tuesday and Wednesday.

The NCUA board will hear a quarterly update on the National Credit Union Share Insurance Fund at its Nov. 17 meeting. The meeting will be streamed live on NCUA.gov starting at 10 a.m. ET. 

CUNA Senior Economist Dawit Kebede said the Labor Department’s October Consumer Price Index Report shows report shows signs of inflation prices slowing down, but 7.7% headline inflation is still much higher than the Federal Reserve's target.