Total loans outstanding in federally insured credit unions increased $235 billion, or 19.2%, over the year ending in the third quarter of 2022, to $1.46 trillion, according to NCUA's latest financial performance data.

CUNA supports the CFPB's inquiry into the tech companies’ payments practices and strongly encourages the bureau to carefully examine and regulate these entities to ensure their financial products and services available offer the same protections as regulated entities.

The NCUA Board will vote on its 2023-24 budget at its Dec. 15 meeting, its final of 2022. The board will also receive a briefing on the 2023 Normal Operating Level, and vote on a financial innovation proposed rule. 

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.