CUNA and NAFCU wrote to the Senate Banking, Housing, and Urban Affairs Committee bringing awareness to critical credit union issues prior to testimony from NCUA board nominee Tanya Otsuka, who will appear before the committee Thursday.

CUNA and the World Council of Credit Unions wrote to House and Senate appropriations subcommittees this week asking for consideration of credit union priorities in any supplemental funding legislation being prepared to aid Ukraine and Israel.

The Senate passed a joint resolution of disapproval Wednesday on the Consumer Financial Protection Bureau’s section 1071 rule, which would require credit unions to collect and report certain data on applications for credit. The resolution would void the rule through the Congressional Review Act.

CUNA, NAFCU, and the Virgnia Credit Union League filed an amicus brief in support of 1^st Advantage Credit Union Tuesday, noting a previous district court decision "turns a blind eye to the market pressures and industry norms" that support the transaction-processing measures in the lawsuit. 

Community Development Financial Institution-certified credit unions are key to achieving the mission of the CDFI movement, CUNA wrote a Senate committee hearing on CDFIs, also highlighting issues with CDFI-certified credit unions seeking to recertify, and the wait for Treasury to issue updated application requirements.

Both chambers of Congress are in Washington, D.C., this week. The House may hold a vote for speaker, while the Senate Banking Committee will hear testimony from NCUA board nominee Tanya Otsuka.

CUNA wrote in support of two credit union organizations’ applications for funding under the Environmental Protection Agency’s Greenhouse Gas Reduction Fund. CUNA provided Ecority and Inclusiv with letters of support, which they included with their applications.

CUNA President/CEO Jim Nussle and NAFCU President/CEO Dan Berger set the record straight on the credit union difference in response to another attack from bankers questioning the credit union industry’s tax exemption and motives.

The NCUA Board will vote on proposals related to simplification of insurance rules and fair hiring in banking at its Oct. 19 meeting.
The meeting is scheduled to begin at 10 a.m. ET, and will be streamed live on NCUA.gov.