NCUA issued a letter to credit unions outlining the agency's supervisory priorities and other updates to its examination program for 2023. It also notes NCUA's exam flexibility initiative will continue in 2023, which establishes an extended exam cycle for certain credit unions.
CUNA Chief Economist Mike Schenk said inflation pressures eased significantly in December, with prices declining for the first time since May 2020. This greatly boosts the odds that the Federal Reserve will pivot from its current aggressive policy stance.
CUNA and other organizations met with House Financial Services and Senate Banking, Housing, and Urban Affairs leadership staff Tuesday to discuss proposed changes to the Community Financial Development Institution (CDFI) Fund certification application.
CUNA’s Small Credit Union Committee met with NCUA Vice Chairman Kyle Hauptman, his staff, and Director of the Office of Examination and Insurance Kelly Lay to discuss record retention, policy review, and examiner consistency, among other topics.
CUNA announced the appointment of Clement Abonyi Jr. Monday as its newest Director of Advocacy. Abonyi will help manage the association’s relationships with Democrats on a variety of key advocacy issues in his role at CUNA.
Sen. Ben Sasse, R-Neb., resigned his Senate seat Sunday to become president of the University of Florida. Sasse was first elected in 2014 and supported many credit union priorities during his time in the Senate.
CUNA Senior Economist Dawit Kebede noted the December jobs report was robust considering the overall labor market conditions, which is encouraging for the Federal Reserve to bring inflation down to its target level.
Recent collapses show the status quo isn't cutting it for consumers, CUNA President/CEO Jim Nussle wrote in The Hill, adding that consumer protectors like credit unions should have the ability to offer crypto services to consumers in a safe way.
Rep. Kevin McCarthy, R-Calif., was elected Speaker of the House early Saturday morning. McCarthy, who has served in Congress since 2007, has long been a strong supporter of credit unions, even before his time in Congress.
Credit Union Magazine’s Spring 2023 issue features the 2023 Credit Union Heroes and examines CUNA-League advocacy priorities, board leadership, the impact of financial well-being efforts, fee-related compliance issues, predictions for the year ahead, and more.