The House passed the CUNA-supported Fair Hiring in Banking Act (H.R. 5911) Wednesday. The bill would replace the current ban on those interested in working in the banking sector with previous minor criminal records.
Three credit union supporters were successful in Tuesday’s primary elections in Nebraska and West Virginia. They were supported by the Nebraska Credit Union League and the Credit Union Legislative Action Council, CUNA’s federal political action committee.
Credit union loans outstanding increased 1.6% in March, compared to a 1.1% increase in February of 2022 and a 0.1% increase in March of 2021, according to CUNA’s latest Monthly Credit Union Estimates.
CUNA issued an action alert Friday calling on the Senate Judiciary Committee to oppose any changes to the current interchange system ahead of a May 4 hearing.
Financial institutions should be permitted to lawfully serve businesses that engage in cannabis-based businesses authorized under their state laws, even when such activity may be inconsistent with federal law, said CUNA in a letter to Senate leadership Friday.
CUNA called on the National Credit Union Administration (NCUA) this week to provide additional prompt corrective action (PCA) relief that would help credit unions remain operational in the wake of the COVID-19 pandemic.
CUNA and World Council of Credit Unions (WOCCU) urge the Cooperative Development Program (CDP) to increase its 2023 fiscal year funding to $50 million in letter sent to House and Senate State, Foreign Operations, and Related Programs Subcommittees.
Fintechs are circumventing consumer protection rules by exploiting regulatory gaps to provide financial services, CUNA wrote to House Financial Services Committee Task Force on Financial Technology.
It is important that critical measures to track and investigate financial crimes involving money laundering and terrorism not create compliance burdens that impede credit unions’ ability to serve consumers, CUNA stated in a letter to the House Financial Services Committee Thursday.
The Consumer Financial Protection Bureau (CFPB) has missed many opportunities to leverage credit unions’ mission, CUNA, AACUL, and the Leagues wrote to the House Committee on Financial Services on Tuesday.