Reps. Juan Vargas, D-Calif., and Bill Huizenga, R-Mich., introduced the CUNA-League-led Credit Union Board Modernization Act Thursday. The bill would update the Federal Credit Union Act by modifying the requirement that credit union boards meet once a month to not less than six times per year.
The CFPB's rulemaking on personal financial data rights has the capacity to fundamentally transform financial services, CUNA submitted Wednesday to the CFPB’s Small Business Advisory Review Panel for its rulemaking on personal financial data rights.
The Treasury’s Community Development Financial Institutions (CDFI) Fund announced Tuesday it will delay proposed changes to its certification application to carefully review all public comments. This comes after CUNA, Leagues, credit unions, and joint trades engaged with the Fund and Congress with serious concerns.
The U.S. Department of the Treasury’s second application round of Emergency Capital Investment Program funding closes January 31, 2023. Treasury anticipates between $160 million and $340 million will be available for investment in qualified institutions in the second round.
The Federal Communications Commission should terminate the exemption to the call authentication requirements of the TRACED Act for non-IP networks or set deadlines for providers to upgrade to IP networks or implement an alternate caller ID framework solutions.
CUNA Senior Director of Advocacy and Counsel Elizabeth Sullivan attended the first public hearing of Federal Financial Institutions Examination Council’s Appraisal Subcommittee Tuesday, which focused on appraisal bias.
Credit union loans outstanding increased 1.2% in
November, compared to a 1.3% increase in October 2022,
and a 0.7% increase in November 2021, according to CUNA's latest Monthly Credit Union Estimates.
Credit union savings balances decreased -0.3% in
CUNA and other organizations called on the Consumer Financial Protection Bureau to comply with its statutory obligations under the Small Business Regulatory Enforcement Fairness Act (SBREFA) as part of a planned rulemaking concerning credit card penalty fees
Join CUNA’s compliance experts for a Feb. 15 webinar, “NCUA Supervisory Priorities & How CUNA’s CU CMS+ Can Help You Prepare.” The webinar hosts will break down the primary areas of focus NCUA has identified for 2023.
The NCUA Board will discuss extending the Federal Credit Union loan interest rate ceiling at its Jan. 26 meeting. CUNA wrote to the board this week urging it to act quickly to consider raising the cap beyond 18% and/or adopt a floating rate cap.