CUNA posted initial analysis of the Community Development Financial Institution Certification Application on CUNA’s Compliance Community, and while it will take weeks to dig into the complete details, changes appear to be ultimately positive.
The House and Senate are in Washington, D.C., this week and both are expected to consider the conference report for the FY24 National Defense Authorization Act (NDAA), in addition to other legislative matters. The NDAA contains no financial services-related provisions.
The NCUA Board will vote on a final 2024-25 budget and issue a request for comment on its Overhead Transfer Rate (OTR) methodology at its Dec. 14 meeting. The meeting is scheduled to begin at 10 a.m. ET and will be streamed live on NCUA.gov.
The CFPB took action Thursday against Atlantic Union Bank for enrolling thousands of customers in overdraft programs covered by the Electronic Fund Transfer Act without the proper consent. The consent order covered both in-person consumers and consumers who opened accounts by phone.
America’s credit unions play an integral role in helping working families achieve homeownership, CUNA and NAFCU wrote to a House Financial Services subcommittee in advance of its hearing on housing affordability.
Rep. Kevin McCarthy, R-Calif., announced Wednesday he will resign from Congress at the end of the year. McCarthy, who served as Speaker of the House from January to October, has served in Congress since 2007 and has been a strong credit union supporter dating back to before his time in Congress.
CUNA President/CEO Jim Nussle and Deputy Chief Advocacy Officer Jason Stverak were named among The Hill’s top lobbyists for 2023 as “impactful advocates [that] stand out for the results they’ve delivered for their clients, companies, trade associations and advocacy groups in the nation’s capital.”
CUNA, NAFCU, and financial services organizations wrote to President Joe Biden this week asking for him to emphasize the need for proper rulemaking procedure, noting the CFPB continues to issue guidance that operates as a rule without the notice and comment process.
More needs to be done to ensure credit unions have the tools and mechanisms to reach new consumers who are not currently being served, CUNA and NAFCU wrote to a House Financial Services subcommittee prior to its hearing on financial innovation.
The Winter 2023 issue of Credit Union Magazine explores award-winning marketing, board training on a budget, developments in instant payments, service to small businesses, and NCUA’s final rule on member expulsion.