CUNA wrote in opposition to any potential expansion of the credit union lease arrangement with military bases to banks in a letter sent to Senate Armed Services Committee leaders Friday asking the committee to reconsider the language included in its FY23 NDAA.
The NCUA board will vote on proposed rules on member expulsion and subordinated debt at its Sept. 22 meeting. The board will also hear a quarterly update on the National Credit Union Share Insurance Fund.
NCUA has awarded more than $1.5 million in Community Development Revolving Loan Fund grants to help 90 low-income credit unions expand outreach to underserved communities, participate in mentoring relationships, receive training, and improve digital services and security.
CUNA supports efforts from 40 members of Congress asking if the Small Business Administration has the legal authority to make certain PPP loans with “excess loan amount errors” eligible for loan forgiveness or whether a statutory change is required.
The CUNA HR & Organizational Development Council recently announced changes to their 2022-23 executive committee through their regular elections and appointments. The Council also appointed a League representative to the group’s executive committee.
Sens. Roger Marshall, R-Kan., and Dick Durbin, D-Ill. are meddling in banking networks that protect financial data, benefit consumers and provide fast, efficient transactions, wrote Spero Financial Credit Union President/CEO Brian McKay in The Post & Courier.
Five credit union-friendly candidates won their primary races in Delaware, New Hampshire and Rhode Island Tuesday. Credit Union Legislative Action Council (CULAC) and state leagues have backed 333 credit union proponents this cycle with a 96% success rate.
NCUA released a new tool Wednesday to help small credit unions comply with the CECL standard, which goes into effect for most credit unions Jan. 1, 2023. CUNA has called on NCUA to provide guidance to credit unions on CECL implementation.
Credit unions are heavily regulated for safety and soundness, unlike “buy now, pay later” (BNPL) products increasingly used by consumers, CUNA wrote to the Senate Banking, Housing, and Urban Affairs Committee.
CUNA Senior Economist Dawit Kebede said despite indications of a slow-down in headline inflation in the last two months, it is still much higher than the Federal Reserve's target of 2%, in response to the Labor Department’s August Consumer Index Report.
Credit Union Magazine’s Fall 2022 issue highlights credit unions’ role in cryptocurrency, the state of digital assets, cannabis banking compliance, the human side of technology implementation, and involving the board in financial discussions.