Registration is now open for NCUA's third summit focused on diversity, equity, and inclusion, set for Nov.2 to 4. The theme of this year’s summit is All-In on DEI & ACCESS. ACCESS is NCUA’s initiative for Advancing Communities through Credit, Education, Stability, and Support.

CUNA supports the FTC’s effort to develop a rule addressing bad actors in the auto dealer market but believes FTCs proposal on the matter needs further clarification, and that language in the proposal is “opaque and goes far beyond malevolent behavior.”

The House and Senate are in Washington, D.C., this week. The Senate is expected to consider pending nominations, and the House will consider legislation. The Senate Banking Committee will conduct hearings on new consumer financial products and SEC oversight.

CUNA and the National Sheriffs’ Association (NSA) have entered into a strategic collaboration agreement in support of the NSA’s Inmate Growth Naturally and Intentionally Through Education (IGNITE) program, which helps incarcerated people obtain vital life skills, such as financial education. 

The 11th Circuit Court of Appeals vacated the plaintiff’s standing Thursday in Hunstein v. Preferred Collection and Management Services Inc., a Fair Debt Collection Practices Act lawsuit. CUNA filed a brief stating that a ruling for the plaintiff would threaten the broader financial services industry.

The National Institute of Standards and Technology is hosting a virtual, informal discussion on the update of the NIST Cybersecurity Framework. Financial institutions and stakeholders are invited to attend the Sept. 12 event.

The Treasury’s Community Development Financial Institutions (CDFI) Fund issued CUNA-requested supplemental guidance Thursday for CDFIs currently in a certification cure period. CUNA has engaged with the CDFI Fund in recent months over CDFI credit unions receiving blanket cure notices and having their CDFI designation terminated without meaningful information or guidance.

Credit Union Legislative Action Council (CULAC) and the Cooperative Credit Union Association (CCUA) supported eight credit union-friendly candidates in their primaries Tuesday. CULAC and state leagues have backed 328 credit union proponents this cycle with a 96% success rate.   

CUNA joined organizations Wednesday requesting the Consumer Financial Protection Bureau (CFPB) change its request for comment regarding report of terms from credit card agreements. The CFPB issued its request to revise its existing collection but does not specify what the proposed revisions are.

Total loans outstanding in federally insured credit unions increased $194 billion, or 16.2%, over the year ending in the second quarter of 2022, to $1.39 trillion, according to NCUA's latest financial performance data.