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FHFA releases comprehensive review of FHLBank system

The Federal Housing Finance Agency released its comprehensive report on the FHLBank system Tuesday. CUNA engaged with the FHFA throughout the process on the benefits credit union members see from credit union membership in the FHLBank system, and the report contains several of CUNA’s recommendations.

Policy & Issues

CFPB proposal would extend supervision to digital wallet, payment app companies

The CFPB issued a proposal Tuesday to extend supervision and examinations to larger nonbank companies that offer services that include digital wallet and payment apps handling more than 5 million transactions per year.

Policy & Issues

CUNA, NAFCU request extension for comments on share insurance proposal

CUNA and NAFCU requested NCUA extend the comment deadline for its proposal to simplify share insurance coverage rules by 30 days in a letter sent Tuesday. Comments are currently scheduled to close Dec. 26.

Staff training key to mitigating compliance risk

Policy & Issues

Overtime rule would disproportionately impact small, rural CUs

CUNA has concerns about how the Department of Labor’s (DOL) overtime proposal may affect small credit unions and those in rural and low-cost areas, it wrote to the DOL in comments filed Tuesday.

Policy & Issues

Senate Banking Committee advances Otsuka nomination for NCUA board

The Senate Banking, Housing, and Urban Affairs Committee voted unanimously to advance NCUA board nominee Tanya Otsuka for a Senate floor vote. If confirmed, she would take the seat of current board member Rodney Hood, whose term expired in August.

Policy & Issues

FCRA proposals are ‘unwarranted’ expansion, lack concrete data

The Consumer Financial Protection Bureau’s outline of proposals on the Fair Credit Reporting Act (FCRA) are an “unwarranted and vast expansion” of the statute and has an inappropriately limited timeline for feedback, CUNA and NAFCU wrote to the CFPB Monday.

Policy & Issues

Otsuka committee vote, appropriations bills scheduled this week

The House and Senate are in Washington, D.C., this week, with both considering appropriations legislation on their respective chamber floors. The Senate Banking Committee will on vote on several nominations Tuesday, including Tanya Otsuka to serve on the NCUA board.

Policy & Issues

CUNA responds to bank attack during hearing on military financial inclusion

CUNA President/CEO Jim Nussle cited a Department of Defense report in response to to a military banking association mention of credit unions during written testimony during a Senate hearing last week, noting the claims counter the results of a 2022 study requested by the House of Representatives and released by the DoD.

Building a diverse workforce from the STEM up

Policy & Issues

NCUA’s Hood lauds growth of DEI Summit, industry progress

NCUA Board Member Rodney E. Hood celebrated the significant evolution of the event and the ongoing commitment of the credit union community to DEI principles Thursday at NCUA’s 2023 Diversity, Equity, and Inclusion Summit.

Policy & Issues

CDFI Fund tells FIs to prepare for FY24 funding round

The CDFI Fund announced this week the FY2024 funding round will open later this fall. According to the CDFI Fund, the FY 2024 round will consist of funding provided under the Consolidated Appropriations Act, 2023 and “forthcoming FY 2024 appropriations.”

Winter 2023

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.

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Policy & Issues
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FHFA releases comprehensive review of FHLBank system

CFPB proposal would extend supervision to digital wallet, payment app companies

CUNA, NAFCU request extension for comments on share insurance proposal

Overtime rule would disproportionately impact small, rural CUs

Senate Banking Committee advances Otsuka nomination for NCUA board

FCRA proposals are ‘unwarranted’ expansion, lack concrete data

Otsuka committee vote, appropriations bills scheduled this week

CUNA responds to bank attack during hearing on military financial inclusion

NCUA’s Hood lauds growth of DEI Summit, industry progress

CDFI Fund tells FIs to prepare for FY24 funding round

Winter 2023

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