Credit unions are now protected by a nationwide injunction preventing implementation of the CFPB's section 1071 rule, after the U.S. District Court for the Southern District of Texas issued an order staying the rule for all covered financial institutions.

Credit unions are concerned that the exponential growth of "buy now, pay later" products has outpaced prudential regulatory oversight and will ultimately lead to consumer harm, CUNA wrote to a House Financial Services subcommittee for its hearing on innovation in financial services.  

The Federal Reserve issued a proposal Wednesday to make significant changes to the current debit card interchange cap.
CUNA strongly opposes any changes—legislative or regulatory—to the current interchange system.

Rep. Mike Johnson, R-La., was elected the 56th Speaker of the House Wednesday. Johnson—first elected to Congress in 2016—is a credit union member and supporter.  

Achieving a balance between facilitating legitimate calls while preventing illegal calls is necessary to restore trust in our communications network, CUNA wrote to a Senate subcommittee Tuesday for its hearing on robocalls. 

Both chambers of Congress are in Washington, D.C., this week. CUNA will be engaged with a Senate Commerce subcommittee hearing on robocalls, and a House Financial Services subcommittee hearing on buy now, pay later" products.

CUNA , NAFCU, and other organizations wrote to the Federal Reserve Board, urging it to reject merchant requests for further changes to Regulation II governing debit card interchange fees. It will meet Oct. 25 to discuss ‘proposed revisions to the debit interchange fee cap.’

Credit union loans outstanding increased 0.8% in August, compared to a 0.7% increase in July of 2023 and a 1.7% increase in August of 2022, according to CUNA's latest Monthly Credit Union Estimates.

CUNA wrote to all members of Congress Thursday in recognition of the 75^th International Credit Union Day, highlighting the many ways not-for-profit financial cooperatives help people and communities succeed.