Maine Credit Unions is launching their third annual Campaign for Ending Hunger, a 30-day challenge to raise $100,000, on June 1.

CUNA Chief Economist Mike Schenk discusses the overall health of the economy, the Federal Reserve’s next steps, and the stock market in the latest Economic Update.

CUNA strongly supports the HUD proposal to increase the term limit for modification of FHA mortgage loans to 40 years. HUD’s current regulations prescribe FHA loan servicers may modify a loan for a term of no more than 30 years (360 months).

CUNA appreciates the CFPB bolstering its oversight of nonbanks in consumer financial services, it said in comments on a procedural rule amending the procedures the CFPB uses to establish supervisory authority over a nonbank based on risk determination.

NCUA issued a Letter to Credit Unions clarifying certain expectations for credit unions contemplating the use of new or emerging distributed ledger technologies.

CUNA and other organizations filed a Freedom of Information Act (FOIA) request with the Consumer Financial Protection Bureau (CFPB) Thursday on the bureau’s implementation of section 1071 of the Dodd-Frank Act.

There are many open questions surrounding central bank digital currencies, CUNA wrote to the House Financial Services Committee Thursday for its hearing on CBDCs noting concerns that that under several scenarios, the creation of a CBDC could significantly worsen the provision of financial services.

Current notary requirements requiring the physical presence of the signer are often impractical, particularly with COVID-19 related distancing practices, CUNA and other organizations wrote in support of the SECURE Notarization Act (H.R. 3962).

The NCUA board heard a quarterly update on the National Credit Union Share Insurance Fund at today’s board meeting. Agency staff reported a net income of $54.4 million and a net position of $20.4 billion for the quarter ending March 31.

A bipartisan group of Senators today introduced a bill to update credit union board meeting requirements. The bill has a bipartisan House companion, introduced in March.