The Senate confirmed Sandra Thompson as director of the Federal Housing Finance Agency Wednesday by a 49-46 vote. Thompson has served as acting director since June 2021, and has met with CUNA leaders while at the agency.

CUNA strongly supports efforts to pass a long-term reauthorization of the National Flood Insurance Program through 2027, it wrote to the House Financial Services Subcommittee on Housing, Community Development, and Insurance Wednesday.

Sixteen credit union champions in Alabama, Arkansas, and Georgia saw victories Tuesday in primary elections. Candidates were supported by the Credit Union Legislative Action Council (CULAC), CUNA’s federal political action committee, the League of Southeastern Credit Unions and Affiliates and Cornerstone League.

The Senate is in Washington, D.C. this week, and the House will conduct hearings but will not consider any legislation on the House floor. A House Financial Services Subcommittee hearing Wednesday will cover reauthorization and reform of the National Flood Insurance Program.

The Cybersecurity and Infrastructure Security Agency issued an emergency directive requiring federal civilian executive branch agencies running specific VMware products to apply VMware updates or remove the products from agency networks until the update can be applied.

CUNA appreciates the Federal Reserve’s look into a central bank digital currencies but believes a focus on the issues the currency intends to solve and a more refined outline of its design is necessary.

The NCUA board will hear a quarterly briefing on the National Credit Union Share Insurance Fund (NCUSIF) at its May meeting. The meeting is scheduled to begin at 10 a.m. ET and will be streamed live on NCUA.gov.

CUNA wrote in support of legislation to aid veteran homeownership—the Building Credit Access for Veterans Act—this week. The letter was sent for the record of a House Veterans Subcommittee on Economic Opportunity hearing on several pieces of legislation.

CUNA and other organizations provided feedback to a communications task force Wednesday regarding the use of an enhanced signaling protocol (SIP Code) for voice service providers to notify callers a voice service provider has blocked their call.

The House Financial Services Committee advanced the CUNA-League-led Expanding Financial Access for Underserved Communities Act (H.R 7003). The bill represents the most significant proposed update to the Federal Credit Union Act since 1998.