The CUNA-supported Expanding Financial Access for Underserved Communities Act would ensure small businesses would be able to access the capital they need, and financial inclusion and access to capital are critical to ensuring the survival of vulnerable small businesses.
NCUA Chairman Todd Harper testified before the Senate Banking, Housing, and Urban Affairs Committee Thursday. Harper—who joined the board in 2019 and was named chairman in January—has been re-nominated by President Joe Biden for an additional term.
The Senate Thursday confirmed Rohit Chopra to be the next director of the CFPB. Chopra comes to the CFPB from the Federal Trade Commission where he was a commissioner. He previously served as assistant director and student loan ombudsman at the CFPB
The House and Senate both passed a continuing resolution Thursday to fund the federal government through Dec. 3, hours before funding was set to expire.
Additional Congressional action will be needed to address the economic consequences of the pandemic, including legislation that provides relief and spurs economic growth for credit unions, their members, and communities.
A proposal requiring increased financial institution reporting to the IRS is fundamentally flawed, CUNA Chief Advocacy Officer Ryan Donovan wrote to all 535 Congressional offices Wednesday citing concerns about the privacy of their nontax-related financial information.
Credit unions strongly support the enactment of a national data security and data privacy law that includes robust security standards that apply to all who collect or hold personal data and is preemptive of state laws and believe there can be no data privacy without strong data security
CUNA supported a credit union governance modernization bill and commented on oversight of fintech companies in a letter to a House subcommittee Wednesday for the record of a hearing on the future of financial services.
American credit unions—like their counterparts around the world—are vastly different than large international banks and should be regulated as such, CUNA Chief Advocacy Ryan Donovan said during a World Council of Credit Unions webinar on the importance of proportionality..
Privacy and data security concerns are among the top issues with proposed increased reporting requirements, CUNA wrote Tuesday in support of a bill that would prevent a proposal requiring financial institutions to report large amounts of account information to the IRS from being implemented.
Credit Union Magazine’s Fall 2023 issue examines how artificial intelligence is shaping marketing, strategies to improve cyber hygiene and overall cybersecurity, the need to employ risk management to address inflation and its impacts, new approaches to board recruiting, and NCUA’s top supervisory priorities.