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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.”

Policy & Issues

NTIA allows credit union participation in rural broadband grant program

Credit unions are eligible to participate the Broadband Equity, Access, and Deployment program, a $42.5 billion program to expand high-speech internet access, under a waiver issued this week by the National Telecommunications and Information Administration.

Policy & Issues

CU-backed legislation would remove restrictions to veterans business lending

Congress should support legislation to increase credit union lending to veteran-owned businesses, CUNA wrote to a Senate, committee for its hearing on financial services to veterans, the the Veteran Member Business Loan Act (S. 539).

February Subscriber Exclusives address security

Policy & Issues

CISA kicks off 2023 Critical Infrastructure Security and Resilience Month

The Cybersecurity and Infrastructure Security Agency kicked off the 2023 Critical Infrastructure Security and Resilience Month Wednesday, the agency’s annual effort focused on educating the public about the vital role critical infrastructure plays in the nation’s security.

Policy & Issues

CUNA rebuts merchant interchange bill claims in message to Congress

The proposed changes to credit card interchange in the big box interchange bill are a big concern for credit unions in how it would impact the 137 million members they serve nationwide, CUNA wrote to all members of Congress Tuesday.

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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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

NTIA allows credit union participation in rural broadband grant program

CU-backed legislation would remove restrictions to veterans business lending

CISA kicks off 2023 Critical Infrastructure Security and Resilience Month

CUNA rebuts merchant interchange bill claims in message to Congress

Winter 2023

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