CUNA Chief Advocacy Officer Ryan Donovan spoke about credit union support of the SAFE Banking Act at the Credit Union Association of New Mexico’s Canna Biz conference, including a look at potential paths forward for the bill.
Lawmakers must fully understand the additional compliance required by taxpayers and financial institutions under proposed new Internal Revenue Service reporting requirements, CUNA and more than 100 organizations wrote to Congressional leaders Thursday.
CUNA wrote in support Thursday of the Expanding Opportunities in Banking Act, draft legislation that would amend the Federal Credit Union Act to expand employment opportunities for those with a previous minor criminal offense.
The NCUA board will vote on final rules involving credit union service organizations and the CAMELS rating system at its Oct. 21 meeting. The meeting will be available via live audio stream starting at 10 a.m. (ET) on NCUA.gov on Oct. 21.
Any changes to risk-based capital requirements—including the proposed adoption of a complex credit union leverage ratio—requires a delay of the Jan. 1, 2022 RBC effective date. CUNA continues to believe the the 2015 RBC rule is “functionally unnecessary.”
CUNA followed up NCUA Chairman Todd Harper’s hearing before a Senate committee with a letter to Harper regarding several issues discussed at the hearing, including CUNA and credit union objection to altering the agency’s risk-focused examination process.
CUNA Senior Economist Dawit Kebede said inflation remained high in September, as expected, due to continued supply disruptions and labor shortages in response to the Bureau of Labor Statistics September Consumer Price Index report.