Montana’s Credit Unions and the Dakota Credit Union Association faced off in a “Border Battle” to raise more than $6,000 for CU4Kids as their states’ collegiate football teams prepared to clash on the field in the FCS Football Championship.

CUNA raised several pertinent credit union issues with new Ginnie Mae President Alanna McCargo in a letter Thursday. Ginnie Mae has long excluded credit unions from its definition of “depository institutions,” which CUNA says has no statutory basis.

CUNA supports efforts for increased financial equity but believes the CFPB's proposed data collection under Section 1071 of Dodd-Frank could present unintended consequences. The section requires financial institutions collect and report certain data regarding applications for credit.

It’s critically important that credit unions show their work by showing up, CUNA Chief Advocacy Officer Ryan Donovan wrote as the 2022 CUNA GAC approaches. Donovan said GAC is the time for credit unions to hammer home the credit union difference to policymakers.

The Expanding Financial Access for Underserved Communities Act would significantly address the epidemic of the unbanked and underbanked, CUNA wrote to a Senate subcommittee, and also reiterated its support of the CDFI Fund, which supports 417 CFDI-certified credit unions.

CUNA supports a proposed accounting standards update from that would would eliminate Troubled Debt Restructuring (TDR) accounting requirements for those entities that have adopted the current expected credit loss (CECL) standard.

NCUA issued a Regulatory Alert with the 2022 annual adjustments for exemption thresholds under the Truth in Lending Act (TILA or Regulation Z) and the Consumer Leasing Act (CLA or Regulation M) and an annual adjustment to the maximum amount credit bureaus may charge consumers.

Reid served for 30 years in the U.S. Senate, and oversaw the passage of the Dodd-Frank Act.

Credit union loans outstanding increased 1.0% in October, compared to a 0.6% increase in September of 2021 and a 0.2% increase in October of 2020 according to CUNA’s latest Monthly Credit Union Estimates.

Temporary modifications will remain effective until Dec. 31, 2022.