The merger of CUNA and NAFCU culminates next week with the official launch of America’s Credit Unions. This transformation is to provide the credit union industry a stronger and more responsive voice on the national stage. NAFCU Board of Directors Chair Gary Grinnell and CUNA Board of Directors Chair Lisa Ginter recently signed documents to certify the merger.
FinCEN has issued its final beneficial ownership information (BOI) Access Rule. The Corporate Transparency Act (CTA) requires creation of a BOI database where companies and legal entities report BOI directly to FinCEN; financial institutions will have access to the database.
CUNA submitted comments to NCUA supporting regarding the Simplification of Share Insurance Rules proposal to simplify the share insurance regulations by establishing a “trust accounts” category that would provide for coverage of funds of both revocable trusts and irrevocable trusts.
NCUA is hosting a webinar on January 3 to share key data points from the 2022 Credit Union Diversity Self-Assessment Results Report and provide information on how to submit your credit union’s 2023 voluntary assessment.
The median growth rate in loans outstanding and membership at federally insured credit unions was positive over the year ending in the second quarter of 2023, according to the latest Quarterly U.S. Map Review released Wednesday by NCUA.
Credit union loans outstanding increased 0.4% in October, compared to a 0.5% increase in September of 2023 and a 1.2% increase in October of 2022, according to thelatest Monthly Credit Union Estimates.
Rep. Andy Barr, R-Ky., introduced a CUNA-supported bill that will rein-in the Consumer Financial Protection Bureau’s abuse of its authority to oversee unfair, deceptive, and abusive acts and practices, known as UDAAP.