CUNA strongly supports the Financial Crimes Enforcement Network’s (FinCEN) effort to establish a no-action letter process, it wrote to FinCEN Friday. No-action letters come from government agencies stating it will not take legal action should an entity proceed with a proposed course of action.
Ginnie Mae issued an amendment to its mortgage-backed securities guide removing credit unions’ categorization as non-bank mortgage lenders and recognizing them as insured depositories regulated by prudential regulator, which CUNA has strongly advocated for.
CUNA and other organizations filed a brief in the 2nd Circuit Court of Appeals Thursday in Sessa v. TransUnion stating the FCRA requires credit reporting agencies to guard against factual inaccuracies, not to resolve legal disputes.
CUNA wrote Sen. Jon Ossoff, D-Ga., asking him to reconsider his Improving Cybersecurity of Credit Union Act, a bill that would give NCUA authority over third-party vendors. The League of Southeastern Credit Unions and Affiliates shared CUNA’s concerns.
NCUA, and other regulators are inviting comment on a proposed policy statement for prudent commercial real estate (CRE) loan accommodations and workouts. Comments are due 60 days from date of publication in the Federal Register.
Thirty-one credit union-friendly candidates won their primary races in Arizona, Kansas, Michigan, Missouri, and Washington Tuesday. Credit Union Legislative Action Council (CULAC) and state leagues have backed 255 credit union champions with a 97% success rate this election cycle.
CUNA issued an action alert Tuesday calling on credit unions to share their concerns with the interchange bill introduced by Sens. Dick Durbin, D-Ill., and Roger Marshall, R-Kan. The bill would allow merchants to route payments through an unaffiliated network.
CUNA joined other trade groups Tuesday in filing a petition with the Consumer Financial Protection Bureau (CFPB) calling for a rulemaking to strengthen privacy and security of consumer data held by fintechs, tech companies, and data aggregators. The is the first time CUNA has used the CFPB petition process that was updated in February.
The Community Development Financial Institutions Fund (CDFI) will host an informational conference call for CDFIs currently in a Certification cure period related to the submission of a 2021 or 2022 Annual Certification and Data Collection Report (ACR). The call is scheduled for 3 to 4 p.m. ET, on August 10.
Credit Union Magazine’s Spring 2022 edition highlights inclusive lending, succession planning, fair lending and artificial intelligence, and the use of environmental, social, and governance (ESG) as a competitive differentiator.