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NCUA releases 2022 Annual Report

NCUA released its 2022 Annual Report, highlighting the agency’s activities, policy initiatives, and accomplishments for the past year, including its NCUA’s most significant initiatives in 2022 grouped into five categories.

Compliance: CECL implementation delay made official by FASB

Policy & Issues

NCUA updates simplified CECL Tool for March 31

NCUA released the March 2023 update of its Simplified CECL Tool. For credit unions that started using the Simplified CECL Tool in the first part of 2023, this release is to determine the credit loss expense from the date of adopting CECL until March 31, 2023.

Policy & Issues

CUNA outlines FY24 credit union federal budget priorities

CUNA wrote to the House Budget Committee outlining several credit union appropriations priorities for fiscal year 2024, noting credit unions are the types of community lenders that are suited to meet the needs of members and communities.

Policy & Issues

Bill would establish ‘appropriate compliance timeline’ for section 1071

CUNA wrote in support of legislation to establish an “appropriate” compliance timeline for the CFPB's section 1071 rulemaking.

Policy & Issues

CUNA calls for appropriate funding for international CU priorities

CUNA wrote to members of House and Senate Appropriations subcommittees in strong support of FY2024 funding levels for several international credit union priorities, including the Cooperative Development Program and Credit for Agriculture producers' Technical Assistance Project.

Policy & Issues

CUNA calls for CDFI, CDRLF, FinCEN funding in FY24

CUNA wrote Congressional appropriations leaders in support of several credit union priorities this week, including the CDFI Fund, NCUA's Community Development Revolving Loan Fund, and increased funding for Treasury's Financial Crimes Enforcement Network.

Policy & Issues

CUNA economics: Fed raises rates despite bank failures

CUNA Senior Economist Dawit Kebede said the FOMC's increase of the federal funds rate by 25 basis points shows consumer demand seems too strong for inflation to come down consistent with the Federal Reserve's target.

Policy & Issues

Stverak to Congress: CUs are stable, necessary, popular choice for consumers

The credit union difference makes a secure financial option for consumers, CUNA Deputy Chief Advocacy Officer wrote to all 535 Congressional offices Tuesday, and it helps improve the financial well-being of members and communities.

Policy & Issues

equipifi Wins Best of Show at CUNA GAC

equipifi, a fintech company enabling credit unions with buy now, pay later (BNPL) offers for purchases made on debit cards, was awarded with the CUNA Technology Council’s Best of Show Award at the 2023 CUNA Governmental Affairs Conference (GAC).

Policy & Issues

Yellen testimony, SBA, cybersecurity hearings scheduled this week

Treasury Secretary Janet Yellen and Secretary of State Anthony Blinken are scheduled to testify before Congressional appropriators this week, and CUNA is also engaged with small business and cybersecurity hearings.

Summer 2023

Credit Union Magazine’s Summer 2023 issue highlights the lending outlook for the rest of the year, how credit unions leverage fintech companies to boost digital lending, the power of lending partnerships, common Bank Secrecy Act violations, and the shift board members must make when becoming chair.

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NCUA releases 2022 Annual Report

NCUA updates simplified CECL Tool for March 31

CUNA outlines FY24 credit union federal budget priorities

Bill would establish ‘appropriate compliance timeline’ for section 1071

CUNA calls for appropriate funding for international CU priorities

CUNA calls for CDFI, CDRLF, FinCEN funding in FY24

CUNA economics: Fed raises rates despite bank failures

Stverak to Congress: CUs are stable, necessary, popular choice for consumers

equipifi Wins Best of Show at CUNA GAC

Yellen testimony, SBA, cybersecurity hearings scheduled this week

Summer 2023

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