The Treasury’s Office of Cybersecurity and Critical Infrastructure Protection has been working closely with its financial services sector partners to respond to a ransomware incident last week targeting a financial institution and encourages all members of the financial services sector to review the relevant alerts.
America’s Credit Unions Transition Board of Directors Chair Brian Schools and Vice Chair Lisa Ginter are encouraging credit unions to embrace the industry’s cooperative spirit as the new organization begins its transformative journey in 2024.
The House passed a continuing resolution Tuesday to fund the federal government into 2024, with current funding scheduled to expire Nov. 17. It would fund several areas—including financial services provisions and the National Flood Insurance Program—through Feb. 2.
CUNA Senior Economist Dawit Kebede said the Labor Department’s October Consumer Price Index Report shows overall prices remain unchanged in October relative to September. The headline inflation over the last 12 months increased by 3.2%, down from 3.7% the previous month.
CUNA, NAFCU, and other financial services organizations wrote to the CFPB Tuesday urging it to deny the recent petition seeking of a regulation banning pre-dispute arbitration provisions in contracts for consumer financial services.
Congress and NCUA should work with credit unions to pursue a legislative and regulatory approach aimed at ensuring credit unions can continue to serve their millions of members, CUNA and NAFCU wrote to the House Financial Services Committee prior to federal financial regulatory testimony.
The Federal Reserve published its interchange proposal Tuesday in the Federal Register with a comment deadline of Feb. 12. CUNA, Leagues, and credit unions strongly oppose changes to the current interchange system and are collaborating on a response with other financial services stakeholders.
The House and Senate are in Washington, D.C., and both chambers are expected to work on legislation funding the government past Nov. 17. Federal financial regulators—including NCUA Chairman Todd Harper and Fed Vice Chairman for Supervision Michael Barr—will testify before committees this week.
Rep. Derek Kilmer, D-Wash., announced Thursday he will not seek re-election in 2024. Kilmer—who has served in Congress since 2013—supports several credit union priorities, including the SAFE Banking Act and the Credit Union Board Modernization Act.
The NCUA board will vote on the final charitable donation account rule at its Nov. 16 meeting, and hear a quarterly briefing on the National Credit Union Share Insurance Fund. The meeting will begin at 10 a.m. ET and be streamed live on NCUA.gov.
The Winter 2023 issue of Credit Union Magazine explores award-winning marketing, board training on a budget, developments in instant payments, service to small businesses, and NCUA’s final rule on member expulsion.