CUNA Deputy Chief Advocacy Officer Jason Stverak encouraged members of Congress to visit credit unions in their state during the upcoming recess and to visit CUNA's Advancing Communities website to see how credit unions are making an impact on members and communities.
The CFPB must release the underlying data on which its credit card late fee proposal is based on and extend the comment deadline to give time for stakeholders to analyze the data, CUNA and other organizations wrote Thursday.
The NCUA Board approved its final rule on subordinated debt at its Thursday meeting. Board members also reiterated the safety and soundness of the credit union system in the wake of the Silicon Valley Bank collapse.
CUNA Senior Economist Dawit Kebede said the February Consumer Price Index Report shows the smallest increase since December 2021, and there may be more reduction in the next few months as the CPI starts showing reduction in housing rents.
The collapse of Silicon Valley Bank last week is the second largest failure of a financial institution in U.S. history. While this situation does not include any credit union failure, it may still create consumer concerns and questions for credit unions.
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.