CUNA and Leagues issued an action alert urging credit union stakeholders to oppose the Credit Card Competition Act, introduced Wednesday. Messages can be sent to elected officials through CUNA’s Grassroots Action Center.
CUNA wrote the House Financial Services Subcommittee on Financial Institutions and Monetary Policy in response to two pieces of draft legislation discussed at its Tuesday hearing on treasury markets and financial institutions.
CUNA and other organizations support the Federal Communications Commission’s efforts to identify and implement solutions to stop bad actors from sending fraudulent texts, CUNA wrote in reply to previous comments on the FCC’s proposal on targeting and eliminating unlawful text messages.
Sens. Roger Marshall, R-Tenn., Dick Durbin, D-Ill., Peter Welch, D-Vt., and J.D. Vance, R-Ohio, introduced the CUNA, League, and credit union-opposed Credit Card Competition Act Wednesday. CUNA sent letters to House and Senate leadership Wednesday morning detailing the numerous negative effects the bill would have on credit unions, consumers, and small businesses.
NCUA is hosting a webinar to discuss federal government efforts to combat bias in home valuations and increase opportunities for homeownership and relevant resources available for consumers and credit union professionals. It will take place June 21 at 1 p.m. ET.
CUNA and other trade associations representing the financial services industry released the following joint statement opposing legislation creating new credit card routing mandates that would reduce access to credit for those who need it the most.
Credit unions urge members of Congress to oppose any legislation affecting the security and efficiency of the interchange system, CUNA Deputy Chief Advocacy Officer Jason Stverak wrote. Grocers are visiting Washington, D.C., this week and CUNA expects them to push for credit union-opposed interchange legislation.
The House and Senate are in Washington, D.C., this week, with the House to consider legislation on the floor, and the Senate to consider executive nominations. Hearings of note will cover "junk fees," blockchain, and the U.S. dollar's status as a global reserve currency.
CISA and other domestic and international agencies published a joint Cybersecurity Advisory to highlight a People’s Republic of China state-sponsored actor, also known as Volt Typhoon, that is working to compromise networks and conduct malicious activity.
CUNA Senior Economist Dawit Kebede said the Labor Department’s May Employment Situation shows hiring much higher than the consensus expectation, signaling a stronger labor market. The report also revised up job gains in the prior two months by 93,000, bringing the three-month average job growth to 283,000.
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.