The Senate Banking, Housing, and Urban Affairs Committee voted unanimouslyto advance NCUA board nominee Tanya Otsuka for a Senate floor vote. If confirmed, she would take the seat of current board member Rodney Hood, whose term expired in August.
The Consumer Financial Protection Bureau’s outline of proposals on the Fair Credit Reporting Act (FCRA) are an “unwarranted and vast expansion” of the statute and has an inappropriately limited timeline for feedback, CUNA and NAFCU wrote to the CFPB Monday.
The House and Senate are in Washington, D.C., this week, with both considering appropriations legislation on their respective chamber floors. The Senate Banking Committee will on vote on several nominations Tuesday, including Tanya Otsuka to serve on the NCUA board.
CUNA President/CEO Jim Nussle cited a Department of Defense report in response to to a military banking association mention of credit unions during written testimony during a Senate hearing last week, noting the claims counter the results of a 2022 study requested by the House of Representatives and released by the DoD.
NCUA Board Member Rodney E. Hood celebrated the significant evolution of the event and the ongoing commitment of the credit union community to DEI principles Thursday at NCUA’s 2023 Diversity, Equity, and Inclusion Summit.
The CDFI Fund announced this week the FY2024 funding round will open later this fall. According to the CDFI Fund, the FY 2024 round will consist of funding provided under the Consolidated Appropriations Act, 2023 and “forthcoming FY 2024 appropriations.”
Credit unions are eligible to participate the Broadband Equity, Access, and Deployment program, a $42.5 billion program to expand high-speech internet access, under a waiver issued this week by the National Telecommunications and Information Administration.
Congress should support legislation to increase credit union lending to veteran-owned businesses, CUNA wrote to a Senate, committee for its hearing on financial services to veterans, the the Veteran Member Business Loan Act (S. 539).
The Cybersecurity and Infrastructure Security Agency kicked off the 2023 Critical Infrastructure Security and Resilience Month Wednesday, the agency’s annual effort focused on educating the public about the vital role critical infrastructure plays in the nation’s security.
The proposed changes to credit card interchange in the big box interchange bill are a big concern for credit unions in how it would impact the 137 million members they serve nationwide, CUNA wrote to all members of Congress Tuesday.