CUNA and other organizations wrote to Congressional committee leadership Tuesday with requesting a meeting regarding serious concerns over the proposed new Community Development Financial Institution certification application.
The CFPB's announcement regarding auto lending data contains insufficient information and leads to questions about the bureau’s assumptions, CUNA wrote in response to a bureau press release with an attached document concerning the collection of information related to auto lending.
CUNA supports the Interagency Community Investment Committee’s (ICIC) goal of improving the effectiveness of federal community investment programs, it wrote in response to a Request for Information on improving the operations and delivery of federal community investment programs.
CUNA has several concerns with the Treasury’s Community Development Financial Institutions (CDFI) Fund’s proposed Target Market Assessment Methodologies, particularly some that are likely violations of the Equal Credit Opportunity Act and Regulation B.
Credit unions and other financial institutions need a reasonable transition period to comply with sudden changes in the 2020 Home Mortgage Disclosure Act (HMDA) final rule, CUNA and other trades wrote to Federal Financial Institution Examination Council member agencies.
CUNA strongly supports the Federal Trade Commission’s proposed rule to prohibit the impersonations—or providing the means to impersonate—government and businesses and urges the FTC to finalize the proposal as soon as feasibly possible, and once finalized, to initiate enforcement actions.
CUNA announced Robert Lewis has been hired as its new executive vice president and chief advocacy officer. Lewis, the founder and president/CEO of the Van Aucker Group, has more than 20 years of legislative experience involving financial services.
Rep. Blaine Luetkemeyer, R-Mo. Introduced a bill Thursday that would create a national data breach notification standard and pre-empt any existing state breach notification law, the Consumer Information Notification Requirement Act.
The NCUA Board issued a proposal regarding the purchase of loan participations and set the 2023 Normal Operating Level at 1.33% (same as 2022) at its Dec. 15 meeting. The board also approved the agency’s budget for 2023, a 6.2% increase over 2022, but less than proposed budget from October.
The CFPB has missed opportunities to recalibrate its regulatory approach to fulfill its consumer protection mission without impeding access to credit, CUNA wrote to the Senate Banking, Housing, and Urban Affairs Committee Thursday.
Credit Union Magazine’s Spring 2023 issue features the 2023 Credit Union Heroes and examines CUNA-League advocacy priorities, board leadership, the impact of financial well-being efforts, fee-related compliance issues, predictions for the year ahead, and more.