CUNA wrote Senate Appropriations Committee leaders Thursday in strong support of several international credit union priorities. There are over 86,000 credit unions in 118 countries with $2.6 trillion dollars in total assets serving 291 million members.
NCUA Chairman Todd Harper spoke at the International Credit Union Regulators’ Network Annual Meeting on the challenges facing regulators and the credit unions and cooperatives they oversee. He said it is essential for all regulated entities to prepare for economic and financial stress.
NCUA Deputy Executive Director Rendell Jones testified before a House subcommittee Tuesday in a hearing on financial regulators and climate risk and discussed NCUA’s recent climate-related financial risk request for information and the agency's legislative priorities.
CUNA filed comments with the CFPB on its request for information on data brokers, noting the inherent sensitivity of consumer financial data highlights the need to ensure it is handled appropriately and securely. CUNA also called on the CFPB to explicitly exclude financial institutions from the definition of data brokers.
CUNA joined financial services organizations Friday in strong opposition to attaching the big box interchange bill to the FY24 National Defense Authorization Act in a letter sent to Congressional leaders, including chairs and ranking members of House and Senate Armed Services Committees.
The study released Monday by CUNA and AACUL shows the true cost of interchange, and the harm that would result of Congress passes the current interchange bill. Credit unions brought the study to policymakers and media outlets around the country picked it up as well.
The NCUA Board will vote on a final credit union bylaw rule at its July 20 board meeting, which makes the changes necessary to implement the CUNA-League-led Credit Union Governance Modernization Act. CUNA supports the rule as proposed.
CUNA urged the Senate Appropriations Subcommittee on Financial Services and General Government to increase its FY24 funding in certain key areas, including increases to the CDFI Fund, NCUA's Community Development Revolving Loan Fund, and FinCEN.
Treasury Secretary Janet Yellen announced Thursday the appointment of Andrea Gacki as director of the Treasury Department’s Financial Crimes Enforcement Network (FinCEN). Gacki presently serves as the Director of the Office of Foreign Assets Control (OFAC).
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