With the Senate in Washington, D.C., this week and the House scheduled to return next week, CUNA sent its final recess message to all members of Congress Tuesday encouraging opposition to the big box interchange bill and support for field of membership modernization. 

CUNA fully supports increasing NCUA’s operating fee exemption threshold but believes $5 million is more appropriate than the proposed $2 million, it wrote in response to the agency's request for comment on the operating fee schedule methodology.

Eight Senators wrote to CFPB Director Rohit Chopra to request it stay the effective date of its 1071 rule for all credit unions and FDIC-insured banks, noting “deep concerns about the potential adverse impacts” of the rule, and also note the current legal challenge facing the CFPB.

Labor Department’s August Employment Situation reinforces CUNA's forecast that the Fed will pause its rate hikes.

NCUA, and other regulators recognize the serious impact of Hurricane Idalia on the customers and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to their supervision. The agencies encourage institutions operating in the affected areas to meet the financial services needs of their communities.

The Department of Labor issued a proposal this week to extend overtime to certain salaried workers. The proposed rule would guarantee overtime pay for most salaried workers earning less than $1,059 per week, $56,068 annually for a full-time worker.

Credit unions can learn how to use the power of technology to expand access to financial services at a Sept. 28 webinar hosted by NCUA. Registration is now open for "Fintech and ACCESS: Future Possibilities for Enhancing Financial Inclusion Through the Use of Technology,” starting at 2 p.m. ET.

Credit unions remain focused on the people they serve, CUNA Deputy Chief Advocacy Officer for Federal Government Affairs Jason Stverak wrote to members of Congress Wednesday. CUNA Board Chair—and CommunityAmerica Credit Union CEO—Lisa Ginter was featured in a video included with the message.

AACUC is hosting a conversation at 12 p.m. ET today with CUNA President/CEO Jim Nussle – who will lead America’s Credit Unions should members of CUNA and NAFCU approve the proposed merger – and NAFCU President/CEO Dan Berger. Maurice Smith, former chair of AACUC, will moderate the conversation.