CUNA President/CEO Jim Nussle and NAFCU President/CEO Dan Berger issued a joint statement in response to the Community Development Financial Institution (CDFI) Fund’s Community Development Advisory Board’s Final and Approved CDFI Certification Recommendations adopted last week.
NCUA has observed a rise in cyberattacks against credit unions, including credit union service organizations (CUSOs), and others. These include an incident directly related to a critical vulnerability in the MOVEit Transfer web application, as well as other attacks unrelated to MOVEit.
NCUA issued a reminder this week that "having a policy or practice of requiring manual underwriting as an exception to automated underwriting systems based on a minimum or maximum age" violates the Equal Credit Opportunity Act (ECOA) and its implementing regulation, Regulation B.
Federal financial institution regulatory agencies updated existing guidance on liquidity risks and contingency planning. The updated guidance highlights that depository institutions should regularly evaluate and update their contingency funding plans.
The Federal Communications Commission should not adopt its proposal to require callers to honor opt out requests within 24 hours, CUNA and ACA International wrote to the FCC in comments filed jointly this week, noting the proposal seems to create a new regulation.
NCUA is working with federally insured credit unions affected by the recent severe storms and flooding in Vermont to help protect consumers and ensure continuity of services. The NCUA is closely monitoring the situation to determine the operating status of credit unions in the flooded areas.
The Treasury’s Community Development Financial Institutions Fund’s Community Development Advisory Board met Monday, and its CDFI Certification Subcommittee provided several recommendations to the application process echoing credit union concerns and recommendations.
Credit Union Rock Stars are outstanding credit union professionals and directors from a wide range of disciplines who inspire and innovate to advance the missions of their credit unions. The 25 members of the 11th class of Rock Stars were selected for their exceptional creativity, innovation, and passion.