The CFPB has declined to recalibrate its regulatory approach to fulfill consumer protection mandates without impeding access to safe and affordable financial services, CUNA wrote to a Senate Banking, Housing, and Urban Affairs subcommittee on a hearing about fees.

Reps. Vicente Gonzalez, D-Texas, and Brian Fitzpatrick, R-Pa., introduced the bipartisan Member Business Loan Expansion Act Tuesday. The bill would expand credit union business lending ability to $100,000 (up from the current $50,000) and allow federal credit union loan maturities past 15 years.

CUNA wrote the House Financial Services Committee Tuesday in support of a resolution to void the CFPB's section 1071 rulemaking via the Congressional Review Act. The 1071 rule—finalized in March—would require credit unions to collect and report certain data on applications for credit.

CUNA joined trade associations representing virtually all credit unions and banks—including those primarily serving the military—in a joint statement strongly opposing the effort by Sen. Roger Marshall, R-Kan., to derail the National Defense Authorization Act (NDAA) unless he receives consideration for his interchange bill as an amendment.

The Senate is expected to vote on its FY24 National Defense Authorization Act this week, with Senators currently attempting to attach the CUNA, League, and credit union-opposed Credit Card Competition Act as an amendment.

CUNA provided technical recommendations Friday on the Community Development Financial Institutions Fund’s Certification Application and Certification Agreement. The CDFI Fund has paused applications while it finalized a new Certification Application.

CUNA called on all stakeholders to contact their senator in opposition to attaching the Credit Card Competition Act to the Senate FY24 National Defense Authorization Act. Stakeholders can message their U.S. Senator using CUNA’s Grassroots Action Center.

The NCUA Board adopted a final rule implementing the Credit Union Governance Modernization Act at its Thursday meeting. The bill—and subsequent rulemaking—updates the federal credit union member expulsion process.