The Consumer Financial Protection Bureau (CFPB) extended the comment deadline for its customer service request for information (RFI) by 30 days, the new deadline is August 22. Comments were originally due July 21.
The House and Senate are in Washington D.C., this week. The House is expected to vote on a “minibus” appropriations package containing six bills, including the FY23 Financial Services and General Government (FSGG) bill.
Credit unions are invested in their communities because they are a part of the community, CUNA Deputy Chief Advocacy Officer for Congressional Relations Jason Stverak said in a radio interview this week, also addressing rising consumer costs and the climate for business lending.
The NCUA Board will vote on a proposed cyber incident notification rule and a final supervision asset threshold rule at its July 21 meeting. The meeting will be conducted via webcast starting at 10 a.m. ET on NCUA.gov.
The CFPB is accepting applications to its Credit Union Advisory Council and other advisory committees through July 24. The CUAC advises the CFPB on regulating and consists entirely of representatives from CUNA member credit unions.
The House passed the FY23 National Defense Authorization Act late Thursday with several CUNA-supported provisions, including the SAFE Banking Act, extended CARES Act Central Liquidity Facility flexibility, and language supporting fair hiring in financial services.
The Credit Union Board Modernization Act (H.R. 6889) would free up credit union resources to better serve members, CUNA wrote to bill sponsors Reps. Juan Vargas, D-Calif., and Anthony Gonzalez, R-Ohio.
Congress should recognize the role of credit unions in serving military members and their families, CUNA and the Defense Credit Union Council wrote to a House Oversight and Reform subcommittee for a hearing on protecting servicemembers and veterans from fraud.
CUNA supports legislation that would repeal Section 1071 of the Dodd-Frank Act and require the CFPB to explicitly justify decisions that ignore the interests of small businesses during the rulemaking process.
Credit Union Magazine’s Fall 2022 issue highlights credit unions’ role in cryptocurrency, the state of digital assets, cannabis banking compliance, the human side of technology implementation, and involving the board in financial discussions.