As policymakers seek to patch several cybersecurity policy holes, CUNA anticipates that legislation will be put forth that would extend to NCUA the authority to oversee CUSOs and other third party vendors, and expand credit unions’ ability to invest in CUSOs.
The CFPB should eliminate data points required by its 2015 HMDA rule but not required by Dodd-Frank, as CUNA believes any benefits obtained from the data points added by the 2015 rule will not outweigh the cost and burden to credit unions.
CUNA and the World Council of Credit Unions Wednesday called on House and Senate appropriators to increase funding for the USAID's Cooperative Development Program (CDP) to $17 million for FY2020, up from the previous year’s $12 million.
FASB agreed to delay the CECL standard until January 2023 Wednesday. CUNA supports the delay, but continues to have concerns about CECL, both its effects on credit unions' financial standing and the compliance challenges.
Your Money Further will conduct a Twitter chat Thursday in recognition of International Credit Union Day. The Twitter account @moneyfurther will be inviting users to use the hashtag #MyCUWhy to foster engagement.
The CFPB's execution of its regulatory agenda should ensure credit unions are able to provide efficient, safe and affordable products and services, CUNA wrote in advance of director Kathy Kraninger's House Financial Services Committee testimony.
Consumer Financial Protection Bureau Director Kathy Kraninger will testify before both the House Financial Services Committee and Senate Banking Committee this week as part of her semi-annual report to Congress.
Several months of credit union advocacy has brought positive changes in the fiscal year 2020 NDAA. As Congress returns from its recess, CUNA hopes to keep that momentum going, activating credit union members to keep a provision out of the final bill.
The CFPB issued a final rule Thursday extending the 500 open-ended line of credit HMDA reporting threshold for an additional two years, to Jan. 1, 2022. CUNA is supportive of the 500 line-of-credit threshold but has called for the CFPB to make it permanent.