The NCUA board will be briefed on the expiration of COVID-19 related legislation and propose a rule on succession planning at its Jan. 27 meeting. The meeting is scheduled to begin at 10 a.m. ET and will be streamed live on NCUA.gov.
Credit unions are eager to be a rural community lending partner, but archaic charter and field of membership restrictions prevent most from helping those communities. Rural credit unions serve 9.7 million members – over one-fifth of the nation’s rural population.
Federal credit union operating fees will decrease by an average of 23.7% in 2022, according to a Letter to Federal Credit Unions from NCUA adjusting the operating fee schedule for 2022. Credit unions owing an operating fee must send it by April 15.
Rep. John Katko (R-N.Y.) announced this week he will not seek re-election to Congress in 2022. First elected in 2014, he has been a strong credit union champion throughout his time in Congress and is the current ranking member of the House Homeland Security Committee.
CUNA joined the Chamber of Commerce and multiple bank trade associations in filing an amicus brief this week in a Fair Debt Collection Practices Act case that could expand the potential actions that would violate the FDCPA.
NCUA’s latest Letter to Credit Unions provides credit unions with an update on the agency’s examination programs, including the Modern Examination and Risk Identification Tool (MERIT) and associated systems, as well as the updated CAMELS rating system.
NCUA issued a Letter to Credit Unions outlining its supervisory priorities for 2022 which include Credit risk management, cybersecurity, payment services, BSA and AML/CFT compliance, risk-based capital implementation, and consumer financial protection.
The House and Senate are in session this week to consider various legislation. Committee hearings will cover cryptocurrency blockchains and their energy impacts, as well as the state of rural economies with Secretary of Agriculture Tom Vilsack.
CUNA Senior Economist Dawit Kebede shared his thoughts on projected increases in credit card interest rates for an article in Bankrate article on the topic. These interest rates began to climb in 2021, a trend that will likely continue into 2022.
CUNA wrote to the CFPB Thursday with suggestions for additional data development and analysis in order to promote shared understanding of overdraft services, including conducting a study of consumer preferences regarding overdraft.