The Consumer Financial Protection Bureau issued a proposed rule on credit card late fees Wednesday morning. CUNA has major concerns with the proposal and wrote to the CFPB last week urging it to conduct a Small Business Review Panel as required by statute.

Peter Diamandis, founder and executive chairman of XPRIZE Foundation and executive chairman of Singularity University, will speak Feb. 27, at the 2023 CUNA GAC. He will demonstrate the disruptive power of exponential technologies and how to identify opportunities to innovate. 

Federal credit union operating fees will decrease by an average of approximately 1.8% in 2023, NCUA said in a Letter to Federal Credit Unions. Credit unions that owe an operating fee must submit it no later than April 18. 

The House passed the CUNA-League-led Credit Union Board Modernization Act Monday night. CUNA wrote to House leadership Monday prior to the vote calling stating urging members of the House to vote in favor of the bill.

CUNA joined other organizations calling for House members to vote in support of the Credit Union Board Modernization Act Monday. The bill would allow federal credit union boards to meet at minimum six times per year instead of the current once per month.

The NCUA has released updates to its frequently asked questions on the current expected credit losses (CECL) accounting standard and its Simplified CECL Tool. The CECL GAAP FAQs address common credit union topics.

The NCUA Board maintained the 18% federal credit union loan interest rate cap Thursday. CUNA requested the board consider using a floating rate ceiling, and the board agreed to begin exploring issues related to a floating cap and revisit the discussion in April.

Reps. Juan Vargas, D-Calif., and Bill Huizenga, R-Mich., introduced the CUNA-League-led Credit Union Board Modernization Act Thursday. The bill would update the Federal Credit Union Act by modifying the requirement that credit union boards meet once a month to not less than six times per year.

The CFPB's rulemaking on personal financial data rights has the capacity to fundamentally transform financial services, CUNA submitted Wednesday to the CFPB’s Small Business Advisory Review Panel for its rulemaking on personal financial data rights.