Minority Depository Institution (MDI) credit unions experienced growth in membership, assets, and loans in 2021 as they continued to provide safe, fair, and affordable financial services to their members and communities, according to NCUA's report to Congress on MDI credit unions.
NCUA’s staff draft budget for 2023–2024 is now available on the agency’s website for review and comment. The staff draft budget has also been submitted for publication in the Federal Register, and the comment period is open until Oct. 28.
The House passed the CUNA-League-led Credit Union Board Governance Modernization Act (H.R. 6889) Thursday, which would allow boards of federal credit unions the flexibility to meet at minimum six times a year rather than the required 12 times a year.
The Senate advanced its continuing resolution Thursday to keep the government funded past the current Sept. 30 funding expiration date. The bill would fund the federal government—and the National Flood Insurance Program—through Dec. 16.
A ransomware attack could inflict serious financial damage and pose reputation risk. NCUA is teaming up with the FBI, Treasury Department, and the Wisconsin Department of Financial Institutions to discuss how to protect credit unions and members.
CUNA Chief Political Officer Richard Gose appeared on CUBroadcast this week to provide an update on CUNA, League, and credit union opposition to House and Senate interchange bills. The Credit Card Competition Act would allow merchants to route payments through an unaffiliated network.
Five Leagues representing 11 states were in Washington, D.C. last week to talk credit union priorities with policymakers. Visits included meetings with legislators and regulators, as well as briefings from CUNA staff.
CUNA wrote House leadership Tuesday in strong support of the CUNA-League led Credit Union Board Modernization Act (H.R. 6889), scheduled for floor consideration this week. The bill would allow credit union boards the flexibility to meet at minimum six times a year rather than the required 12 times a year.
CUNA highlighted strong opposition to the interchange bill from Reps. Lance Gooden, R-Texas, and Peter Welch, D-Vt in a letter warning the bill would reduce access to credit, increase security risks associated with credit card use, and limit credit card rewards programs.
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.