What should leadership look like in challenging times? How can we foster resilience in an era of unprecedented uncertainty? H.R. McMaster will address those critical topics at CUNA Governmental Affairs Conference March 2-4.

Both chambers of Congress are in session this week, and CUNA will be engaged with several committee hearings. Congress will also continue negotiations on economic stimulus legislation due, including a potential budget resolution.

CUNA supports removing the prohibition for federal credit unions to purchase mortgage servicing rights, it wrote to NCUA Monday. NCUA’s proposal would explicitly permit a federal credit union to purchase mortgage servicing rights from other FICUs under certain circumstances.

Comments are due in February on several proposals and rulemakings of interest to credit unions, including ones issued by NCUA, the Consumer Financial Protection Bureau (CFPB), Federal Communications Commission and Federal Housing Finance Administration.

It has never been more important for credit unions to improve members’ financial well-being and advance the communities they serve, CUNA Chief Advocacy Office Ryan Donovan wrote in CUInsight Friday.

News Now, Policy and Issues

Federal policymakers unveiled an omnibus spending bill Monday that would fund the federal government through Sept. 30, 2021 and includes several CUNA-sought provisions related to pandemic relief. Congress passed the measure Monday evening.

CUNA wrote to Congressional leadership Tuesday in support of increased funding for the Cooperative Development Program, and specifically for community-based credit unions in developing countries, specifically at $20 million as in Senate Appropriations Committee legislation.

News Now, Policy and Issues

Legislation from Rep. Mike Gallagher (R-Wis.) would establish a Department of Education grant program encouraging K-12 schools to offer financial literacy programs and aligns with credit unions' mission to improve the financial well-being of members.