Credit unions and leagues from New Jersey and the Dakotas were in Washington, D.C. this week as part of continuing CUNA/league advocacy efforts into the new Congress to discuss several issues of interest to credit unions and their members.
CUNA supports the Federal Reserve developing a real-time payments network, it wrote to the Fed’s board of governors Friday. CUNA sent its comment letter in response to a Fed call for comments on its faster payments proposal.
CUNA joined the National Association for Federally Insured Credit Unions and CUNA Mutual Group Thursday to file a brief in support of NCUA and its FOM rule, which was challenged by the American Bankers Association.
The Bureau of Consumer Financial Protection will issue a proposal to revise its current “No-Action” letter policy following CUNA efforts to have the bureau amend to provide clarity regarding enforcement and supervision expectations.
CUNA wrote to the Treasury Monday to call for parity for executive compensation at not-for-profit employers by grandfathering not-for-profit employer contracts in effect on or before Nov. 2, 2017, fixing a disparity in the TCJA.
CUNA asked NCUA to continue to review its rules governing CUSOs to achieve greater regulatory relief, and reiterated its stance that NCUA should not have examination and enforcement authority over third-party vendors, including CUSOs.
The FinCEN and its regulatory partners issued a joint statement last week to encourage credit unions and other financial institutions to take innovative approached to combat money laundering and other illicit financial threats.
CUNA wrote to BCFP Acting Director Mick Mulvaney Thursday to thank him for his service during the 13 months he served as acting director for the agency. Kathy Kraninger was confirmed by the Senate to become bureau director Thursday.
NCUA filed its opening brief in its appeal against a ruling regarding its field-of-membership rule, arguing its changes to FOM regulations are within its statutory authority. CUNA will file an amicus brief in support of NCUA by Dec. 13.
CUNA President/CEO Jim Nussle addressed a “new era” at the Bureau of Consumer Financial Protection in a Credit Union Times op-ed Thursday with the confirmation of Director Kathy Kraninger. Kraninger was confirmed by Senate vote Thursday afternoon.
CUNA wrote to newly confirmed Bureau of Consumer Financial Protection Director Kathy Kraninger Thursday to highlight key consumer protection priorities for credit unions. CUNA also extended an offer to provide any necessary feedback, data and expertise.