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CUs, leagues from N.J., Dakotas Hike the Hill in Washington, D.C.

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.

Policy & Issues

CUNA provides faster payments recommendations to Fed

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.

Policy & Issues

CUNA, NAFCU, CUNA Mutual file brief supporting NCUA’s FOM appeal

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.

Policy & Issues

BCFP follows CUNA recommendation w/ ‘no-action’ letter proposal

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.

Policy & Issues

CUNA calls for not-for-profit excise tax parity from Treasury

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.

Policy & Issues

CUNA engaged w/ CECL hearing, H.R. 88 consideration this week

CUNA will be engaged with several hearings in both chambers of Congress this week, including one on the impact of the CECL standard. The House and Senate are both in session this week.

Policy & Issues

CUNA pushes for CUSO relief, opposes NCUA vendor authority

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.

Policy & Issues

Compliance: FinCEN, banking agencies encourage AML innovation

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.

Policy & Issues

CUNA thanks Mulvaney for BCFP tenure, calls for commission

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.

Policy & Issues

NCUA files brief in FOM appeal, CUNA to file by Dec. 13

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.

Policy & Issues

Nussle op-ed: ‘New era’ at BCFP brings opportunities for CUs

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.

Policy & Issues

Trump signs bill funding govt, NFIP through Dec. 21

President Donald Trump signed a bill crafted by Congressional negotiators Thursday that will extend funding of the federal government, and the National Flood Insurance Program, to Dec. 21.

Policy & Issues

CUNA outlines CU priorities to new BCFP Director Kraninger

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.