President Joe Biden’s draft FY24 budget proposal contains $341 million for the Treasury’s Community Development Financial Institutions (CDFI) Fund, an increase of $17 million from the 2023 enacted level. CUNA has called for $500 million in funding.
CUNA wrote House Ways and Means Committee leadership with several recommendations for the Treasury’s Community Development Financial Institutions Fund for its hearing Thursday on the administration’s FY24 budget proposal.
NCUA announced a $109.6 million distribution to more than 100 membership and paid in capital shareholders of the former Constitution and U.S. Central corporate credit unions and $68.6 million in dividends to more than 2,500 Members United and Southwest Corporate shareholders.
CUNA continues to be concerned with the CFPB's overly broad use of the term “junk fees,” as it will result in less consumer access to credit and ignores many standard fees that consumers opt into.
The Consumer Financial Protection Bureau (CFPB) has missed many opportunities to leverage credit unions’ mission and history to the benefit of consumers, CUNA wrote to the House Financial Services Subcommittee hearing on potential CFPB reforms.
CUNA supports a bill introduced Wednesday that would bring the Consumer Financial Protection Bureau into the appropriations process turn it into an independent agency called the Consumer Financial Empowerment Agency.
Credit unions support appropriate oversight and regulation of the digital assets marketplace and must have the authority to participate, CUNA wrote to the House Financial Services Subcommittee on Digital Assets, Financial Technology, and Inclusion this week.
CUNA wrote a Senate Foreign Relations subcommittee in strong support of FY24 funding levels of $50 million for the Cooperative Development Program; $30 million for the Credit for Agriculture Producers' Technical Assistance Project; and $50 million to support efforts of the countries surrounding Ukraine.
Rep. Jennifer McClellan, D-Va., was sworn in Tuesday as the newest member of the 118th Congress. McClellan is the first Black woman elected to represent Virginia, and a strong credit union supporter.
CUNA leaders sat down with CUBroadcast over the course of the 2023 CUNA Governmental Affairs Conference last week to talk everything from the event's record turnout to credit unions' future role in cryptocurrency.
Credit Union Magazine’s Spring 2023 issue features the 2023 Credit Union Heroes and examines CUNA-League advocacy priorities, board leadership, the impact of financial well-being efforts, fee-related compliance issues, predictions for the year ahead, and more.