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Comments on CFPB remittance rule changes due Jan. 21

CUNA is encouraging credit unions to submit their comments on the CFPB proposal to raise the safe harbor thresholds for its remittance rule by the Jan. 21 deadline. Stakeholders can use CUNA’s Grassroots Action Center to submit comments.

NCUA to consider subordinated debt proposal at Jan. 23 meeting

The NCUA board will consider proposals on subordinated debt and credit union combination transactions, among other items, at its Jan. 23 meeting. This is the board’s first meeting of 2020, and it will be livestreamed on NCUA.gov starting at 10 a.m. (ET).

CUNA, MWCUA support Colorado CU purchase of bank

Credit union purchases of banks offer substantial benefits to all parties involved, CUNA and the MWCUA wrote this week to the Colorado Banking Board in support of Elevations CU plan to purchase and assume Cache Bank & Trust.

Policy & Issues

CUNA, FASB offer CECL informational webinars Dec. 19

Credit unions looking to learn more about the implementation of the CECL standard can join two webinars Dec. 19, one from CUNA with Financial Accounting Standards Board staff, and one directly from FASB, the entity that issued CECL.

Policy & Issues

Credit risk review guidance helpful, should not be mandated

While proposed interagency guidance on credit risk review systems generally reflects sound practices, CUNA noted in a comment letter to NCUA Monday that it is not appropriate to require credit unions to adhere to the guidance as if it was a mandate.

Policy & Issues

CUs could use add’l clarity on credit loss measurement under CECL

A proposed interagency policy statement on allowances for credit losses appears reasonable and appears to comport with the CECL standard, CUNA wrote to NCUA Monday, also reiterating its call to NCUA to continue its outreach to credit unions on CECL.

Policy & Issues

CUs look forward to new year of member service, Donovan tells Congress

Credit unions around the country are looking ahead to the new year and how to continue investing in their communities’ success, CUNA Chief Advocacy Officer Ryan Donovan wrote to all 535 Congressional offices Tuesday.

Policy & Issues

To preserve consumer protection, CFPB must be led by commission

The creation of a multi-member leadership commission at the Consumer Financial Protection Bureau would remedy the constitutional defect currently present at the agency, CUNA argued in a brief filed with the U.S. Supreme Court Monday.

Policy & Issues

CUNA’s Schenk, CUs talk Christmas Club accounts w/ Bankrate

CUNA Chief Economist Mike Schenk is one of several credit union representatives featured Wednesday in a Bankrate article about Christmas Club accounts, an example of how credit unions stay focused on overall financial health of members.

Policy & Issues

CUNA’s Nussle, Donovan again named ‘top lobbyists’ by The Hill

CUNA President/CEO Jim Nussle and Chief Advocacy Officer Ryan Donovan were named “Top Lobbyists” in 2019 by The Hill as "the people who wielded their clout and knowledge most effectively on behalf of their clients.”

Policy & Issues

Compliance: GAO report makes BSA/AML recommendations to NCUA

A new report from the GAO addresses BSA and Money Transmitter Accounts. It also includes a recommendation to NCUA on improving examiners’ ability to evaluate Bank Secrecy Act/Anti-money Laundering (BSA/AML) controls.

Policy & Issues

Congress working on appropriations bills as funding expires Dec. 20

Federal government funding is scheduled to expire Dec. 20, and reports indicate Congress has reached tentative agreement to prevent funding from lapsing. Should no agreement be reached by Dec. 20, the federal government would shut down.

Policy & Issues

CEO Update covers CUNA efforts to diversify Board of Directors

CUNA’s efforts to attract diverse candidates to serve on its Board of Directors was recently covered in CEO Update discussing the Board Recruitment Committee’s efforts to find and encourage candidates to run for a seat on CUNA’s board.

Winter 2019

Alternative lending, compliance management systems, and ideas for boosting credit card portfolios are among the topics of Credit Union Magazine’s Winter 2019 edition.

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Policy & Issues
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Comments on CFPB remittance rule changes due Jan. 21

NCUA to consider subordinated debt proposal at Jan. 23 meeting

CUNA, MWCUA support Colorado CU purchase of bank

CUNA, FASB offer CECL informational webinars Dec. 19

Credit risk review guidance helpful, should not be mandated

CUs could use add’l clarity on credit loss measurement under CECL

CUs look forward to new year of member service, Donovan tells Congress

To preserve consumer protection, CFPB must be led by commission

CUNA’s Schenk, CUs talk Christmas Club accounts w/ Bankrate

CUNA’s Nussle, Donovan again named ‘top lobbyists’ by The Hill

Compliance: GAO report makes BSA/AML recommendations to NCUA

Congress working on appropriations bills as funding expires Dec. 20

CEO Update covers CUNA efforts to diversify Board of Directors

Winter 2019

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