CUNA Senior Economist Dawit Kebede responded to the Federal Reserve Open Market Committee's increase of the federal funds rate by 75 basis points. The FOMC also announces that it anticipates more increases in future meetings to bring inflation down to its 2 percent goal.  

The House Financial Services Committee advanced the CUNA and League-led Credit Union Board Modernization Act (H.R. 6889) Wednesday. The bill would allow boards of federally charted credit unions the flexibility to meet at minimum six times a year rather than the required 12 times a year.

CUNA wrote in support of a bill to modernize federal credit union board meeting requirements prior to its markup by the House Financial Services Committee. H.R. 6889 would allow boards of federal credit unions the flexibility to meet at minimum six times a year.

The House should pass remote online notarization and Community Development Financial Institutions (CDFI) improvement legislation, CUNA wrote to House leaders Monday. The House is expected to vote on both pieces of legislation this week.

The House and Senate are in Washington D.C., this week. The House will consider CUNA and League-supported remote online notary legislation. The bill passed the House Energy and Commerce Committee last week with a unanimous vote.

The NCUA board approved its final asset threshold supervision rule and issued a proposal on cyber incident reporting at its meeting Thursday. The board also heard a briefing on the 2022 mid-session budget.

The House Energy and Commerce Committee passed the CUNA-supported Securing and Enabling Commerce Using Remote and Electronic (SECURE) Notarization Act of 2021 (H.R. 3962) Wednesday. CUNA wrote in support of H.R. 3962 prior to the markup.

Young credit union professionals from across the globe finally got the in-person recognition they deserved for WYCUP scholarships awarded in 2020 and 2021 during the final general session of the 2022 World Credit Union Conference.

The House passed its “minibus” appropriations bill Wednesday that includes the several credit union priorities, including $336 million for the CDFI Fund and $4 million for the NCUA's Community Development Revolving Loan Fund.

Credit union champions defended their seats against primary challengers in congressional races throughout Maryland Tuesday. The Credit Union Legislative Action Council and state leagues have backed 222 credit union champions this cycle with a 98% success rate.