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.
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).
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.
The NCUA board approved a two-year delay on its risk-based capital rule at its Thursday meeting, in addition to approving the agency’s 2020-21 budget. NCUA staff also indicated the NOL will remain at 1.38% for 2020.
The U.S. Court of Appeals for the D.C. Circuit denied the American Bankers Association’s appeal for a rehearing en banc in its lawsuit against NCUA’s field of membership rule. CUNA filed a brief in support of NCUA in the initial hearing, and strongly supports NCUA’s field-of-membership rule.
The Secure and Fair Enforcement (SAFE) Banking Act is a critical first step to ensure legal cannabis marketplaces are safe, legal and transparent, CUNA and other financial services trade organizations wrote to Senate Banking Committee leadership Thursday.
With a focus on collaboration, credit union leagues gathered in Florida for the AACUL winter conference, where they heard from a notable lineup of speakers including CFPB Director Kathy Kraninger and NCUA board member Todd Harper.
CUNA supported two bills supporting Minority Depository Institutions Wednesday, both part of a group of bills being marked up this week by the House Financial Services Committee. Both bills passed with unanimous bipartisan votes Tuesday afternoon.
CUNA and FS-ISAC will conduct a free webinar for CUNA members Dec. 17 designed to provide information on how credit unions can protect themselves from Business Email Compromise scams. The webinar is scheduled for 3 to 4 p.m. (ET).
This holiday season, the average consumer will spend more than $1,000 on gifts and related expenses and credit unions are there to ensure consumers maintain their financial health, CUNA's Ryan Donovan wrote to all 535 Congressional offices Tuesday.
CUNA fully supports NCUA’s latest FOM proposal, as it would re-adopt a provision to allow an applicant to designate a CSA, or an individual, contiguous portion thereof, as a WDLC, provided that the chosen area has a population of 2.5 million or less.
Five federal financial regulators, including NCUA, released a joint statement on the use of alternative data in underwriting by credit unions and other financial institutions noting the benefits that using alternative data may provide to consumers.