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.
CUNA seeks clarity on the California Consumer Privacy Act rules so credit unions can properly comply. The law’s definition of “business” needs further clarification, as the definition in the bill does not address not-for-profit status.
The FHA plays a critical role in homeownership, yet impediments exist keeping credit unions from accessing the FHA lending program. CUNA made suggestions that could create a regulatory environment that boosts credit unions’ confidence in the program.
The NCUA board will consider a final risk-based capital rule, the agency’s 2020-21 budget and will receive a briefing on the 2020 share insurance fund Normal Operating Level (NOL) at its Dec. 12 meeting.
Credit unions and the financial services industry at large are dedicated to protecting customer information along with working to ensure that systems used to provide financial services to Americans are robust, secure and resilient.
CUNA identified both where it has seen positive steps by NCUA as well as issues where improvements can be made in a letter for the record of NCUA Chairman Rodney Hood’s testimony before the Senate Banking Committee Thursday.
Concerns over potential negative community effects from credit unions purchasing banks are misinformed and inaccurate, CUNA President/CEO Jim Nussle wrote to Federal Deposit Insurance Corporation Chair Jelena McWilliams Thursday.
The House voted Wednesday to pass the Telephone Robocall Abuse Criminal Enforcement and Deterrence (TRACED) Act, legislation designed to combat unwanted robocalls via the Telephone Consumer Protection Act.
Credit unions are deeply concerned that Americans’ financial wellness is compromised by inconsistent privacy and security standards applied to businesses that possess, process or transport consumers’ nonpublic personal information.
Nikki R. Haley, U.S. Ambassador to the United Nations from 2017-2019, will be the Tuesday keynote speaker at the 2020 CUNA GAC, February 23-27 in Washington, D.C. This annual conference is the credit union system’s premier advocacy event.
Recent NCUA actions have been positive for credit unions, but there are areas the agency can improve, CUNA wrote Tuesday, adding that NCUA should continue coordination with other federal regulators, including but not limited to the CFPB and FCC.