Credit unions and leagues from New Jersey and the Dakotas were in Washington, D.C. this week as part of continuing CUNA/league advocacy efforts into the new Congress to discuss several issues of interest to credit unions and their members.
CUNA supports the Federal Reserve developing a real-time payments network, it wrote to the Fed’s board of governors Friday. CUNA sent its comment letter in response to a Fed call for comments on its faster payments proposal.
CUNA joined the National Association for Federally Insured Credit Unions and CUNA Mutual Group Thursday to file a brief in support of NCUA and its FOM rule, which was challenged by the American Bankers Association.
FASB has officially issued an update to its CECL standard, delaying implementation for credit unions for fiscal years beginning after December 2021. CUNA strongly pushed for the delay for help credit unions come into compliance.
Senate Majority Leader Mitch McConnell (R-Ky.) filed cloture Thursday on several nominations, including Kathy Kraninger to lead the Bureau of Consumer Financial Protection, setting up a Senate vote on confirmation for the week after Thanksgiving.
CUNA, after being approached to support HUD FCU’s leadership training program, will supply the credit union with two scholarships in 2019. CUNA was on hand at HUD FCU Thursday to see the credit union receive a $10,000 grant from NCUA.
CUNA applauds the Federal Housing Finance Agency efforts to address investor concerns surrounding the Uniform Mortgage-Backed Security before the security is launched in the to-be-announced market on June 9, 2019.
CUNA welcomes the Federal Housing Finance Agency’s efforts to adopt strong capital requirements, but has concerns about the lack of analysis of the impact on the cost of conventional mortgage credit in the primary market.
The NCUA board approved the agency’s 2019 and 2020 operating budget at its Thursday meeting, in addition to issuing a proposed rule on fidelity bonds. CUNA presented at the agency’s budget briefing and submitted written comments on the budget.
More than half (52%) of credit union CEOs are female, according to CUNA research, compared with only 5% of commercial bank and 6% of Fortune 500 CEOs, according to CUNA research into CEO gender at financial institutions.
House Republicans conducted leadership elections Wednesday, and. Rep. Kevin McCarthy (R-Calif.) was named House Minority Leader. House Democrats are expected to conduct their leadership elections in late November.
Registration is still open for Wednesday’s free webinar on CUNA’s Awareness Initiative, which will delve deeper into the “Open Your Eyes” campaign, with a look at the brand platform and a portfolio of consumer-facing materials.
Both chambers of Congress have returned to Washington, D.C. this week to start the final weeks of the 116th Congress. CUNA plans to pursue several advocacy priorities, as well as outreach to newly elected members of Congress.