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.
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.
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.
CUNA supports the CFPB innovation mission and the use of “Tech Sprints,” but credit unions must have a seat at the table, CUNA wrote Friday. Tech Sprints gather experts to work together to develop innovative solutions to clearly-identified challenges.
CUNA strongly supports the Federal Reserve board’s decision to develop interbank settlement of faster payments, as the Fed proposed potential actions to create an interbank 24x7x365 real-time gross settlement service called FedNow.
A U.S. District Court jury has awarded USAA $200 million in a patent infringement lawsuit against Wells Fargo yesterday involving remote deposit capture, after USAA alleged the bank infringed on certain USAA RDC patents.
CUNA announced CUNA Compliance Management System™ Thursday, designed to transform credit union compliance. CUNA will be testing the solution delivery with a limited number of credit unions through 2019, with national availability coming in 2020.
CUNA and National Credit Union Foundation staff presented at NCUA's summit on diversity. NCUA Chairman Rodney Hood said NCUA plans to make the summit an annual event and will look to follow up with concrete, industry-wide action.
AARP released a study on the impact of training to prevent financial exploitation. AARP collaborated with CUNA to launch the BankSafe program to empower financial institution employees with the ability to identify signs of exploitation of older Americans.
One hundred and fifteen million Americans have chosen to become member-owners of a not-for-profit credit union because credit unions put members ahead of profit, CUNA Chief Advocacy Officer Ryan Donovan wrote to Congressional offices Tuesday.
Three low-income credit unions designated as minority depository institutions will build mentoring programs with three larger institutions with the help of grants announced by NCUA, awarded the grants under NCUA's pilot MDI mentoring program,
CUNA will be engaged with two Senate hearings this week, while the House is for a district work period. CUNA encourages leagues and credit unions to make contact with their elected officials to discuss credit union priorities in their home districts this week.
The CFPB and other agencies have announced thresholds for certain regulations for 2020. This includes for higher-priced mortgage loans made during calendar year 2020 and Regulations Z and M for consumer credit and lease transactions.