CUNA and other organizations wrote in strong opposition to attaching the Marshall-Durbin interchange bill to the FY23 National Defense Authorization Act in a letter to Congressional leaders. The bill has been filed as an amendment to the Senate NDAA.
CUNA announced Tuesday it will spend more than $2.5 million on advertisements in support of eight credit union champions for the U.S. Senate and House of Representatives, bringing its total spend for the 2022 midterm elections to $6.5 million.
The Federal Reserve issued its final rule amending Reg II’s debit card routing requirements, a rule CUNA, Leagues, and credit unions strongly opposed. It would require debit card issuers to offer two unaffiliated networks which must also be capable of processing transactions under a new framework.
A joint agency proposed policy statement on commercial real estate (CRE) loan accommodations and workouts is a thorough and well-supported update to existing guidance, CUNA wrote to NCUA Monday. NCUA—and other federal financial regulators—proposed the update, as the last one was made in 2009.
Minority Depository Institution (MDI) credit unions experienced growth in membership, assets, and loans in 2021 as they continued to provide safe, fair, and affordable financial services to their members and communities, according to NCUA's report to Congress on MDI credit unions.
NCUA’s staff draft budget for 2023–2024 is now available on the agency’s website for review and comment. The staff draft budget has also been submitted for publication in the Federal Register, and the comment period is open until Oct. 28.
The House passed the CUNA-League-led Credit Union Board Governance Modernization Act (H.R. 6889) Thursday, which would allow boards of federal credit unions the flexibility to meet at minimum six times a year rather than the required 12 times a year.
The Senate advanced its continuing resolution Thursday to keep the government funded past the current Sept. 30 funding expiration date. The bill would fund the federal government—and the National Flood Insurance Program—through Dec. 16.
A ransomware attack could inflict serious financial damage and pose reputation risk. NCUA is teaming up with the FBI, Treasury Department, and the Wisconsin Department of Financial Institutions to discuss how to protect credit unions and members.
Credit Union Magazine’s Fall 2022 issue highlights credit unions’ role in cryptocurrency, the state of digital assets, cannabis banking compliance, the human side of technology implementation, and involving the board in financial discussions.