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 Financial Accounting Standards Board officially finalized the delay for implementation of the CECL standard to January 2023 Friday. The board agreed to the delay in October and Friday’s action makes it official.
Google staff visited CUNA’s Washington, D.C. office earlier this week to discuss its plans to partner with credit unions and banks to offer checking accounts through Google Pay, providing details along with a timeline.
The NCUA board will discuss a proposal on real estate appraisals, a final interpretive rule and policy statement on Chairman Rodney Hood’s “second chance” proposal at its Nov. 21 meeting, scheduled to begin at 10 a.m. (ET).
A bill exempting loans to veteran-owned businesses from the member business lending cap has CUNA’s full support, CUNA President/CEO Jim Nussle wrote to bill sponsors Sens. Dan Sullivan (R-Alaska) and Mazie Hirono (D-Hawaii) Tuesday.
CUNA commented on four bills set to be marked up starting Wednesday by the House Financial Services Committee, supporting one and expressing concerns over three related to the Fair Debt Collection Practices Act..
CUNA marked Veterans Day this week with a communication from Chief Advocacy Officer Ryan Donovan sent to all 535 congressional offices highlighting the credit union commitment to serving military veterans and their families.
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.