Senate Majority Leader Chuck Schumer (D-N.Y.) welcomed attendees to the 2021 CUNA GAC Tuesday and was followed by Congressional leaders throughout the day. Schumer pledged to work with credit unions throughout the recovery to ensure the doors of opportunity remain open for all.
CUNA announced the election results for its new Board of Directors Executive Committee Members, including Brad Green, president/CEO of Listerhill Credit Union, who was named board chairman. The newly elected members will serve through the 2022 Annual General Meeting.
Credit unions embracing diversity, equity, and inclusion is good for business and advocacy, CUNA's Samira Salem wrote Tuesday, noting that with Democratic control of Congress and the White House, enhancing DEI in the financial services sector is a priority.
NCUA Chairman Todd Harper shared his priorities for pandemic recovery and thoughts on the path forward Tuesday at the 2021 CUNA GAC. Harper also said he believes NCUA should create a dedicated consumer protection compliance program.
CUNA hopes a new CFPB director will recognize the unique structure of credit unions and the benefit they provide consumers but CUNA also continues to have concerns over the single director structure, it wrote before CFPB nominee Rohit Chopra's testimony Tuesday.
Reps. Brad Sherman (D-Calif.) and Brian Fitzpatrick (R-Pa.) introduced legislation Monday that would exempt all credit union member business loans made during a declared disaster from the member business lending cap for one year.
FHFA Director Mark Calabria announced Monday he has authorized the disbursement of $1.09 billion for Fannie Mae and Freddie Mac's affordable housing allocations for 2020. This is the largest amount ever disbursed and more than double what was provided last year.
CUNA Chief Advocacy Officer Ryan Donovan wrote to all 535 Congressional offices in conjunction with this week’s CUNA GAC, saying credit union advocates will be looking to “discuss ways Congress and credit unions work in tandem to advance your community and improve your constituents' financial well-being.”