Credit unions are leading the call for data security legislation because they are “painfully aware” of how lax security can harm individuals’ financial security, CUNA Senior Director of Advocacy Lance Noggle wrote in Credit Union Times Friday.
CUNA and the National Credit Union Foundation have created a two-part complimentary webinar series to provide stakeholders with some of the most pressing trends, best practices, resources and preventative steps to combat and mitigate cybersecurity threats at credit unions.
The NCUA board will release a proposal on risk-based capital at its June 20 meeting. CUNA supported changes finalized by NCUA last year, but continues to believe the rule is an area in which NCUA could improve its regulations.
The House Financial Services Committee passed four CUNA-supported bills at the conclusion of a two-day markup, bills covering the Bank Secrecy Act, the National Flood Insurance Program and financial literacy programs.
The two newest members of the NCUA board visited CUNA offices this week, with Chairman Rodney Hood met with CUNA President/CEO Jim Nussle at CUNA’s Washington, D.C. and board member Todd Harper visiting Madison, Wis.
CUNA wrote in support of the Comprehensive Regulatory Review Act Wednesday, which requires financial regulators to review regulations once every seven years, but that legislation should not alter NCUA's current annual review of one-third of its regulations.
The Senate Commerce Committee should press the Federal Communications Commission on what actions and rulemakings, if any, the agency will undertake to ensure legally permissible calls aren’t impacted by last week’s call-blocking ruling.
Although the Gramm-Leach-Bliley Act has served the financial services industry well, Congress must work with the administration to finally address consumer data privacy in a meaningful way, CUNA wrote to Senate Banking Committee leadership Wednesday.
The House Armed Services Committee passed the NDAA for FY2020 and CUNA, Leagues and the Defense Credit Union Council were successful in working to ensure language giving banks rent-free access to military bases was kept out of the bill.
CUNA wrote in support of four regulatory relief bills being marked up by the House Financial Services Committee this week. The bills cover Bank Secrecy Act, flood insurance and financial literacy. The markup is expected to continue at least into Wednesday.
CUNA supported a bill with $300 million for the Treasury’s CDF) Fund and $2 million in funding for NCUA’s Community Development Revolving Loan Fund. The bill was passed by the House Appropriations Committee Tuesday.
Providing NCUA with the flexibility to increase federal credit union loan maturities would provide more opportunities to consumers, including when it comes to affordable education, and CUNA wrote in support of a bill to give NCUA that flexibility.
CUNA urged members of the House Armed Services Committee to reject language in the NDAA for fiscal year 2020 that would allow banks rent-free access to military bases. The committee started marking up the NDAA Tuesday.