NCUA, along with other federal financial regulators, issued a request for comment on a proposed interagency policy statement promote consistency in the interpretation of the credit losses accounting standard, which introduces the CECL methodology.
The NCUA board will vote on a final public unit and non-member shares rule, and issue a notice of public rulemaking on chartering and field of membership at its Oct. 24 meeting. The board will also hear a briefing on cybersecurity.
A bipartisan commission leading the CFPB, as proposed by President Barack Obama and Sen. Elizabeth Warren (D-Mass.), is essential to preserving the CFPB’s independence, CUNA wrote to the Senate Banking Committee.
NCUA Chairman Rodney Hood outlines his credit union priorities in the latest CUNA News podcast at African-American Credit Union Coalition (AACUC) annual conference in Charlotte, NC. “Financial inclusion is the civil rights issue of our generation,” proclaimed Hood.
Registration is still open for CUNA’s free webinar on its latest MAP campaign designed to activate members to call for Congressional data security legislation. The webinar is scheduled for 11 a.m. (ET) and will last approximately one hour.
Educating more than 50 state legislators on the credit union difference is part of a strong advocacy program for the Illinois Credit Union League (ICUL). “The Illinois Credit Union League advocates tirelessly on behalf of Illinois credit union member-owners,” said ICUL President/CEO Tom Kane in the Daily Herald Business Ledger.
After receiving constant requests for money from her children, Shaketha McCregor (Dublin, GA) got creative by establishing an in-home credit union for her family. “I was like I don’t want to just give it to them,” McCregor told Good Morning America. “I want to do something different to make them work for it this time around so they will appreciate it more.”
The D.C. Circuit Court of Appeals issued an opinion today upholding almost all portions of the NCUA’s field of membership (FOM) rule. “Today’s opinion by the D.C. Court of Appeals is a resounding victory for credit unions, their members, and communities across the country,” said CUNA President/CEO Jim Nussle.
Under new interim guidance released today by the National Credit Union Administration, federally insured credit unions can provide certain financial services to legally operating hemp businesses. The move comes on the heels of a request for clarification by Senate Majority Leader Mitch McConnell.