NCUA posted its proposed 2018-2019 budget Friday, and will accept comments and requests to present at the Oct. 18 budget briefing. CUNA is currently analyzing the materials, which include a proposed operating budget of $298.2 million for 2018.
CUNA filed its lawsuit Wednesday against Equifax, a suit brought in the wake of a data breach resulting in hackers accessing information on 145.5 million consumers and payment card data of more than 200,000 consumers.
CUNA filed a petition Friday with the Federal Communications Commission regarding the Telephone Consumer Protection Act, outlining how it can provide credit unions with regulatory relief from the onerous requirements for communicating with member-owners. In the petition, CUNA proposes two routes for providing credit unions with greater ability to communicate with consumers about information they want and need on their cell phone.
In addition to issuing 2 proposals, the NCUA board finalized 3 rules Friday, and heard an update on the agency’s Enterprise Solutions Modernization program. The final rules involve safe harbor, inflation of penalties and FOIA.
The NCUA filed a response to the lawsuit against its final field-of-membership rule brought by the American Bankers Association. CUNA is tracking the lawsuit, and plans to support the NCUA in its defense of the rule.
The NCUA board voted Thursday to finalize its field-of-membership rule, a rule CUNA President/CEO Jim Nussle praised for providing much needed regulatory relief. NCUA also issued for a proposed rule with additional changes CUNA has advocated for.
Presumptive Democratic presidential nominee Hillary Clinton selected Sen. Tim Kaine (D-Va.) as her running mate Friday. Kaine is a familiar face to credit unions in Virginia, and was supported by the Virginia Credit Union League in his 2012 campaign.
Indiana Gov. Mike Pence, Republican vice presidential candidate, is a familiar face to credit unions in his state, and has enjoyed a positive relationship with credit unions dating back to his earlier days as a legislator.