Low-income and MDI credit unions have until June 30 to apply for Community Development Revolving Loan Fund grants. NCUA will administer approximately $3.5 million in CDRLF grants to the most-qualified applicants, subject to the availability of funds.
A June 8 NCUA webinar will discuss how Minority Depository Institution (MDI) credit unions focus on helping minority communities, which are often underserved, find affordable financial services, and promote greater financial security.
Credit unions provide a vital partnership in helping the Federal Housing Finance Agency achieve its housing mission and goals, CUNA wrote to House Financial Services Committee leaders Tuesday for its hearing on FHFA oversight.
Sen. Tom Carper, D-Del., announced Monday he will not seek re-election in 2024. He introduced the CUNA and League-supported Data Security Act in 2015 to create a strong, national data security standard for entities that handle consumer information.
The House is in Washington, D.C., this week, while the Senate is scheduled to be out for the next two weeks, but may return for debt ceiling votes. CUNA will be engaged with hearings on lending to veteran-owned small businesses and oversight of the Federal Housing Finance Agency.
CUNA Deputy Chief Advocacy Officer for Federal Government Affairs Jason Stverak noted that despite bank attacks on the credit union tax status, credit union financial benefits exceed the value of the “expenditure” by an average of 8.8 times for the last 15 years.
Two stablecoin bills considered by the House Financial Services Subcommittee on Digital Assets, Financial Technology, and Inclusion are solid starts, but CUNA suggested several revisions in a letter to the subcommittee.
The CFPB's timing study on “junk fees” has not met the public comment obligations under the Paperwork Reduction Act (PRA) and should not receive a general clearance, CUNA wrote to the White House Office of Information and Regulatory Affairs.
CUNA wrote the Senate Banking, Housing, and Urban Affairs Committee in support of the credit union position on third party vendor authority, privately insured credit unions, deposit insurance reform, and the Central Liquidity Facility.
Credit Union Magazine’s Summer 2023 issue highlights the lending outlook for the rest of the year, how credit unions leverage fintech companies to boost digital lending, the power of lending partnerships, common Bank Secrecy Act violations, and the shift board members must make when becoming chair.