CUNA joined several financial trade organizations Thursday to call on House leadership to pass the SAFE Banking Ac, a bill to provide legal protections to financial institutions serving legal cannabis-based businesses.
The House passed a continuing resolution Thursday to fund the federal government through Nov. 21 by a 301-123 vote. Funding would have lapsed Oct. 1 without the resolution or a long-term spending bill.
The NCUA board passed its final Payday Alternative Loan (PAL) II rule Thursday, as well as final rules on bylaws and supervisory committee audits and an update on the National Credit Union Share Insurance Fund.
The CFPB should retain its QM safe harbor and product features but remove the debt-to-income requirement for prime and near-prime loans when GSE "patch" expires, CUNA and other trade organizations wrote to the CFPB Monday.
Two CUNA-supported bills will be considered on the House floor: the Homebuyer Assistance Act of 2019 and the Ensuring Diverse Leadership Act of 2019. The Senate Banking Committee will also conduct a housing finance reform hearing.
The Credit Union Legislative Action Council, CUNA’s political action committee, and the Carolinas Credit Union League are supporting Dr. Greg Murphy (R) in tomorrow’s special election in North Carolina’s 3rd Congressional District.
The CFPB will hold a symposium on behavioral law and economics Sept. 19 at 9 a.m. (ET) titled “Behavioral Economics and Consumer Financial Services Policy.” The event will be webcast on the CFPB’s website.
NCUA finalized changes to its fidelity bonds rule in July, and the changes go into effect Oct. 22. The Federal Credit Union Act requires that certain credit union employees and elected officials have fidelity bond coverage.
The U.S. Treasury released a series of series of recommended legislative and administrative housing finance reforms. CUNA supports housing finance reform principles that ensure community lenders are at the core of the secondary mortgage market.
The differences between House and Senate versions of the NDAA for FY20 will be sorted out in conference committee. CUNA will continue its advocacy to keep a provision contained in the Senate NDAA out of the final bill.
As Congress returns after the August recess, one of CUNA’s top legislative priorities is advancing the SAFE Banking Act (H.R. 1595/S. 1200), a bill that would provide protections to financial institutions serving legal cannabis-based businesses.
CUNA joined dozens of fellow National Cooperative Business Association CLUSA members Wednesday to request a hearing on the Small Business Administration’s recent report on cooperative lending, and expressed several concerns with the report.
NCUA will take a phased approach to implementing its field of membership regulation in the wake of the D.C. Court of Appeals’ decision last month to largely uphold the rule. CUNA strongly supports the rule.