The CUNA HR & Organizational Development Council recently announced changes to their 2022-23 executive committee through their regular elections and appointments. The Council also appointed a League representative to the group’s executive committee.
Sens. Roger Marshall, R-Kan., and Dick Durbin, D-Ill. are meddling in banking networks that protect financial data, benefit consumers and provide fast, efficient transactions, wrote Spero Financial Credit Union President/CEO Brian McKay in The Post & Courier.
Five credit union-friendly candidates won their primary races in Delaware, New Hampshire and Rhode Island Tuesday. Credit Union Legislative Action Council (CULAC) and state leagues have backed 333 credit union proponents this cycle with a 96% success rate.
NCUA released a new tool Wednesday to help small credit unions comply with the CECL standard, which goes into effect for most credit unions Jan. 1, 2023. CUNA has called on NCUA to provide guidance to credit unions on CECL implementation.
Credit unions are heavily regulated for safety and soundness, unlike “buy now, pay later” (BNPL) products increasingly used by consumers, CUNA wrote to the Senate Banking, Housing, and Urban Affairs Committee.
CUNA Senior Economist Dawit Kebede said despite indications of a slow-down in headline inflation in the last two months, it is still much higher than the Federal Reserve's target of 2%, in response to the Labor Department’s August Consumer Index Report.
Registration is now open for NCUA's third summit focused on diversity, equity, and inclusion, set for Nov.2 to 4. The theme of this year’s summit is All-In on DEI & ACCESS. ACCESS is NCUA’s initiative for Advancing Communities through Credit, Education, Stability, and Support.
CUNA supports the FTC’s effort to develop a rule addressing bad actors in the auto dealer market but believes FTCs proposal on the matter needs further clarification, and that language in the proposal is “opaque and goes far beyond malevolent behavior.”
The House and Senate are in Washington, D.C., this week. The Senate is expected to consider pending nominations, and the House will consider legislation. The Senate Banking Committee will conduct hearings on new consumer financial products and SEC oversight.
CUNA and the National Sheriffs’ Association (NSA) have entered into a strategic collaboration agreement in support of the NSA’s Inmate Growth Naturally and Intentionally Through Education (IGNITE) program, which helps incarcerated people obtain vital life skills, such as financial education.
Credit Union Magazine’s Fall 2022 issue highlights credit unions’ role in cryptocurrency, the state of digital assets, cannabis banking compliance, the human side of technology implementation, and involving the board in financial discussions.