Credit union supported candidates saw another complete set of victories in primaries in New Hampshire and Rhode Island Tuesday. Candidates were supported by the Cooperative Credit Union League and the Credit Union Legislative Action Council (CULAC), CUNA’s federal political action committee.

CUNA generally supports the CFPB's proposal amending the definition of a General Qualified Mortgage and offered specific amendments to help credit unions in its comment letter filed this week. The proposal would, among other things, remove the 43% DTI cap and replace it with a price-based threshold.

CUNA supports bipartisan Senate efforts to extend the CBM review program at the U.S. Patent and Trademark Office (USPTO), it wrote to Sens. David Perdue (R-Ga.) and Richard Blumenthal (D-Conn.), Senators supporting extending the CBM, currently scheduled to expire Sept. 15.

CUNA and its members are committed to ensuring that diversity, equity, and inclusion continue to play a meaningful role throughout every aspect of the financial services sector, CUNA wrote to leadership of the House Financial Services subcommittee on diversity and inclusion Tuesday.

The Senate in is session this week and the House will conduct hearings. CUNA will be engaged in several of the hearings this week, and CUNA Chief Advocacy Officer Ryan Donovan addressed Congressional priorities through the election in this weeks Advocacy Update video.

The National Credit Union Foundation has been working closely with the California and Nevada Credit Union Leagues, Louisiana Credit Union League, and the Cornerstone Credit Union Foundation to evaluate the disaster relief needs of credit union employees and volunteers In response to the California Wildfires and Hurricane Laura

When credit union members get involved in an election it signals to legislators that credit union policy matters, CUNA Deputy Chief Advocacy Officer for Political Action Trey Hawkins said, discussing CUNA’s launch of the “Credit Unions Vote” MAP Campaign and why it’s essential for credit unions to activate their members.

FHFA Director Mark Calabria responded to letters from CUNA and all 35 state Leagues expressing concerns over the proposed GSE refinance fee. CUNA wrote to the multiple times, most recently Aug. 25, shortly before FHFA announced the fee implementation would be delayed by three months to Dec. 1.

NCUA and other regulators recognize the serious impact of Hurricane Laura and the California wildfires on the customers and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to their supervision.

The Credit Union System COVID-19 Restart and Recovery Task Force released new findings for credit unions regarding business continuity, digital services and automation, staffing and operations, and industry financial impact Thursday. Credit unions have adopted a more strategic approach to staff training to better equip employees.