The CDFI Fund announced this week it anticipates that it will resume accepting CDFI Certification Application submissions in the fall of 2023. It paused accepting new applications Oct. 1, 2022 and was expected to resume in April.
CUNA strongly supports efforts to pass long-term reauthorization of the National Flood Insurance Program and encourages the Senate Banking, Housing, and Urban Affairs Committee to focus on solutions to ensure costs are rooted in actual risk to property.
CUNA applauds the CFPB's decision to review and consider modernization for its mortgage loan originator rules, and said credit unions generally report they have successfully implemented policies and training to ensure compliance with the rule over the last decade.
CUNA joined other financial services trade organizations Monday in making a second request that the CFPB extend the deadline for its proposed rule on credit card late fees to June 18, 45 days past the current May 3 deadline.
Sen. John Kennedy, R-La., introduced the CUNA and League-supported Transparency in CFPB Cost-Benefit Analysis Act Monday. The bill would require the CFPB to conduct a cost-benefit analysis and other procedures as part of any rulemaking activity.
Sen. Ben Cardin, D-Md., announced Monday he will not run for re-election in 2024. Cardin—chair of the Senate Small Business Committee—has served in the Senate since 2007, prior to that he served in the House representing Maryland’s 3rd Congressional District starting in 1987.
The Senate is in Washington, D.C., this week and will consider judicial nominations, while the House is in recess. The Senate Banking, Housing, and Urban Affairs Committee will conduct several hearings this week of interest to credit unions.
CUNA announced the appointment of Alex Catanese as its newest director of advocacy. Catanese will help manage the association’s relationships with Democrats on a variety of key advocacy issues in his role at CUNA. He previously served as CUNA’s associate director for political outreach.
CUNA has serious reservations about the conclusion of a Government Accountability Office study relating to the regulation of depository institutions, as it makes several troublesome recommendations about the federal financial regulatory structure.
The Consumer Financial Protection Bureau will conduct the next meeting of its Credit Union Advisory Council (CUAC) May 17, a discussion of "broad policy matters related to the bureau's Unified Regulatory Agenda and general scope of authority," according to the agenda.
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.