Five federal financial regulators, including NCUA, released a joint statement on the use of alternative data in underwriting by credit unions and other financial institutions noting the benefits that using alternative data may provide to consumers.

CUNA seeks clarity on the California Consumer Privacy Act rules so credit unions can properly comply. The law’s definition of “business” needs further clarification, as the definition in the bill does not address not-for-profit status.

The FHA plays a critical role in homeownership, yet impediments exist keeping credit unions from accessing the FHA lending program. CUNA made suggestions that could create a regulatory environment that boosts credit unions’ confidence in the program.

The NCUA board will consider a final risk-based capital rule, the agency’s 2020-21 budget and will receive a briefing on the 2020 share insurance fund Normal Operating Level (NOL) at its Dec. 12 meeting.

Credit unions and the financial services industry at large are dedicated to protecting customer information along with working to ensure that systems used to provide financial services to Americans are robust, secure and resilient.

CUNA identified both where it has seen positive steps by NCUA as well as issues where improvements can be made in a letter for the record of NCUA Chairman Rodney Hood’s testimony before the Senate Banking Committee Thursday.

Concerns over potential negative community effects from credit unions purchasing banks are misinformed and inaccurate, CUNA President/CEO Jim Nussle wrote to Federal Deposit Insurance Corporation Chair Jelena McWilliams Thursday.

The House voted Wednesday to pass the Telephone Robocall Abuse Criminal Enforcement and Deterrence (TRACED) Act, legislation designed to combat unwanted robocalls via the Telephone Consumer Protection Act. 

Credit unions are deeply concerned that Americans’ financial wellness is compromised by inconsistent privacy and security standards applied to businesses that possess, process or transport consumers’ nonpublic personal information.

Nikki R. Haley, U.S. Ambassador to the United Nations from 2017-2019, will be the Tuesday keynote speaker at the 2020 CUNA GAC, February 23-27 in Washington, D.C. This annual conference is the credit union system’s premier advocacy event.