Credit union loans outstanding increased 1.0% in February 2022, compared to a 0.7% increase in January of 2022 and a 0.2% decrease in February of 2021, according to CUNA’s latest Monthly Credit Union Estimates.
CUNA hopes Congress will continue to support the SBA Office of Advocacy, as it has done commendable work to amplify the voices of small businesses and entities that serve them and provides a forum for credit unions and other small entities to share their perspective.
Appropriately applied proportionality can significantly advance the G20’s goals of promoting financial inclusion. Proportionality allows national regulators to tailor rules often designed for large, internationally active banks to allow local, community-based financial institutions to operate.
Rep. Fred Upton, R-Mich., will not seek re-election in 2022. Upton has long supported credit unions, including introducing legislation to simplify PPP loan forgiveness and citing credit unions when speaking in support of legislation to update the PPP process
NCUA and the Federal Deposit Insurance Corporation will co-host a webinar focused on credit union officials, bankers, and workforce providers who help young people (ages 16–24) toward financial stability Thursday, April 14, beginning at 1 p.m. ET.
CUNA and other organizations wrote to House Financial Services Committee leadership Tuesday in support of legislation to close the industrial loan company (ILC) loopholes in current law, which allow them to operate without being subject to oversight and standards.
The House and Senate are both in Washington, D.C. this week. The House will consider the Restaurant Revitalization Fund Replenishment Act of 2021, and the Senate will consider the nomination of Ketanji Brown Jackson to the U.S. Supreme Court.
CUNA supports the overall objective of NCUA’s succession planning proposal but feels the benefits of a succession plan requirement can generally be achieved through guidance, without the accompanying burden associated with regulation.
NCUA issued a Letter to Federal Credit Unions (22-FCU-02) on the final rule amending the definition of “service facility” for multiple common-bond credit unions. The rule became effective Dec. 27, 2021.