Cornerstone Credit Union League President/CEO Caroline Willard debunked several credit union myths and noted that despite bank claims to the contrary, the credit union system provides billions in taxes and consumer savings, money that helps promote financial well-being for all.

NCUA’s latest Regulatory Alert covers the March 16 interpretive rule from the CFPB clarifying that the prohibition against sex discrimination in the Equal Credit Opportunity Act encompasses discrimination based on sexual orientation and gender identity discrimination.

Small lender access to the secondary mortgage market is vital to ensuring the housing finance market benefits consumers, CUNA Senior Director of Regulatory Advocacy and Counsel Elizabeth LaBerge told a Federal Housing Finance Agency (FHFA) listening session Thursday.

CUNA and other organizations requested the Federal Reserve extend the comment deadline on a proposal that could increase costs and complexity for debit card routing requirements. Comments are currently due July 12, CUNA requested a 30-day extension.

CUNA and other financial industry associations supported a petition for a rehearing en banc of a lawsuit that deals with communications under the Fair Debt Collection Practices Act (FDCPA) in an amicus brief filed Tuesday. CUNA and the organizations seek a re-hearing before the entire 11th Circuit Court of Appeals. 

Credit union-supported New Mexico State Rep. Melanie Stansbury (D) won Tuesday’s special election to represent the state’s 1st Congressional District. The election was held to fill the seat of former Rep. Deb. Haaland, who was appointed Secretary of the Interior.

NCUA released its report on the Community Development Revolving Loan Fund (CDRLF) to Congress Tuesday. NCUA Chairman Todd Harper also requested Congress consider increasing the fund’s appropriation for FY2022.

Comments on NCUA’s proposed temporary changes to Prompt Corrective Action regulations and an RFI on Interagency Model Risk Management Guidance and its affects on BSA/AML and OFAC compliance are due in June.

Banks attacking credit unions undermine America's civic sector, a group of policy-minded students and young professionals wrote in The Washington Times. The article responds to false bank claims made recently about the “cost” of the credit union tax status and bank sales to credit unions.

The Biden administration released its Fiscal Year 2022 budget proposal Friday with increased funding to several credit union priorities, including $330 million for the Treasury’s CDFI Fund, $2 million for NCUA's CDRLF and $18.5 million for USAID's Cooperative Development Program.