The Illinois Credit Union System, in collaboration with over 850 organizations, took social media by storm for the 2nd annual #ILoveMyCreditUnion social media blitz on July 29. The campaign saw participation from all 50 states and 11 countries around the world.
Digital asset innovations represent new opportunities for consumers and credit unions, CUNA wrote to the Treasury Monday in response to a request for information on digital asset development. CUNA notes credit unions support a “whole-of-government” approach to the issue.
CUNA, all Leagues, the American Bankers Association, and all state banking associations wrote to Congressional leadership outlining strong opposition to the interchange bill introduced earlier this month by Sens. Roger Marshall, R-Kan., and Dick Durbin, D-Ill.
CUNA strongly supports the Financial Crimes Enforcement Network’s (FinCEN) effort to establish a no-action letter process, it wrote to FinCEN Friday. No-action letters come from government agencies stating it will not take legal action should an entity proceed with a proposed course of action.
Ginnie Mae issued an amendment to its mortgage-backed securities guide removing credit unions’ categorization as non-bank mortgage lenders and recognizing them as insured depositories regulated by prudential regulator, which CUNA has strongly advocated for.
CUNA and other organizations filed a brief in the 2nd Circuit Court of Appeals Thursday in Sessa v. TransUnion stating the FCRA requires credit reporting agencies to guard against factual inaccuracies, not to resolve legal disputes.
CUNA wrote Sen. Jon Ossoff, D-Ga., asking him to reconsider his Improving Cybersecurity of Credit Union Act, a bill that would give NCUA authority over third-party vendors. The League of Southeastern Credit Unions and Affiliates shared CUNA’s concerns.
NCUA, and other regulators are inviting comment on a proposed policy statement for prudent commercial real estate (CRE) loan accommodations and workouts. Comments are due 60 days from date of publication in the Federal Register.
Thirty-one credit union-friendly candidates won their primary races in Arizona, Kansas, Michigan, Missouri, and Washington Tuesday. Credit Union Legislative Action Council (CULAC) and state leagues have backed 255 credit union champions with a 97% success rate this election cycle.
Credit Union Magazine’s Fall 2022 issue highlights credit unions’ role in cryptocurrency, the state of digital assets, cannabis banking compliance, the human side of technology implementation, and involving the board in financial discussions.