NCUA selling its portfolio of taxi medallion loans is not an appropriate step at this time, CUNA wrote NCUA, as it may harm not only the credit unions holding taxi medallion loans but ultimately all federally insured credit unions due to the effect on the NCUSIF.
Solarity CU has created a relief program meant to provide assistance for those who lost their jobs due to the abrupt closure of Astria Regional Medical Center which created potential hardships for hundreds of local healthcare workers and their families.
The CFPB should explore several revisions and additions to its remittance rule, CUNA wrote in response to a proposed rule making several changes to the remittance rule, including raising the threshold to 500 remittance transfers per year.
CUNA Chief Economist Mike Schenk thanked NCUA for its transparency on budget priorities and noted the agency’s budget justification is clear, comprehensive and well-developed at NCUA 2020-21 budget briefing Wednesday.
Congress is expected to consider legislation this week to fund the federal government past Nov. 21, when funding is set to expire. CUNA will also be engaged with several hearings in both chambers this week.
CUNA will host a free webinar Nov. 20 discussing patent enforcement of remote deposit capture technology, particularly in the wake of the $200 million verdict awarded to USAA from Wells Fargo earlier this month scheduled to begin at 1 p.m. (ET).
Funding for the federal government is set to expire Nov. 21, though Congress is expected to consider another continuing resolution this week to fund the government through Dec. 20, according to reports.
The Financial Accounting Standards Board officially finalized the delay for implementation of the CECL standard to January 2023 Friday. The board agreed to the delay in October and Friday’s action makes it official.
Google staff visited CUNA’s Washington, D.C. office earlier this week to discuss its plans to partner with credit unions and banks to offer checking accounts through Google Pay, providing details along with a timeline.
The NCUA board will discuss a proposal on real estate appraisals, a final interpretive rule and policy statement on Chairman Rodney Hood’s “second chance” proposal at its Nov. 21 meeting, scheduled to begin at 10 a.m. (ET).
A bill exempting loans to veteran-owned businesses from the member business lending cap has CUNA’s full support, CUNA President/CEO Jim Nussle wrote to bill sponsors Sens. Dan Sullivan (R-Alaska) and Mazie Hirono (D-Hawaii) Tuesday.
CUNA commented on four bills set to be marked up starting Wednesday by the House Financial Services Committee, supporting one and expressing concerns over three related to the Fair Debt Collection Practices Act..