The Federal Reserve should allow all credit unions—regardless of the source of deposit insurance—access to its Bank Term Funding Program (BTFP), CUNA, the American Association of Credit Union Leagues, and 45 state credit union Leagues and Associations wrote to the Federal Reserve Wednesday.
The FedNow Service will start operating in July, according to the Federal Reserve. It will begin the formal certification of participants for launch of the service in the first week of April.
The Federal Reserve should extend the effective date for its recent Regulation II final rule to Jan. 1, 2025 in order provide debit card issuers time to implement its requirements, CUNA wrote to the Fed. The rule will currently become effective July 1.
Credit Union Rock Stars are outstanding credit union professionals and directors from a wide range of disciplines who inspire and innovate to advance the missions of their credit unions. The 25 members of the 11th class of Rock Stars were selected for their exceptional creativity, innovation, and passion.