Credit unions are willing to make smaller balance loans that are less profitable compared to other financial institutions, CUNA wrote to the Department of Housing and Urban Development (HUD) Monday.
CUNA applauds HUD for providing clarity and consistency by ensuring there is a codified discriminatory effects standard, but urges it to offer a safe harbor for policies directly required by statutory obligations, such as credit union field of membership limitations.
Credit Union Magazine’s Spring 2023 issue features the 2023 Credit Union Heroes and examines CUNA-League advocacy priorities, board leadership, the impact of financial well-being efforts, fee-related compliance issues, predictions for the year ahead, and more.