CUNA News

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Single taxi medallion loan sale not in best interest of CUs, members

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 offers urgent financial relief to laid-off employees

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.

Amending remittance rule will reduce costs, increase access

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.

Policy & Issues

Solarity CU offers urgent financial relief to laid-off employees

Policy & Issues

Amending remittance rule will reduce costs, increase access

Policy & Issues

TRID costs have affected CU lending, mitigation needed

Ongoing compliance costs from the TRID rule continue to affect credit union lending, CUNA wrote to the CFPB as it assesses the rule as required by statute. CUNA found TRID rule compliance expenditures cost credit unions $563 million in 2018 alone.

Policy & Issues

Compliance: CUNA’s 2019 Year in Review now available

CUNA’s 2019 Year in Review is now available, recapping the year in finalized rules and amendments that affect credit unions. CUNA’s 2019 Year in Review Checklist will be released on CUNA’s CompBlog in the coming days.

Policy & Issues

Donovan: CUs purchasing banks advance communities

The recent trend of credit unions purchasing banks is something that advances the communities lawmakers’ constituents live, work, and thrive in, CUNA Chief Advocacy Officer Ryan Donovan says in a recent video on credit unions purchasing banks.

Policy & Issues

Comments on CFPB remittance rule changes due Jan. 21

CUNA is encouraging credit unions to submit their comments on the CFPB proposal to raise the safe harbor thresholds for its remittance rule by the Jan. 21 deadline. Stakeholders can use CUNA’s Grassroots Action Center to submit comments.

Policy & Issues

NCUA to consider subordinated debt proposal at Jan. 23 meeting

The NCUA board will consider proposals on subordinated debt and credit union combination transactions, among other items, at its Jan. 23 meeting. This is the board’s first meeting of 2020, and it will be livestreamed on NCUA.gov starting at 10 a.m. (ET).