CUNA joined the Chamber of Commerce and multiple bank trade associations in filing an amicus brief this week in a Fair Debt Collection Practices Act case that could expand the potential actions that would violate the FDCPA.
NCUA’s latest Letter to Credit Unions provides credit unions with an update on the agency’s examination programs, including the Modern Examination and Risk Identification Tool (MERIT) and associated systems, as well as the updated CAMELS rating system.
NCUA issued a Letter to Credit Unions outlining its supervisory priorities for 2022 which include Credit risk management, cybersecurity, payment services, BSA and AML/CFT compliance, risk-based capital implementation, and consumer financial protection.
The House and Senate are in session this week to consider various legislation. Committee hearings will cover cryptocurrency blockchains and their energy impacts, as well as the state of rural economies with Secretary of Agriculture Tom Vilsack.
Credit union loans outstanding increased 0.7% in November, compared to a 1.0% increase in October of 2021 and a 0.2% increase in November of 2020, according to CUNA’s latest Monthly Credit Union Estimates. Adjusted mortgage loans led loan growth during the month.
CUNA Senior Economist Dawit Kebede shared his thoughts on projected increases in credit card interest rates for an article in Bankrate article on the topic. These interest rates began to climb in 2021, a trend that will likely continue into 2022.
The Wisconsin Credit Union League recapped a successful year in its 2021 League Highlights. The League saw advocacy successes while also working to further awareness of the credit union difference in their state.
CUNA wrote to the CFPB Thursday with suggestions for additional data development and analysis in order to promote shared understanding of overdraft services, including conducting a study of consumer preferences regarding overdraft.
The Dakota Credit Union Association recapped a successful year with its latest impact report, titled “Membership Matters” and detailing how the Dakota Credit Union Association helped credit unions in North and South Dakota so they could continue serving their members.