NCUA Chairman Rodney Hood wrote a letter to credit unions last week asking credit unions of all sizes, particularly those with 100 or more employees, to complete NCUA's Voluntary Credit Union Diversity Self-Assessment annually.
CUNA supports the CFPB innovation mission and the use of “Tech Sprints,” but credit unions must have a seat at the table, CUNA wrote Friday. Tech Sprints gather experts to work together to develop innovative solutions to clearly-identified challenges.
CUNA strongly supports the Federal Reserve board’s decision to develop interbank settlement of faster payments, as the Fed proposed potential actions to create an interbank 24x7x365 real-time gross settlement service called FedNow.
CUNA has received four additional nominations for its board elections, as of close of business Nov. 4. The deadline for nominations and seconds is Nov. 6. In contested elections, voting will begin Nov. 12 and close Dec. 18.
CUNA will be engaged with two Senate hearings this week, while the House is for a district work period. CUNA encourages leagues and credit unions to make contact with their elected officials to discuss credit union priorities in their home districts this week.
The CFPB and other agencies have announced thresholds for certain regulations for 2020. This includes for higher-priced mortgage loans made during calendar year 2020 and Regulations Z and M for consumer credit and lease transactions.
NCUA board member Todd Harper requests comment on creating a dedicated consumer compliance exam program for large, complex credit unions. Current exams in credit unions assets of $10 billion or less differs from other financial regulators.
The U.S. District Court for the Western District of Pennsylvania will hold a final approval hearing Nov. 6 for the settlement in the Wendy’s data breach lawsuit. CUNA, state leagues and a number of credit unions are among the plaintiffs in the lawsuit.
CUNA has received several nominations for its board elections. The deadline for nominations and seconds is Nov. 6. In contested elections, voting will begin Nov. 12 and close Dec. 18. Nomination information can be found on the CUNA Website.
The House Financial Services Committee passed a bill Wednesday to require regulators to issue a report describing measures it has taken to strengthen cybersecurity and enhance the Federal Information Security Modernization Act
Credit unions can get valuable information about a range of consumer protection topics on a Nov. 19 webinar hosted by NCUA, including PAL IIs, HMDA review findings, Regulation B and elder financial abuse.