The Senate voted 52-47 Tuesday night in favor of a CUNA-backed repeal of the Office of the Comptroller of the Currency’s “true lender” rulemaking. CUNA wrote Senate leadership Tuesday supporting the repeal, which was done via the Congressional Review Act (CRA).
CUNA and other organizations wrote to House leadership Tuesday with concerns over language in debt collection legislation that would reverse a unanimous 2019 U.S. Supreme Court decision on what qualifies as a debt collector under the FCDPA.
Credit Union Awareness LLC announced Tuesday it is expanding the Open Your Eyes to a Credit Union® campaign in Texas and Oklahoma, just two weeks after launching the campaign in Wyoming, which became the 26th state to participate in the program.
Congress should carefully assess the costs and benefits of imposing a new level of data collection on the already over-complicated tax reporting structure, CUNA and other organizations wrote Monday to a Senate Finance Subcommittee.
CUNA supports the CFPB Regulation X amendments regarding streamlined modifications, but strongly objects to a proposed moratorium on foreclosures until 2022. The CFPB proposals would generally prohibit mortgage servicers from starting foreclosure until after Dec. 31, 2021.
Comply-YES! has become a business advocate for credit unions as the newest associate-level CUNA Associate Business Member. Comply-YES! is a CUSO helping credit unions navigate compliance by providing cost-effective compliance support and services that are YES! oriented, solution driven, and relationship focused.
CUNA supports one of NCUA’s potential approaches to simplifying risk-based capital (RBC) requirements, but also reiterated its long-held belief that the 2015 RBC rule is “functionally unnecessary” in comments filed with the agency Monday.
Adding a new component, and modifying an existing one, in NCUA’s CAMEL rating system would provide greater clarity and transparency, CUNA wrote in response to NCUA's proposal to add an “S” for “sensitivity risk” to the CAMEL system.
CUNA released a new industry report Monday that found 51% of U.S. credit union CEOs – and 33% of board members – are women. The “Women in Credit Union Leadership” issues brief examines the extent to which women are represented in leadership positions at credit unions compared to commercial banks.
Credit union loans outstanding increased 0.2% in March, compared to a 0.2% decrease in February of 2021 and a 0.3% increase in March of 2020, according to CUNA’s latest Monthly Credit Union Estimates. Unsecured personal loans led loan growth during the month.