Articles

Need for CFPB Oversight Commission Stressed at Kraninger Hearing

Two members of the Senate Banking Committee called for board/commission oversight of the Consumer Financial Protection Bureau (CFPB) during the confirmation hearing of Kathleen Kraninger, President Trump’s choice to lead Bureau.

in Legislative & Political News
CUNA Sends Letter to Senate Banking Committee on CFPB Nomination

CUNA sent a letter to Senate Banking Committee leadership ahead of the Consumer Financial Protection Bureau's (BCFP or Bureau) Director nomination hearing. The letter was written to Chairman Michael Crapo (R-ID) and Ranking Member Sherrod Brown (D-OH) in support of the nomination process and urges Congress to support a bipartisan commission for the CFPB.

in Legislative & Political News
Bite of Reality App Grants Now Available from National CU Foundation

Grant Funds Available to Add Technology to the Reality Fair Experience

Credit union organizations can now apply for a Bite of Reality App Grant from the National Credit Union Foundation (the Foundation) through August 31, 2018. The Foundation is looking to distribute up to $50,000 in grant funds to credit union organizations as part of this effort. 

in Industry News
CUNA Mutual Group Risk Alert: Credit Unions Face Overdraft Fee Lawsuits

Law firms, alleging overdraft fees are being improperly assessed, have again ramped up class-action lawsuits against credit unions. Plaintiff attorneys allege overdraft fees are being improperly assessed on the available balance in the account rather than the actual balance, and that credit unions failed to accurately describe this in the agreements – member account agreement and/or Regulation E’s (Reg E) opt-in agreement for ATM and one-time debit card transactions. One law firm has sent demand letters threatening a lawsuit unless the credit union is willing to cooperate in resolving the overdraft fee issue.

in Risk Alerts
NJ Joins Suit Over Federal SALT Limits

“Blue state” Democrats have been saying it for a long time, and now New Jersey has joined a coalition of predominately Democratic states that have filed a lawsuit saying the new federal tax law is a politically motivated attack on them.

in Legislative & Political News
Joint Letter Urges House Leaders to Prohibit Postal Service Banking

CUNA joined other trade association in sending a letter to House leaders urging the adoption of Rep. Patrick McHenry’s (R-N.C.) amendment to the Financial Services and General Government (FSGG) appropriations bill to prohibit the U.S. Postal Service from providing banking services.

in Legislative & Political News
House Passes CUNA/League-supported RBC Delay

The JOBS and Investor Confidence Act of 2018 (S. 488) passed the House of Representatives in a 406-4 vote on Tuesday. Title XVII of the House Amendment would delay the risk-based capital rule recently finalized by NCUA. CUNA supports the measure as it reduces the impact on credit unions by pushing the effective date from January 1, 2019 to January 1, 2021.

in Compliance & Regulatory News
NCUA to Issue CUNA-backed Share Insurance Fund Distribution

As CUNA continues to press NCUA to reduce the Share Insurance Fund Normal Operating Level (NOL), the agency has announced it will issue dividends in 2018 during the week of July 23 for more than 5,700 eligible institutions.

in Legislative & Political News
CUNA Participates in Cybersecurity Panel

CUNA represented credit unions in a cybersecurity panel discussion that took place in Washington on Monday.

in Compliance & Regulatory News
CUNA Letter Outlines RBC Concerns

CUNA Monday sent a letter to the House sub-committee on Financial Institutions and Consumer Credit regarding the sub-committee’s hearing upcoming on, “Examining Capital Regimes for Financial Institutions.”

in Compliance & Regulatory News
CUNA Calls for Changes to CFPB Complaint Processes

Changes are needed regarding how the Consumer Financial Protection Bureau handles complaints, CUNA told the Bureau in its comprehensive white paper. CUNA submitted its white paper to the Bureau Monday in response to its request for information on the consumer complaint and inquiry process.

in Compliance & Regulatory News
NJCUL Takes the ‘Scare’ Out of Compliance at 9th Annual Compliance Conference on Friday the 13th

HIGHTSTOWN, N.J. – The New Jersey Credit Union League hosted a sold-out annual compliance conference with the theme of Don't Let Regulators Find Skeletons in Your Closet!” NJCUL President/CEO David Frankil welcomed the large group of CEOs, board members, and compliance professionals, who then heard from seven speakers that provided best practices, tips, real-world scenarios, and practical solutions to help keep regulators out of their closet!

in Compliance & Regulatory News
NJCFE Hosts Free Financial Literacy Roundtable with Updates on Crypto Currency and Job Act Implications

MANALAPAN, N.J. – The New Jersey Coalition for Financial Education (NJCFE), a partner of the New Jersey Credit Union Foundation, held an informative Financial Literacy Roundtable for educators, community organizations, financial institutions, non-profits, and more, on Friday, July 13th. Attendees heard from Crypto Currency experts on risks and rewards in that emerging realm and Rutgers Professor Barbara O’Neill on financial planning after tax cuts and the Job Act.

in NJ CU Foundation News
Compliance: Changes to Remote Deposit Capture Effective July 1

New warranty and indemnity rights, liabilities and obligations under Regulation CC became effective July 1. The Federal Reserve’s final rule creates a new Remote Deposit Capture Indemnity to address the allocation of liability when a depositary institution accepts deposit of a check through remote deposit capture.

in Compliance & Regulatory News
Dramatic Rise in Credit Card Info For Sale on Dark Web, Study Finds

The cybersecurity research firm IntSights released a report last week examining threats faced by financial institutions, which found that the amount of credit card information for sale on the dark web has roughly quadrupled over the past two years, with a 135 percent increase from the first half of 2017 through the first half of 2018.

in Industry News
CUNA Urges CFPB to Regularly Assess Complaint System

CUNA urged the Consumer Financial Protection Bureau (CFPB) Friday to regularly assess its overall complaint system for compliance burden relief opportunities. CUNA wrote its letter in response to a Bureau request to the Office of Management and Budget to renew information collection associated with its Company Portal.

in Compliance & Regulatory News
CUNA’s Nussle, Eurgubian talk CFPB RFIs at Bureau Roundtable

CUNA President/CEO Jim Nussle and Deputy Chief Advocacy Officer Elizabeth Eurgubian attended roundtable discussion Thursday with Consumer Financial Protection Bureau (CFPB) Acting Director Mick Mulvaney. The roundtable featured discussion of several of the Bureau’s recent requests for information about how it performs its functions.

in Legislative & Political News
CUNA Backs Senate Bill to Provide TRID Regulatory Relief

CUNA joined other trade organizations Thursday to back a Senate bill that would make regulatory relief changes to the Real Estate Settlement Procedures Act (RESPA). The TRID Improvement Act of 2018 (S. 2490) was introduced by Sens. Tim Scott (R-S.C.) and Doug Jones (D-Ala.).

in Compliance & Regulatory News
CU Advocates Meet with Sen. Van Drew, Candidate for Congress

There were little or no real surprises in New Jersey’s Congressional primary elections. Those incumbents running for re-election won their party’s nomination for an additional term, and all CULAC-supported candidates won their race.

in Legislative & Political News
Murphy Said to Want $15 Minimum Wage Bill by Year's-end

According to a story in Politico, during an unrelated Atlantic City press conference Tuesday Gov. Phil Murphy said that he wants lawmakers to send him legislation before the end of the year that would raise the state's minimum wage to $15 per hour. Support for a $15 minimum wage was one of the positions candidate Murphy campaigned on last year, and he has re-affirmed that commitment on numerous occasions since taking office in January.

in Legislative & Political News
CUNA Highlights Need for FCRA, Regulation Guidance Updates

The Fair Credit Reporting Act (FCRA) and its implementing regulations and guidance could be updated to provide more clarity and flexibility, CUNA wrote the Senate Banking Committee leadership Wednesday. CUNA sent its letter for the record of the committee’s Thursday hearing on the FCRA and credit bureaus.

in Legislative & Political News
Former Camden Councilman Fills Legislative Vacancy

A former Camden councilman has been tapped to fill the Assembly seat vacated when the incumbent resigned following his arrest on domestic violence charges.

in Legislative & Political News
Supreme Court Nominee Ruled CFPB Structure 'Unconstitutional' in 2016

Judge Brett Kavanaugh, President Trump’s nominee to fill the U.S. Supreme Court seat opening as a result of the retirement of Justice Anthony Kennedy, has served on the U.S. Court of Appeals for the D.C. Circuit since 2006. In 2016, he wrote an opinion for a three-judge panel that found the Consumer Financial Protection Bureau (CFPB)’s single-director structure unconstitutional.

in Legislative & Political News
CUNA Launches MAP Community to Enhance Advocacy Coordination, Share Ideas

CUNA launched a new online community this week for its Member Activation Program (MAP), a forum where credit union industry professionals can discuss advocacy issues, communications, best practices and exchange ideas and resources to better advocate for credit unions. The MAP Community is a free and available to all CUNA members.

in Legislative & Political News
Deepwater Industries FCU President/CEO Ida Bowen Announces Retirement

DEEPWATER, N.J. – Deepwater Industries FCU President and CEO, Ida Bowen, has announced that she will be retiring effective August 1, 2018. Bowen has served as President and Chief Executive Officer since February 2015. COO Sutton Gant has accepted the position of President and CEO effective August 1.

in Credit Union News
CFPB Acting Deputy Director Named

Consumer Financial Protection Bureau (CFPB) Acting Director Mulvaney announced he has selected Brian Johnson, who currently serves as Principal Policy Director at the Bureau, to assume the responsibilities of Acting Deputy Director.

in Legislative & Political News
CUNA Backs CFPB, Foundation Partnership for Financial Education

CUNA strongly encourages the Consumer Financial Protection Bureau (CFPB) to work with the National Credit Union Foundation in its consumer education efforts, it wrote in its comprehensive white paper to the Bureau. CUNA submitted its white paper Monday in response to the Bureau request for information on financial education programs.

in Compliance & Regulatory News
CUNA Engaged in FCRA, Cybersecurity Hearings this Week

CUNA will be engaged with a Senate Banking Committee hearing on the Fair Credit Reporting Act (FCRA) this week, in addition to other activities in both chambers. The House and Senate are also expected to consider several natural resources bills.

in Legislative & Political News
Credit Unions Brought $15B in Value to Marketplace in 2017

In the world of financial services, credit unions continue to provide a steady, reliable, community-based alternative, CUNA writes in its updated white paper on the credit union tax status, released Thursday. CUNA’s research finds that, in 2017 alone, the credit union system created $15 billion in financial benefits to members and non-members alike.

in Legislative & Political News
Lending, Membership Growth Lead May MCUEs

Lending and membership growth led strong credit union results in May, according to the latest Monthly Credit Union Estimates.

in Industry News
CFPB’s English Resigns, Ends Leadership Challenge

Consumer Financial Protection Bureau Deputy Director Leandra English will step down from the Bureau and no longer challenge Acting Director Mick Mulvaney for leadership of the Bureau, according to reports Friday. President Donald Trump nominated White House budget official Kathy Kraninger to lead the Bureau in June.

in Legislative & Political News
Comments on final two CFPB RFIs due in July

Credit unions will have two final opportunities to comment on Consumer Financial Protection Bureau (CFPB) Requests for Information (RFI) this month. These deadlines will wrap up the Bureau’s series of RFIs on how it functions.

in Compliance & Regulatory News
NCUA issues CUNA-requested update on S. 2155 HMDA changes

The National Credit Union Administration (NCUA) issued information Thursday on changes to Home Mortgage Disclosure Act (HMDA) reporting required by the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155). CUNA has pushed regulators to issue guidance on the numerous regulatory relief provisions contained in the bill.

in Legislative & Political News
Federal Financial Institutions Regulators Issue Statement on HMDA Changes

ALEXANDRIA, Va. – The National Credit Union Administration (NCUA) and other federal financial institutions regulators have issued a joint statement describing amendments to the Home Mortgage Disclosure Act that are required by the Economic Growth, Regulatory Relief, and Consumer Protection Act.

in Compliance & Regulatory News
Community Development Grant Round Now Open

Approximately $2 Million Available; Application Deadline is Aug. 18

ALEXANDRIA, Va. – Low-income credit unions interested in applying for Community Development Revolving Loan Fund grants can begin submitting applications now.

in Compliance & Regulatory News
Forbes’ CU and Bank Ranking: CUs Beat Banks, CUNJ Ranked #3 in NJ

Forbes recently partnered with market research firm Statista to produce its first-ever Best-In-State Banks and Credit Unions ranking. In total, 124 banks and 145 credit unions made the final cut, equaling 2.4% of U.S. financial institutions. Credit unions outpaced banks with an average score of 80 versus 75.2 for banks. Customers also rated CUs higher than banks: 4.42 for credit unions and 4.24 for banks, on a scale of 1 to 5.

in Industry News
Changes to CU Webinar Network Emails

Do you participate in CU Webinar Network (CUWN) webinars? We have some good news! CUWN will soon be making a series of email enhancements. These changes will help serve you better, delivering information on webinars and training tailored to your wants and needs. Simply stated: fewer emails, more relevant content, everyone goes home happy.

in Industry News
Nussle Opens ACUC with Awareness Initiative ‘Open Your Eyes to a CU'

CUNA intends to raise $100 million over the next three years to fund and sustain a research-driven national credit union awareness program, CUNA President/CEO told attendees at America’s Credit Union Conference (ACUC) in Boston on Friday. America’s credit unions and business partners, with support from CUNA, set the funding goal to launch in the digital marketplace through 2021.

in Industry News
CUNA Continues TCPA Relief Push in Reply Comments to FCC

The Federal Communications Commission (FCC) should take the opportunity suggested by CUNA and others to update the Telephone Consumer Protection Act (TCPA) to treat informational calls to wireless phones the same as calls to landlines, CUNA wrote Thursday. CUNA filed reply comments to the FCC’s petition asking for comments on the TCPA.

in Legislative & Political News
Credit Union Day at Yankee Stadium!

On behalf of our good friends to the North, the New York Credit Union Association, we want to make you aware of Credit Union Day at Yankee Stadium being held on Thursday, August 16th.

in Industry News
SBA Legislation Signed into Law

President Trump signed legislation that would strengthen the Small Business Administration's (SBA) 7(a) loan program.

in Legislative & Political News
NJCUL/CUNA Opposing NDAA Provision Excluding CUs from Military Bases

The NJCUL wrote to members of New Jersey’s Congressional Delegation to oppose a provision in the House version of the National Defense Authorization Act (H.R. 5515) that would exclude credit unions from the current resources furnished to them on military bases. The provision would be a detriment to military credit unions while granting banks access to the same bases.

in Legislative & Political News
NCUA to Host Share Insurance Webinars

ALEXANDRIA, Va. – Share insurance is a fundamental part of the nation’s credit union system, and credit union professionals can learn more about how it works on two upcoming webinars hosted by the National Credit Union Administration (NCUA).

in Industry News
Reg CC Changes Effective July 1

Less than one week from today, new warranty and indemnity rights, liabilities and obligations to Regulation CC could impose greater risks for credit unions. The final rule creates a new Remote Deposit Capture Indemnity in Section 229.34(f) to address the allocation of liability when a depositary institution, such as a credit union accepts deposit of a check through “remote deposit capture.”

in Compliance & Regulatory News
CU-backed Candidates Win in Tuesday’s Primaries, Runoffs

Numerous credit union-friendly candidates saw victories in Tuesday’s primary and runoff elections in multiple states. Primaries took place in Colorado, Maryland, New York, Oklahoma, Utah, and runoffs took place in Mississippi and South Carolina.

in Legislative & Political News
With Two More Frivolous ADA Suits Against CUs Tossed, CU System Continues Advocacy Efforts

Two credit unions facing frivolous lawsuits alleging Americans with Disabilities Act (ADA) violations were thrown out this week. Credit unions are facing lawsuits due to uncertainty with how the ADA applies to Web sites, and CUNA and the leagues have deployed the system’s 360-degree advocacy resources to find a solution in the legal, regulatory and legislative arenas.

in Compliance & Regulatory News
CUNA Urges CFPB to Quickly Implement S. 2155 Changes

The Consumer Financial Protection Bureau (CFPB) should ramp up its efforts to issue new and amended regulations as required by the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155), CUNA wrote Wednesday. CUNA was a strong supporter of the bill, which was signed into law May 24.

in Legislative & Political News
CUNA Continues Capitol Hill Push to Correct Bank Falsehoods

CUNA sent its latest graphic, Setting the Record Straight, combating banker falsehoods to Capitol Hill Wednesday about large credit unions and the credit union tax status. CUNA sent two previous communications to Congressional staffers in recent weeks, all aimed at providing the truth behind banker attacks.

in Legislative & Political News
Foundation Issues 2nd Call for Proposals from CUs to Develop Financial Health KPIs

Grant Funds Available to Measure & Improve Members’ Financial Health

MADISON, Wis. – The National Credit Union Foundation (the Foundation) is looking for credit unions to submit proposals to work with the Center for Financial Services Innovation (CFSI) to develop financial health-related key performance indicators (KPIs) to measure the financial health and business impacts of their products and services. The deadline for credit unions to submit their applications is August 31, 2018.

in Industry News
CUNA/Leagues Oppose NDAA Provision Excluding CUs from Military Bases

CUNA wrote to oppose a provision in the House version of the National Defense Authorization Act (H.R. 5515) that would exclude credit unions from the current resources furnished to them on military bases. CUNA and the leagues believe this provision would be a detriment to military credit unions while granting banks access to the same bases.

in Legislative & Political News
CUNA Refutes Bank Claims, Shows CUs Generate $17.1B in Taxes

CUNA continued its pushback against banker falsehoods Tuesday with a message to Congressional staffers showing the facts behind banker claims about the credit union tax status. CUNA sent a message earlier this month, and will continue outreach as appropriate.

in Legislative & Political News
CUNA Calls for RBC Delay, Elimination of Loan Maturity Limits

CUNA urged the Senate Banking Committee to delay NCUA’s risk-based capital rule and eliminate maturity limits on federal credit union loans. CUNA outlined these issues in a letter sent for the record of the committee’s hearing on ways to enhance consumer access to capital.

in Legislative & Political News
CUNA/League-Supported Bill with RBC Delay Passes House

The House passed a bill Tuesday that contains a CUNA/League-backed provision to delay the implementation date of NCUA’s risk-based capital rule. Specifically, it would push the bill’s effective date back to Jan. 1, 2021, from the currently scheduled Jan. 1, 2019 date.

in Legislative & Political News
Ohio, Alabama Judges Toss Out ADA Cases

District Court judges in Ohio and Alabama have thrown out two lawsuits against a pair of credit unions — Dover, Ohio-based DoverPhila Federal Credit Union and Decatur, Ala.-based Family Security Credit Union — whose Web sites allegedly violated the Americans with Disabilities Act (ADA), according to Credit Union Times. This ruling comes on the heels of a recent string of dismissals of similar cases by District Courts in Virginia.

in Compliance & Regulatory News
CUs Back Candidates in Today’s Primaries, Mississippi, S.C. Runoffs

Credit unions are supporting dozens of candidates in Tuesday’s elections, including primaries in Colorado, Maryland, New York, Oklahoma and Utah, and runoffs in Mississippi and South Carolina. Candidates are supported by CUNA, leagues and the Credit Union Legislative Action Council (CULAC), the CUNA/League political action committee (PAC).

in Legislative & Political News
Jersey City Payroll Tax Measure Passes Assembly

The State Assembly Thursday approved by a 46-28-0 vote a bill (A4163) to allow municipalities with populations over 200,000 to impose a 1% employer payroll tax.

in Legislative & Political News
Supreme Court Ok’s Amex Anti-Steering Rules

The Supreme Court on Monday ruled that American Express can continue its anti-steering policy that bars its merchants from telling customers they prefer one credit card brand over another. The lawsuit was originally brought by the Justice Department and 17 states in 2010, which argued that Amex's merchant rules deter competition and result in higher fees for consumers.

in Legislative & Political News
CFPB Structure Is Unconstitutional, U.S. District Court Rules

A U.S. District Court judge for the Southern District of New York ruled Thursday that the Consumer Financial Protection Bureau’s (CFPB) structure is unconstitutional. The ruling contradicts a previous ruling by the D.C. Circuit Court of Appeals in an unrelated case.

in Legislative & Political News
CUNA’s Nussle, Donovan, Eurgubian Meet with NCUA’s McWatters

CUNA President/CEO Jim Nussle, Chief Advocacy Officer Ryan Donovan and Deputy Chief Advocacy Officer Elizabeth Eurgubian met with NCUA Chairman J. Mark McWatters Monday to discuss credit union issues, most notably regulatory relief and ways it can be achieved.

in Compliance & Regulatory News
CUNA Engaged with Senate Regulatory Relief Hearing, RBC Bill

CUNA will be engaged with a Senate Banking Committee hearing Tuesday on ways to increase consumer access to capital, the first Senate hearing on regulatory relief proposals following the enactment of S. 2155. Titled “Legislative Proposals to Increase Access to Capital,” the hearing is scheduled to begin at 10 a.m. and will be streamed live.

in Legislative & Political News
Donovan op-ed: CFPB could help consumers by working with CUs

Consumer Financial Protection Bureau (CFPB) regulations should be appropriately tailored and based on data, CUNA Chief Advocacy Officer Ryan Donovan wrote in a Credit Union Journal op-ed that appeared Friday. Donovan said the passage of the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155) is an important step, but credit unions need more relief from the Bureau.

in Compliance & Regulatory News
CUNA Reaffirms Call for CFPB to Conduct Extensive Review of Regulations

The Consumer Financial Protection Bureau (CFPB) should conduct an extensive review of the regulations under its jurisdiction, CUNA wrote to the Bureau Friday. CUNA sent a copy of its comprehensive white paper to the Bureau in response to its request for information (RFI) on inherited regulations and inherited rule-making authorities.

in Compliance & Regulatory News
Momentum Building for Next Step After S. 2155 a Win, Nussle tells Washington Examiner

Following the years of effort it took for the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155) to be constructed, introduced and signed into law, CUNA President/CEO Jim Nussle said credit unions are continuing to build on that momentum toward additional relief. In an interview with the Washington Examiner this week, Nussle spoke about achieving regulatory relief in today’s climate, the future of the credit union movement and more.

in Legislative & Political News
Picatinny FCU Recognized as Big Supporter by New Jersey Hills Paper for its Donation to the Interfaith Food Pantry

Picatinny Federal Credit Union donated more than 650 pounds of food and a $2,000 check to the Interfaith Food Pantry. This spring the credit union hosted the "Pay It Forward Food Drive," which was supported generously by credit union members and employees.

The local New Jersey Hills paper recognized Picatinny FCU on its "Big Supporter" page on June 20. 

in Credit Union News
CUNA Files Appellate Court Brief in ADA Lawsuit

CUNA filed a brief with the U.S. Court of Appeals for the Fourth Circuit in Griffin v. DOL FCU Wednesday, its latest legal advocacy effort to defend credit unions facing threats due to uncertainty regarding how the Americans with Disabilities Act (ADA) applies to Web sites. A judge in the Eastern District of Virginia dismissed the lawsuit in February, and now that it has reached the appellate level, a decision will provide a binding precedent for the Fourth Circuit.

in Legislative & Political News
103 Members of Congress Sign ADA Letter to Attorney General Sessions, 4 From NJ

One hundred and three members of Congress signed a CUNA/League-supported letter  submitted Wednesday to Attorney General Jeff Sessions calling for the Department of Justice (DOJ) to issue Web site standards for compliance with the Americans with Disabilities Act (ADA). Credit unions around the country are facing legal threats due to uncertainty with how the ADA applies to Web sites, and CUNA has made finding a solution a top advocacy priority.

in Legislative & Political News
Senate Appropriations Committee Passes FSGG Bill with Full CU Funding

The Senate Appropriations Committee passed the Financial Services and General Government (FSGG) Act for Fiscal Year 2019 Thursday, a bill that includes several CUNA/League-supported provisions. Most importantly, it contains funding for several programs used by credit unions.

in Legislative & Political News
Field-of-Membership Rule Changes Provide More Flexibility and Consumer Choice

ALEXANDRIA, Va. – The National Credit Union Administration (NCUA) Board held its sixth open meeting of 2018 at the agency’s headquarters today and unanimously approved two items: a final rule amending the agency’s regulations governing its chartering and field-of-membership rules with respect to applicants for a community charter approval, expansion, or conversion and a final rule to provide members of federally insured credit unions with greater transparency when those credit unions seek voluntary mergers.

in Compliance & Regulatory News
League Welcomes NJ Delegation Support of U.S. House ADA Letter

U.S. Rep’s Leonard Lance (R-7), Frank LoBiondo (R-2), Tom MacArthur (R-3) and Bill Pascrell (D-9) signed on to the Budd-Correa colleague letter to Attorney General Jefferson Sessions regarding the Americans with Disabilities Act (ADA) Web site accessibility guidelines.

in Legislative & Political News
NCUA to Vote on FOM Rule Today

The NCUA board will be briefed on the status of the agency’s member business loans final rule, among other items, at its board meeting today. The meeting is scheduled to begin at 10 a.m. and will be streamed on NCUA.gov.

in Compliance & Regulatory News
Senate Votes Down CUNA-Opposed Rescissions Bill

CUNA wrote to Senate leadership Wednesday in opposition to a bill that would rescind $141 million from the Treasury’s Community Development Financial Institutions (CDFI) Fund. The Senate voted down the legislation Wednesday afternoon by a 48 to 50 vote. 

in Legislative & Political News
CUNA Supports Senate FSGG Bill with Full CDFI Funding

The Senate Appropriations sub-committee on financial services and general government (FSGG) passed its fiscal year 2019 bill Tuesday, which contains CUNA-supported full funding for the Treasury’s Community Development Financial Institutions (CDFI) Fund. CUNA and the state leagues have strongly supported full CDFI funding and successfully secured full funding during last year’s appropriations negotiations.

in Legislative & Political News
May 2018 NCUA Board Meeting Video Available

ALEXANDRIA, Va. – The video recording of the May 24, 2018, open meeting of the National Credit Union Administration (NCUA) Board is now available on the agency’s Web site.

in Industry News
Rodney Hood Nominated for NCUA Board

President Donald Trump nominated Rodney Hood to serve on the NCUA board in the seat currently held by board member Rick Metsger.

in Legislative & Political News
CUNA Engaged with Senate FSGG Markups This Week

CUNA will be engaged as Senate appropriators markup financial services and general government (FSGG) appropriations legislation for fiscal year 2019 this week, paying close attention to allocations for several important credit union funds, including the Treasury’s Community Development Financial Institutions Fund and NCUA’s Community Development Revolving Loan Fund.

in Legislative & Political News
CUNA: CFPB Should Streamline Regs, Exempt CUs

"The Consumer Financial Protection Bureau should look closely at its rules and streamline regulations or exempt credit unions entirely," CUNA wrote to the Bureau. CUNA submitted a copy of its comprehensive white paper to the Bureau in response to its request for information on adopted regulations and new rule-making authority.

in Compliance & Regulatory News
Federal Trade Commission Begins New Operation to Combat Scams on Small Businesses

At the Federal Trade Commission (FTC), our mission is to protect consumers, including small business owners. That’s why, when we see scammers taking money from small businesses, we step in. The FTC announced Operation Main Street: Stopping Small Business Scams, a coordinated law enforcement and education effort with state and federal partners, as well as the Better Business Bureau (BBB),to stop scams that target small businesses.

in Industry News
Griffith named Foundation Marketing and Communications Director

MADISON, Wis. – The National Credit Union Foundation (the Foundation) has announced the addition of Brian Griffith, CUDE, as the new Director of Marketing and Communications, effective July 16, 2018. Griffith will lead all the Foundation’s marketing, communications and public relations strategy and execution.

in Industry News
Compliance: S. 2155 changes to HMDA reporting

CUNA’s compliance staff will be taking in-depth looks at regulatory relief provisions contained in the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155). A recent CompBlog post focuses on changes to the Home Mortgage Disclosure Act (HMDA).

in Compliance & Regulatory News
Collections Workshop Engages and Informs

The New Jersey Credit Union League (NJCUL) held a Collections Workshop live at the League Office and via Zoom on June 12, 2018.

in League News
Kathy Kraninger Nominated to Serve as CFPB Director

President Donald Trump nominated White House budget official Kathy Kraninger to lead the Consumer Financial Protection Bureau. CUNA President/CEO Jim Nussle said, "CUNA, leagues and credit unions look forward to working with the new director and will continue their push for regulatory relief."

in Compliance & Regulatory News
CU-support Candidates Win in Nevada Primaries

Credit union-backed candidates saw success around the country in Tuesday’s primaries across five states, including in two notable races in Nevada. CUNA, the Nevada Credit Union League and the Credit Union Legislative Action Council (CULAC), CUNA's political action committee, backed the candidates.

in Legislative & Political News