The CFPB released its final rule on credit card late fees Tuesday, reducing the “typical” fee to $8. The rule applies to card issuers with more than one million open accounts and will be effective 60 days after publication in the Federal Register. “The CFPB’s misguided final rule on credit card late fees clearly demonstrates …
Nussle: Final credit card late fee rule dismantles protections, limits access Read More »
Reps. French Hill, R-Ark., and Young Kim, R-Calif., addressed the 2024 Governmental Affairs Conference (GAC) Tuesday, expressing their support for the work credit unions do, and pledging to push back against government overreach. Hill, vice chairman of the House Financial Services Committee and chair of the Subcommittee on Digital Assets, Financial Technology and Inclusion, said …
Reps. Hill, Kim pledge to support credit unions against overreach Read More »
NCUA Board Member Tanya Otsuka, and U.S. Assistant Attorney General for Civil Rights Kristen Clarke addressed the 2024 Governmental Affairs Conference (GAC) Tuesday, where they outlined their priorities for their respective offices. “My work at NCUA will be guided by a commitment to a safe and sound financial system of cooperative credit that ensures members …
NCUA’s Otsuka, DOJ’s Clarke share goals, approach at GAC Read More »
Governmental Affairs Conference (GAC) attendees heard from members of Congress, policymakers, and a former U.K. Prime Minister Tuesday in Washington, D.C. America’s Credit Unions President/CEO Jim Nussle conducted a fireside chat with the Rt. Hon. Theresa May, where the former Prime Minister and current member of Parliament shared how service has shaped her career and …
Theresa May, policymakers lead Tuesday; Shaun White, Hill visits Wednesday Read More »
Regulators’ focus on eliminating so-called “junk fees” could deprive consumers of much-needed financial services, including access to affordable credit, according to a Tuesday panel discussion. The CFPB’s focus on fees is almost entirely political, panelists said. Participating in the discussion were Jim Hunsanger, chief risk officer at Michigan State University Federal Credit Union; Leah Dempsey, …
‘Junk’ fees, regulatory challenges, covered in GAC breakouts Tuesday Read More »
The CFPB Tuesday issued its final rule to drastically reduce the safe harbor threshold credit card issuers can charge for late payments to $8. While the rule only applies to issuers that have over 1 million open accounts and the bureau claims the rule will have no impact on smaller issuers such as credit unions, …
STATEMENT CFPB caps credit card late fees safe harbor at $8 Read More »
Credit union wins require coordinated advocacy from the entire movement and at every level, America’s Credit Unions President/CEO Jim Nussle told attendees at the 2024 Governmental Affairs Conference (GAC) Monday. Nussle addressed the GAC for the first time as the leader of the new America’s Credit Unions, and promised the organization will fight for and …
Nussle: America’s Credit Unions exists to empower credit unions Read More »
America’s Credit Unions Chief Advocacy Officer Carrie Hunt outlined how the new organization will advocate for and advance an environment where credit unions thrive during her inaugural speech at the Governmental Affairs Conference (GAC) Monday afternoon. “Together, we need to make that happen,” Hunt said. “Advocacy is part science, part art. It’s engagement, it’s relationship …
To kick off Monday’s sessions at the 2024 Governmental Affairs Conference (GAC), America’s Credit Unions Transition Board of Directors Chair Brian Schools and Vice Chair Lisa Ginter discussed the transformation to America’s Credit Unions, the new organization’s mission and vision, and the role of the Transition Board of Directors. Ginter, CEO of CommunityAmerica Credit Union, …
Board leaders spotlight America’s Credit Unions’ mission, vision at GAC Read More »
