The NCUA’s 2024 Diversity, Equity, and Inclusion (DEI) Summit takes place July 9-11 in Minneapolis. Participants are invited to learn and share best practices, workshop around industry-specific challenges, and network with DEI professionals. The 2024 DEI Summit website contains hotel booking information; the agency notes to watch for more updates and details in the coming …
The CFPB’s proposal prohibiting certain fees for instantly declined transactions has a broad unfair, deceptive, and abusive acts or practices (UDAAP) approach that concerns America’s Credit Unions, the organization wrote in comments filed with the bureau Monday. The proposal would prohibit covered financial institutions from charging fees, such as nonsufficient funds (NSF) fees, when consumers …
America’s Credit Unions joined with several organizations to urge the CFPB to abandon its request for comment under the Paperwork Reduction Act (PRA) regarding a proposed new information collection on auto lending, noting the bureau lacks legal authority to collect the information outlined in the proposal and “grossly underestimates the burden of the information collection.” …
America’s Credit Unions urges CFPB to retract auto loan data collection proposal Read More »
Last week was the 2024 Regulatory Compliance School for America’s Credit Unions. It was my first time attending in person and presenting. I have to say it was spectacular. I was able to speak with so many compliance professionals and hear other presentations as well. It was a great time, and I want to say …
The NCUA Monday released its 2023 annual report to underscore its initiatives and accomplishments from last year. In its press release, the agency noted the report highlights initiatives related to cyber resiliency, economic headwinds, financial security and economic equity, and investment in agency employees. The report details the agency’s final rules on member expulsion and …
The House and Senate begin a two-week recess after coming to an agreement on funding several areas of the government through Sept. 30. America’s Credit Unions, Leagues, and credit unions will engage with policymakers over the recess, and credit unions are encouraged to meet with elected officials in their home districts. Priorities include: In addition, …
This week: Congress in recess, comments due to CFPB Read More »
Federally insured credit unions (FICUs) experienced growth in loans and the share of credit unions with positive net income increased over 2023, according to Q4 2023 state-based data released by the NCUA. The data also revealed that delinquencies rose, while assets, shares and deposits declined. Additionally, 87% of federally insured credit unions had positive year-to-date …
NCUA data reveals share of credit unions with positive net income increased in 2023 Read More »
The government funding bill released by lawmakers Thursday contains several priorities for credit unions, in addition to America’s Credit Unions-supported language related to oversight of the Treasury’s Community Development Financial Institutions (CDFI) Fund and Small Business Administration (SBA). Federal government funding is currently scheduled to lapse after 11:59 p.m. Eastern Friday; this legislation would fund …
Government funding bill addresses credit union priorities Read More »
America’s Credit Unions President/CEO Jim Nussle wrote to the House Appropriations Subcommittee on Financial Services and General Government and the Senate Finance Committee ahead of its hearings on the president’s fiscal year 2025 budget proposal. In the letter to the Senate Finance Committee, Nussle reiterated the importance of the credit union federal tax exemption. He …
Nussle highlights benefits of tax status, funding levels in FY25 budget letters Read More »
