March 2024

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SBA direct lending would harm small businesses, community financial institutions

News / / 2 minutes of reading

America’s Credit Unions President/CEO Jim Nussle this week wrote to the Senate and House Small Business Committees to voice concerns about granting the Small Business Administration (SBA) new direct lending abilities. Both Committees held oversight hearings with SBA Administrator Isabel Guzman on Wednesday. “Direct lending by the SBA would drive up program costs and disincentivize 7(a) …

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Nussle offers support for bill to prohibit SBA direct lending 

News / / 1 minute of reading

America’s Credit Unions President/CEO Jim Nussle wrote to Sen. Tim Scott, R-S.C., to express the organization’s support for the Protecting Access to Credit for Small Businesses Act. The bill aims to prevent the Small Business Administration (SBA) from making direct loans through the 7(a) program.  Nussle noted the (7)a program “epitomizes a successful public-private partnership, …

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Hunt to Congress: Credit unions deliver meaningful impact

News / / , / 2 minutes of reading

America’s Credit Unions Chief Advocacy Officer Carrie Hunt followed the hundreds of congressional meetings at the 2024 Governmental Affairs Conference with a message to Congress highlighting credit unions’ meaningful impact despite concerning proposals and misleading bank attacks. “Our top advocacy priority is protecting the interchange system from bad proposals in Congress and the Federal Reserve,” …

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Columns

Hunt: Interchange attacks hurt everyone 

News / / / 1 minute of reading

In a new op-ed for CUInsight, America’s Credit Unions Chief Advocacy Officer Carrie Hunt called attacks on interchange “misguided and misdirected.”   “For over a decade, retailers have turned interchange fees into a scapegoat to distract consumers from corporate greed. While big box retailers continue spewing their false promises, America’s Credit Unions is committed to fighting …

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Liquidity

Compliance / / 4 minutes of reading

Many of you probably saw the NCUA Express notice which was sent to credit unions last week announcing an upcoming webinar on liquidity.  As you know, a credit union’s liquidity risk is a supervisory priority for NCUA because of the increased potential that liquidity stressors have on a credit union’s earnings and capital.  Earlier this …

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Credit union-backed candidates win races in Illinois, Ohio

News / / / 1 minute of reading

America’s Credit Unions PAC was involved in 24 primary elections in Illinois and Ohio Tuesday, with credit union-backed candidates winning all 24 races. Rep. Mike Bost, Ill.—supported by America’s Credit Union PAC and the Illinois Credit Union League—won a close Republican primary against challenger Darren Bailey. Additional investments were made in this race to reach …

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Columns

Nussle: Credit unions are working to close housing access gap

News / / / 1 minute of reading

America’s Credit Unions President/CEO Jim Nussle wrote to the House Financial Services Housing and Insurance Subcommittee to provide the credit union perspective ahead of Wednesday’s hearing to examine current challenges for homebuyers.    Nussle highlighted credit unions’ commitment to furthering financial inclusion and the industry’s long history of assisting members with homebuying, financial literacy, and …

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Columns

FOMC maintains current interest rates

News / / 1 minute of reading

The Federal Open Market Committee (FOMC) agreed to maintain the current target range for the federal funds rate between 5.25 to 5.5 percent during its two-day meeting that ended Wednesday. The committee’s statement noted the “economic outlook is uncertain” and the committee “remains highly attentive to inflation risks.” However, the committee “judges that the risks …

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