August 2024

Engaging with lawmakers and candidates

While Congress is out for the August recess and lawmakers are in their districts, America’s Credit Unions, state Leagues and credit unions are actively engaging with lawmakers and candidates in a variety of ways.   The Democratic National Convention is underway this week in Chicago. Similar to the Republican National Convention earlier this summer in Milwaukee, …

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economic charts

Latest credit union estimates show loans grew 0.5% in June  

Credit union loans outstanding increased 0.5% in June, compared to a 0.5% increase in May of 2024 and a 0.7% increase in June 2023, according to America’s Credit Unions’ latest Monthly Credit Union Estimates. Estimates are based on information from a monthly sample of credit unions and are revised whenever more complete data is available.  …

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ICYMI: Paul Ryan, Bakari Sellers announced as Caucus keynotes 

There is still time to register for America’s Credit Unions Congressional Caucus – happening in Washington, D.C., September 8 – 11. The event will feature discussions on key legislative and regulatory issues affecting credit unions and feature insights from keynote speakers Paul Ryan and Bakari Sellers.   Paul Ryan, 54th Speaker of the U.S. House of Representatives …

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Columns

Urging FCC for CU parity in Rural Digital Opportunity Fund

Credit unions should have equal opportunity to issue letters of credit (LOCs) when it comes to the Federal Communications Commission’s (FCC) Rural Digital Opportunity Fund. America’s Credit Unions addressed needed parity with banks within the FCC broadband funding programs in a letter to the commission sent Monday. There is a current requirement for fund recipients …

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NCUA hosting webinars on DEI, membership expansion this week 

The NCUA is hosting two webinars this week: one tackles expanding and maintaining membership, and the other is the second installment in a two-part workshop reviewing how to develop a diversity, equity, and inclusion (DEI) strategic plan.   “Sustaining DEI Through Developing Your DEI Strategic Plan Part 2” takes place Wednesday at 1 p.m. Eastern. Learn …

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Freezing Accounts

It’s really hot outside, so I decided to think of cool things to feel cooler. So far, I’ve thought of ice cream, snow, and even The Fonz. Nothing brought my temperature down quite like when I thought of freezing accounts. Before I develop hypothermia, let’s discuss the authority to freeze accounts and certain limitations Impermissible …

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New Compliance Blog posts examine OFAC ‘hits,’ provisional credit 

Check out America’s Credit Unions’ updated Compliance Blog every Tuesday and Thursday. The latest entries from the Compliance Team cover provisional credit requirements, cardholder liability limits, and more.    Recent entries include:  Subscribe to receive email updates from the Compliance Blog.  

The Capitol Dome at the U.S. Capitol Building

This Week: Primaries in Alaska, Florida, Wyoming; NCUA webinars

Congress is out on August recess this week, but credit unions are encouraged to continue meetings with legislators in home districts. Be sure to touch base with your state League and America’s Credit Unions about those opportunities.  Tuesday brings another round of state primary elections.  America’s Credit Unions PAC and state Leagues are involved in …

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CFPB Building

CFPB issues updated guide for small business lending data rule

The CFPB issued its 2025 Small Business Lending Filing Instructions Guide Friday. It updates compliance dates used in the filing instructions to correspond with the new compliance dates for the small business lending rule.  The CFPB issued an interim final rule in June extending compliance dates of the small business lending rule due to a …

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