August 2024

Register now for NCUA webinar tackling membership expansion, retention

News / / / 1 minute of reading

Credit unions can register to attend an NCUA webinar, titled “How to Retain and Expand Membership,” happening Aug. 22 at 2 p.m. Eastern.   During the hour-long event, Pennsylvania State Employees Credit Union Vice President of Strategic Growth, Marketing, and Relationship Management Adam Stewart and State Department Federal Credit Union Chief Retail Officer Jeff Margeson will cover …

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America’s Credit Unions keeps industry perspective top-of-mind for lawmakers

News / / 1 minute of reading

Since March, an America’s Credit Unions representative has testified before Congress on behalf of the credit union industry four times – the most appearances by any financial trade organization. Great Lakes Credit Union Chief Operating Officer Elizabeth Osborne testified before the House Financial Services Committee on financial services technology just before lawmakers returned to their districts …

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Credit Card Liability Limits, How Card Issuers Are the Big Loser

Compliance / / , , / 4 minutes of reading

Similarly to Regulation E and the limitations on a consumer’s liability for an unauthorized electronic fund transfer, Regulation Z places limits on a cardholder’s liability for unauthorized use of a credit card. Unfortunately for card issuers, these limits are much more expansive than Regulation E. What is Unauthorized Use? Regulation Z, section 1026.12 limits a …

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Credit union supporters win in primaries this week

News / / 1 minute of reading

With primaries in Kansas, Michigan, Missouri, and Washington on Tuesday, credit union-backed candidates won.   Several key updates to note include:  Credit union-backed candidates have a success rate over 98% so far in the 2024 cycle. Election results are available on America’s Credit Unions’ Credit Union Elections Hub and updated throughout the primaries and general election. 

Hunt talks ins and outs of advocacy in latest ‘Sidebar’ video

News / / 1 minute of reading

America’s Credit Unions Chief Advocacy Officer Carrie Hunt discusses how credit unions get things done in challenging political environments in her latest Sidebar video. It was sent this week as part of the Your Capitol Connection newsletter covering the latest in credit union advocacy. Hunt touches on the joint incentive-based compensation proposed rule, Sen. Elizabeth …

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Credit union recess advocacy continues with Rep. Cleaver meeting

News / / / 2 minutes of reading

Missouri credit union leaders met with Rep. Emanuel Cleaver, D-Mo., in his 5th Congressional District office this week. Credit unions and Leagues around the country are scheduling in-district meetings during the August recess. Cleaver—ranking member of the House Financial Services Subcommittee on Housing and Insurance—met with CommunityAmerica Credit Union, Holy Rosary Credit Union, and United …

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Compliance Blog examines CFI definition, whistleblowers, ad requirements

News / / 1 minute of reading

America’s Credit Unions’ Compliance Team continues to update the Compliance Blog every Tuesday and Thursday. The latest entries cover recent questions regarding whistleblower programs, open and closed-end advertising requirements, and the Children’s Online Privacy Protection Act (COPPA). Recent blog posts include: Subscribe to receive email updates from the Compliance Blog.  

New bills expanding EFTA liability would impose severe costs on credit unions

News / / 2 minutes of reading

Credit unions are concerned with—and strongly oppose—legislation to amend the Electronic Fund Transfer Act (EFTA), America’s Credit Unions President/CEO Jim Nussle wrote to House and Senate leaders Monday. The legislation, he added, would shift losses to credit unions and other financial institutions at the same time they are spending more money than ever to fight …

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When are Credit Unions NOT Community Financial Institutions?

Compliance / / 4 minutes of reading

I cannot think of a more illustrative example of a “Community Financial Institution” (CFI) than a credit union. A credit union’s field of membership is built around a specific community of individuals and its owner-members are representatives of that community. Unfortunately, the Federal Home Loan Bank Act (FHLB Act) fails to recognize credit unions in …

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Nussle: Banks selling to credit unions is worthwhile collaboration

News / / 2 minutes of reading

Community financial institutions working together for the benefit of the people they serve – including bank sales to credit unions –  is something Congress should encourage, America’s Credit Unions President/CEO Jim Nussle wrote in an American Banker op-ed this week. Nussle said community banks often sell to credit unions to ensure a healthy financial institution …

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