September, 2024 - America's Credit Unions

AML/CFT proposal missing guidance, St. John says on podcast

News / September 17, 2024 / 2 minutes of reading

The risk assessment in an anti-money laundering/counter financing of terrorism (AML/CFT) proposed rule creates a new regulatory requirement, America’s Credit Unions Director of Federal Compliance said recently on Ballard Spahr’s “Business Better” podcast. The Financial Crimes Enforcement Network’s proposal would explicitly require financial institutions to establish AML/CFT programs with a mandatory risk assessment process, among …

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Where’s Waldo? Filling Board Vacancies

Compliance / September 17, 2024 / 3 minutes of reading

Are you having a hard time keeping track of THAT board member? You know the one I’m talking about. Does he seemingly wander off into random parts of the world wearing a long sleeve, red and white striped shirt with a matching beanie? I’m very aware of this crisis. You have a recurring monthly meeting …

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The Capitol Dome at the U.S. Capitol Building

This Week: Congress in D.C., NCUA board to meet

News / September 16, 2024 / 1 minute of reading

Funding for the federal government is scheduled to expire Sept. 30. House Republicans had announced a continuing resolution but pulled it from the House floor without a vote last week. House leadership hopes to have the chamber consider the measure this week. The Senate Banking Committee holds a hearing Wednesday on the macroeconomic impacts of …

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Credit unions advocate for priorities as Congress plans for September

News / September 16, 2024 / caucus / 1 minute of reading

Credit union advocates welcomed members of Congress back to Washington, D.C., holding meetings and events in conjunction with America’s Credit Unions’ Congressional Caucus. As Congress faces government funding deadlines and limited time to pass bills before year-end, credit unions were at the table with policymakers and staff – demonstrating why they should address credit union …

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Credit union tax status unmentioned in tax hearing

News / September 13, 2024 / 1 minute of reading

The credit union tax status was not discussed during the Senate Finance Committee hearing on tax avoidance Thursday, but the Tax Foundation witness did reference a report that challenges the credit union tax status in a footnote of their written testimony. In advance of the hearing, America’s Credit Unions President/CEO Jim Nussle wrote a comprehensive …

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Credit unions continue to highlight priorities for remainder of 118th Congress

News / September 13, 2024 / caucus / 1 minute of reading

Credit unions marked another day of successful meetings on Capitol Hill Thursday, meeting with Senate and House officials to share both concerns and ideas for future opportunities. The visits took place as America’s Credit Unions Congressional Caucus brought credit unions and state leagues together in Washington, D.C. Additional league and credit union visits are …

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NCUA to vote on insurance rule simplification, fair hiring final rules Sept. 19

News / September 13, 2024 / ncua / 1 minute of reading

The NCUA board will vote on two final rules and receive a quarterly update on the National Credit Union Share Insurance Fund at its Sept. 19 meeting. The meeting will be livestreamed on NCUA.gov starting at 10 a.m. Eastern. The complete agenda is: America’s Credit Unions’ legacy organizations supported the simplification of insurance rules proposal, …

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Defending the credit union tax status, highlighting its consumer impact

News / September 12, 2024 / 3 minutes of reading

Protecting the credit union tax status is at the forefront as the Senate Finance Committee holds the first of what will likely be many tax hearings with key provisions of the Tax Cuts and Jobs Act scheduled to expire at year end 2025. America’s Credit Unions President/CEO Jim Nussle wrote to the Senate Finance Committee …

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Sellers challenges Caucus attendees to focus on building community

News / September 12, 2024 / caucus / 3 minutes of reading

“How far have we come?” and “Where do we go from here?” Keynote speaker Bakari Sellers tackled those two questions with attendees Wednesday as he wrapped up the Congressional Caucus. The author, CNN analyst, and youngest-ever elected official in South Carolina history said those questions were essential to progress. “The unique part about the work …

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Members of Congress encourage ‘strong, unified voice’ from credit unions

News / September 12, 2024 / caucus / 5 minutes of reading

Multiple members of Congress addressed the audience at the 2024 Congressional Caucus Wednesday, following two previous days of members and other policymakers taking the stage. Rep. Pete Aguilar, D-Calif., who also serves as House Democratic Caucus Chair, spent eight years working at a credit union in California, which he credited for teaching him how to …

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September 2024