Author name: America's Credit Unions

FHFA announces conditional approval of Freddie Mac second mortgage purchase pilot

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The Federal Housing Finance Agency (FHFA) announced its conditional approval for Freddie Mac to engage in a limited pilot to purchase certain single-family closed-end second mortgages. America’s Credit Unions Regulatory Advocacy Senior Counsel Amanda Smith wrote in support of the pilot in a May comment letter, noting it is in the public interest and advances …

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Fed extends comment deadline for Fedwire, NSS proposal

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The Federal Reserve announced Friday an extension of the comment deadline for its proposals expanding operating days of Fedwire Funds Service and National Settlement Service. America’s Credit Unions requested the Fed allow additional time for comments to allow stakeholders to properly gather data and prepare comments and issued a Regulatory Comment encouraging credit unions to …

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Credit unions encouraged to take CISA critical infrastructure survey

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Credit unions are encouraged to provide feedback to the Department of Homeland Security’s Cybersecurity and Infrastructure Agency (CISA) on how they can best support critical infrastructure organizations. CISA is calling for credit unions to participate in the Critical Infrastructure Pilot Customer Survey. Financial institutions—including credit unions of all sizes—are considered critical infrastructure in the U.S. …

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Latest estimates show credit union loans increased 0.4%

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Credit union loans outstanding increased 0.4% in April, compared to a -0.03% decline in March of 2024 and a 0.6% increase in April of 2023, according to America’s Credit Unions’ latest Monthly Credit Union Estimates (MCUEs). The estimates are based on information from a monthly sample of credit unions and are revised whenever more complete …

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Credit union-backed candidates continue to secure primary wins 

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Seven of eight credit union-backed candidates won their primaries in Virginia, Oklahoma, and Georgia on Tuesday.  Up next, America’s Credit Unions PAC is supporting five candidates in Colorado and 22 candidates in New York in primaries happening Tuesday, June 25.   Credit union-backed candidates have a success rate over 98% in the 2024 cycle. America’s Credit …

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Senate bill introduced to stop, study Fed debit interchange proposal

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Sen. Ted Budd, R-N.C., introduced the credit union-supported Secure Payments Act Tuesday, which would halt implementation of the Federal Reserve’s debit interchange proposal until its impact can be studied. America’s Credit Unions strongly opposes the Fed’s proposal and has called for it to be withdrawn. “Credit unions need access to as many resources as possible …

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FinCEN reminds FIs to remain alert on elder financial exploitation 

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The Financial Crimes Enforcement Network (FinCEN) reminds financial institutions (FIs) to remain vigilant in identifying and reporting suspicious activity related to elder financial exploitation (EFE).   EFE-related losses affect personal savings, checking accounts, retirement savings, and investments, and can severely impact the well-being and financial security of victims. In addition to filing a Suspicious Activity Report, …

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