Credit unions consistently serve a higher share of households living from paycheck to paycheck than banks, America’s Credit Unions Head of Emerging Issues and Deputy Chief Economist Curt Long explains in the latest Economic Update video. The Federal Reserve’s Consumer Finance Survey shows just under 40% of households that use credit unions as their primary …
The NCUA released its annual Minority Depository Institution (MDI) Report to Congress, detailing MDIs’ performance and the agency’s actions to support their efforts. The report highlights that MDI credit unions expanded membership and services in 2023 which in turn has promoted economic growth and financial security in underserved communities. According to the report, the number …
MDI credit unions promote economic growth, financial security in underserved communities Read More »
America’s Credit Unions President/CEO Jim Nussle wrote to Sen. Bill Hagerty, R-Tenn., offering support for the Consumer Financial Protection Bureau Accountability Act, which would ensure accountability for the CFPB by requiring that its funding be appropriated by Congress. “Currently, the Federal Reserve is required to provide whatever funding that the CFPB requests, within certain limits, …
Nussle backs Senate bill to fund CFPB through appropriations process Read More »
America’s Credit Unions opposes the American Privacy Rights Act (APRA), it wrote to House Energy and Commerce leaders Tuesday prior to committee markup of the bill. America’s Credit Unions President/CEO Jim Nussle applauded the bipartisan efforts to craft comprehensive legislation but noted major credit union concerns had not been addressed from discussion draft to the …
America’s Credit Unions opposes data privacy bill prior to markup Read More »
Ahead of floor consideration for the Fiscal Year 2025 State, Foreign Operations, and Related Programs bill, America’s Credit Unions President/CEO Jim Nussle wrote to Speaker of the House Mike Johnson, R-La., and Minority Leader Hakeem Jeffries, D-N.Y., and members of the House of Representatives to advocate for a FY2025 $50 million funding level for the …
Nussle advocates for CDP, WOCCU funding ahead of bill consideration Read More »
Credit union-supported candidates saw success in Tuesday’s elections in Colorado, New York, Utah, and South Carolina. America’s Credit Unions PAC and state Leagues supported 34 candidates, with one loss and Utah’s 2ndCongressional District Republican primary yet to be called. In Colorado, Republican Jeff Heard won his primary with 41.3% of the vote (compared to opponents’ …
Credit union supporters win Tuesday in Colo., N.Y., S.C, Utah Read More »
The CFPB Tuesday issued an interim final rule to extend compliance deadlines for its small business lending rule. Implementation of the rule had been stayed by a federal court in Texas pending the U.S. Supreme Court’s decision in CFPB v. CFSA, which required the CFPB to extend the rule’s compliance deadlines to compensate for the …
CFPB extends compliance dates for small biz lending rule Read More »
The Eastern District Court of New York Tuesday issued an order rejecting a $30 billion settlement between U.S. merchants, Visa, Mastercard, and other financial institutions, according to reports. The settlement involves a lawsuit dating back to 2005 over credit card interchange fees and would have resulted in Visa and Mastercard capping credit card interchange fees …
N.Y. court rejects settlement in interchange lawsuit Read More »
