Author name: America's Credit Unions

NCUA releases cybersecurity, credit union system resilience report

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NCUA released its annual Cybersecurity and Credit Union System Resilience Report Monday, summarizing the current cybersecurity threat landscape, highlights the agency’s key cybersecurity initiatives, and outlines the agency’s ongoing efforts to enhance cybersecurity preparedness and resilience within the credit union industry. The Cybersecurity and Credit Union Resilience Report is required by the Consolidated Appropriations Act …

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America’s Credit Unions offers recommendations for NCUA records preservation program

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America’s Credit Unions Regulatory Advocacy Senior Counsel Luke Martone outlined several recommendations for the NCUA’s existing records preservation program requirements, noting that updating the regulations “to address these general issues will go a long way in clarifying regulatory expectations under Part 749.”  The agency issued an advance notice of proposed rulemaking to seek stakeholder comments …

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America’s Credit Unions, Ohio League file brief in Ohio guarantor lawsuit

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A recent decision from the First Appellate District of Ohio rolled back longstanding industry precedent and practice in its decision, which should be overturned, America’s Credit Unions and other organizations wrote in a brief filed Monday with the Ohio Supreme Court. In Huntington National Bank v. Schneider, the groups expressed concerns with the First District’s …

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CRA requirements for credit unions would create costly burdens, no benefits

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Placing Community Reinvestment Act (CRA) requirements on credit unions could reduce access to credit for vulnerable consumers, America’s Credit Unions President/CEO Jim Nussle wrote to Rep. Emanuel Cleaver, D-Mo. Friday. Cleaver—while discussing discrimination in financial services during a recent House Financial Services Committee hearing—has mentioned his support for expanding the CRA to other non-bank entities. …

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This week: House returns, Senate back in districts; America’s Credit Unions monitoring CU priorities

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This week, the House returns to Washington, D.C. while Senate members are back home in their districts. America’s Credit Unions will monitor several hearings of note for credit unions, as well as tomorrow’s primary elections happening in Colorado, New York and Utah.  America’s Credit Unions PAC is supporting three candidates in Utah, five candidates in …

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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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