Author name: America's Credit Unions

This week: Congress in session; America’s Credit Unions monitors several primaries

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This week, the House and Senate are back in session and America’s Credit Unions is monitoring several primaries happening across six states tomorrow. America’s Credit Unions PAC is supporting 16 candidates in Washington, D.C., Iowa, Montana, New Jersey, New Mexico, and South Dakota.   Of note, in New Jersey’s Democratic Senate primary, Rep. Andy Kim, D-N.J., …

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WCUC keynote speakers to discuss digital connection, innovation 

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Two of the three keynote speakers for the World Credit Union Conference (WCUC), happening July 21-24 in Boston, previewed their speeches for the event.  Award-winning speaker and author Erica Dhawan discussed ways to foster connections in a digital space in a recent post for America’s Credit Unions. Dhawan noted that today 70% of interactions occur …

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Comment deadlines approaching for NCUA, CISA, FHFA

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Comments on several regulatory proposals affecting credit unions are due in the coming weeks, including to NCUA on records preservation, and the agency’s annual regulatory review: June 3: June 28: July 15:

CFPB Building

CFPB issues request for information on mortgage closing costs

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The CFPB issued a request for information Thursday regarding fees charged by mortgage providers and related settlement services. According to the bureau, it “wants to understand why closing costs are increasing, who is benefiting, and how costs for borrowers and lenders could be lowered,” noting such fees may limit the ability of lenders to offer …

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NCUA issues FAQs on share insurance coverage for cryptocurrency 

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The NCUA has added a new financial technology and digital assets section to its website. The webpage includes frequently asked questions (FAQs) about share insurance coverage and custody for cryptocurrencies and digital assets, as well as information about the agency’s Financial Technology Team.  Of note, the FAQs clarify that the National Credit Union Share Insurance …

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CIP rule should not be amended to allow for partial SSN collection

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America’s Credit Unions opposes a change to the Customer Identification Program (CIP) rule to allow the partial collection of a social security number (SSN) for identity verification purposes.  Credit union concerns are outlined in a comment letter to the Financial Crimes Enforcement Network (FinCEN) sent Tuesday, in response to FinCEN’s request for comments related to …

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NCUA announces MDI webinar 

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The NCUA Tuesday announced it will host a webinar June 18 to highlight minority depository institutions (MDIs) and the role MDIs play in expanding access to financial services. The webinar will also discuss how MDIs promote economic growth and financial inclusion.  The webinar is scheduled to begin at 2 p.m. Eastern and will last one …

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NCUA approves regulatory review 

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The NCUA Board Thursday unanimously approved a voluntary regulatory review. The agency is requesting comment to help identify NCUA regulations that are “outdated, unnecessary, or unduly burdensome on federally insured credit unions.”  The agency noted that it is not required by law to conduct the review, as the law applies to federal bank regulators, but …

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