Author name: America's Credit Unions

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Nussle: Credit unions step up to serve communities

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America’s Credit Unions President/CEO Jim Nussle detailed the credit union perspective on the topic of mergers in conjunction with Wednesday’s House Financial Services Subcommittee hearing to discuss merger policies of the federal banking agencies.  “We have unfortunately seen the negative effects of mergers that reduce choice, reduce competition, and impair the consumer experience,” wrote Nussle. …

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FOMC holds rates steady after May meeting 

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The Federal Open Market Committee (FOMC) agreed to maintain the current target range for the federal funds rate between 5.25 to 5.5% during its two-day meeting that ended Wednesday.    The committee’s statement noted “considering any adjustments to the target range for the federal funds rate, [they] will carefully assess incoming data, the evolving outlook, and …

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Registration open for NCUA DEI summit 

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The NCUA Wednesday announced registration is open for its in-person diversity, equity, and inclusion (DEI) summit. The event, happening July 9-11 in Minneapolis, Minn., is the agency’s fifth DEI summit.  According to the NCUA, “[a]ttendees will explore the value proposition of diversity, equity, and inclusion in the credit union industry and at the NCUA; share …

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Nussle to Ways and Means Committee: Protect the credit union tax exemption

News / / / 2 minutes of reading

America’s Credit Unions President/CEO Jim Nussle wrote to the House Ways and Means Committee ahead of its Tuesday hearing with Treasury Secretary Janet Yellen. In the letter, Nussle called attention to the effectiveness of the Federal Credit Union (FCU) Act and urged the committee to protect credit unions’ tax-exempt status. “The tax-exempt status afforded credit …

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Nussle details how CUs are impacted by FinCEN’s CTA implementation 

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Ahead of Tuesday’s House Small Business Committee hearing to examine the Financial Crimes Enforcement Network’s (FinCEN) implementation of the Corporate Transparency Act (CTA), America’s Credit Unions President/CEO Jim Nussle explained that rules and regulations related to anti-money laundering  and countering the financing of terrorism (AML/CFT) are overly burdensome to credit unions.  Nussle offered strong support …

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Community 1st Credit Union fosters financial well-being in rural Iowa

News / / 3 minutes of reading

Community 1st Credit Union, a financial cooperative tucked away in rural, southeast Iowa, is dedicated to helping members in need and improving their financial wellness. Headquartered in Ottumwa, Iowa, many Community 1st members have an agricultural background and often partner with the credit union to receive the needed funds to run their farming operations. “Most …

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America’s Credit Unions’ Hunt touts the credit union difference in message to the Hill 

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America’s Credit Unions Chief Advocacy Officer Carrie Hunt reiterated key points of the credit union difference in a message sent to lawmakers Monday. The proactive message was sent ahead of the Independent Community Bankers Associations’ hill hikes scheduled for this week.   In the message, Hunt reminded members of the House and Senate of meetings with …

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Majority of small businesses oppose Big Box Bailout bill

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An overwhelming majority of small businesses oppose proposed changes to the credit card interchange system, according to Small Business Payments Alliance (SBPA) research released this week for National Small Business Week. The SBPA is a project of the Electronic Payments Coalition, of which America’s Credit Unions is a member. The survey found: In addition, nearly …

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Columns

FinCEN to host BOI webinar 

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The Financial Crimes Enforcement Network (FinCEN) today will host a webinar on beneficial ownership information (BOI) reporting requirements. The webinar will begin at 2 p.m. Eastern and is available on FinCEN’s YouTube channel.  In February, FinCEN passed a final rule on BOI access to govern who can access BOI and how it can be accessed. …

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