America’s Credit Unions Letter to House Financial Services Committee and Senate Banking Committee in Response to Bank Attacks
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Nussle meets with NCUA board members, outlines advocacy priorities
America’s Credit Unions President/CEO Jim Nussle and several members of the association’s Advocacy Team met Tuesday with NCUA Vice Chairman Kyle Hauptman and Board Member Tanya Otsuka to advocate for America’s Credit Unions’ policy priorities. “Thank you to NCUA Vice Chairman Hauptman and Board Member Otsuka for taking the time to meet with America’s Credit …
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CDFI Fund webinar to cover application questions
The Community Development Financial Institutions (CDFI) Fund will conduct a webinar next week to help organizations understand the requirements of its revised CDFI Certification Application. The webinar will start at 1:30 p.m. Eastern Jan. 31 and will discuss updates to the Application FAQs, review new materials, and allow participants to ask additional questions. Registration is …
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Fed extends interchange proposal comment deadline to May 12
The Federal Reserve extended the comment deadline on its interchange proposal to May 12, an additional 90 days past the original Feb. 12 deadline. CUNA and NAFCU — prior to the formation of America’s Credit Unions — requested the Fed extend the deadline to give stakeholders adequate time to analyze the data underlying the proposal …
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CVC mixing proposal should include threshold for exemptions
The Financial Crimes Enforcement Network (FinCEN) should revisit its convertible virtual currency (CVC) mixing proposal to avoid covering the majority of financial institutions by a rule that should be targeted at a “relative few,” America’s Credit Unions wrote Monday. FinCEN’s proposal would establish certain reporting and recordkeeping requirements for those that participate directly in CVC …
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Credit, liquidity risk top NCUA’s 2024 supervisory priorities
NCUA issued a Letter to Credit Unions Monday outlining the agency’s supervisory priorities for 2024: credit risk, liquidity risk, consumer financial protection, information security, and interest rate risk. These represent the “areas posing the highest risk to credit union members, the credit union industry, and the National Credit Union Share Insurance Fund,” according to the …
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NCUA issues advisory on liquidity risk
The NCUA advisory issued Wednesday noted that while the credit union industry remains stable, the agency “continues to see growing liquidity stresses within the system.” The agency stated that credit unions “experiencing lower share growth, high loan growth, and declining levels of available liquidity as a result” need to focus on liquidity management. It called …
Joint letter to NCUA pushes for investment flexibility
America’s Credit Unions and the National Association of Credit Union Service Organizations (NACUSO) wrote to the NCUA Friday to request the agency amend its regulations to provide additional flexibility “to engage with and invest in innovative technology solutions and fintech companies.” The associations noted that providing this flexibility is permitted by the Federal Credit Union …
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