Blog
- NCUA Allows for CUNA-Requested Flexibility in IRR Framework
September 2, 2022NCUA issued a Letter to Credit Unions (22-CU-09) Thursday updating its Interest Rate Risk (IRR) supervisory framework. CUNA wrote to NCUA last week sharing credit unions’ IRR concerns and requesting NCUA change its policies to provide greater examiner flexibility.
- Nussle: Notary Modernization Would Benefit Consumers
September 2, 2022It's time for Congress to make remote online notary (RON) a permanent option for homeowners and homebuyers nationwide, CUNA President/CEO Jim Nussle wrote in RealClearPolicy. In Virginia, notarizing a document “remotely” is already permissible. In fact, Virginia became the first state in 2012 to formally authorize and provide a legal framework for such notarizations. A national standard and broader acceptance of such services will make it easier for Virginia-based credit unions to utilize this option.
- Pelosi Raises Flag On Data Privacy Bill's State Law Override
September 2, 2022House Speaker Nancy Pelosi on Thursday threw a wrench into efforts to enact federal privacy legislation that was recently sent to the House floor, saying that more work needs to be done to prevent the proposal from overriding California's more stringent privacy protections.
- Waters Announces Financial Services Committee Schedule for September
September 2, 2022Rep. Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, recently announced the Committee's schedule for the month of September.
- Richmond-Area Credit Unions Raise $17,226 for VACUPAC
September 2, 2022Richmond-area credit unions and their business partners raised $17,226 for the Virginia Credit Union Political Action Committee (VACUPAC) through golf tournaments in 2021 and 2022.
- Interchange Bill Would ‘Over-Regulate’ Working System
September 2, 2022The last thing Congress should do right now is make life harder for consumers by imposing punishing regulations on their credit cards, Missouri State Rep. Phil Christofanelli wrote in The Missouri Times. Christofanelli wrote with concerns about the Marshall-Durbin interchange bill that CUNA, Leagues, and credit unions strongly oppose.
- CUs, League Meet with Congressman Good; Key State Lawmakers Sen. Newman, Del. Byron
September 1, 2022Credit union advocates and your League held a series of meetings this week with federal and state lawmakers.
- Credit Card Rewards Would Be Collateral Damage in ‘Durbin 2.0’ Bill
September 1, 2022A proposed bill co-authored by Sen. Dick Durbin aims to add competition to the 'duopoly' of Visa and Mastercard, but financial institutions say it would harm consumers by sharply reducing credit card loyalty programs.
- Rumored Regulation E, EFTA Expansion from CFPB is ‘Unwise, Unlawful’
August 31, 2022The Consumer Financial Protection Bureau’s (CFPB) rumored plan to expand Regulation E and the Electronic Fund Transfer Act (EFTA) is unlawful, would contravene the bill’s text, and would run afoul of the Administrative Procedures Act, CUNA wrote to the CFPB Tuesday.
- Democratic Group Says People of Color, Low-Income Communities Continue to be Financially Excluded; Backs Expansion of Postal Banking
August 31, 2022A new report from the Joint Economic Committee Democrats says people of color and low-income communities continue to be disproportionately harmed by banking and financial exclusion, and among its recommended remedies is expanded postal banking.