Blog
- House Passes NDAA with SAFE Banking, CLF Extension
July 15, 2022The House passed the FY23 National Defense Authorization Act with several CUNA-supported provisions. The bill includes the Secure and Fair Enforcement (SAFE) Banking Act, extends CARES Act Central Liquidity Facility flexibility, and includes provisions to support fair hiring in financial services. Also of note: the NDAA contains provisions that would grant NCUA third-party vendor examination authority, which your League vehemently opposes. We'll remain engaged on this issue and legislation as the Senate takes up this measure.
- CUNA Backs SAFE Banking Amendment to FY23 NDAA
July 14, 2022CUNA joined organizations in supporting the addition of the Secure and Fair Enforcement (SAFE) Banking Act to the House version of the FY23 National Defense Authorization Act (NDAA), which is scheduled for a House floor vote this week. The SAFE Banking Act is a CUNA-League supported bill offering safe harbor for financial institutions serving legal, cannabis-based businesses.
- TRGroup Hosting First-Ever Compliance Conference
July 12, 2022Learn from the industry's best-known regulatory compliance experts at the TRGroup's first-ever compliance conference, slated for Sept. 14-15 in Nashville, TN.
- Basel Committee Issues World Council-Supported Proportionality Guidance
July 12, 2022The Basel Committee on Banking Supervision (Basel Committee) has issued guidance encouraging national-level regulators to consider tailoring its standards for less complex financial institutions such as credit unions—a position long-advocated for by World Council of Credit Unions that will benefit financial cooperatives and their members worldwide.
- Brainard Calls Digital Dollar a 'Natural Evolution' of Payment System
July 12, 2022A central bank digital currency could play a key role in protecting financial stability, Federal Reserve Board Vice Chair Lael Brainard said in a speech. In remarks delivered at a Bank of England conference in London, Brainard said a CBDC could be a settlement layer that connects a system of regulated stablecoins to one another and to public money. The comments were the strongest endorsement a Fed official has given to the idea of a digital U.S. dollar to date.
- Treasury RFC Seeks Input on Digital Assets
July 12, 2022The Treasury Department has issued a request for comment (RFC) on the responsible development of digital assets, which fulfils its consultative requirement under President Biden's Executive Order on Ensuring Responsible Development of Digital Assets.
- Voice Service Providers File Ex Parte Letter with FCC
July 8, 2022A coalition of voice service providers filed an?ex parte letter?with the Federal Communications Commission Friday expressing direct support of CUNA’s?recently filed letter, supported by leagues, on call blocking notification codes. CUNA supports adoption of SIP Code (signaling protocol) 608 to provide notification to callers that a voice service provider has blocked their call using analytics.
- League President/CEO Carrie Hunt Hosting July 27 Virtual Meeting for Members CUs
July 7, 2022Join League President/CEO Carrie Hunt on July 27 for a special virtual meeting on your League's recent initiatives, including updates on advocacy, business solutions and our collaborative endeavors. We also want to hear from you!
- Oversight Needed for Digital Assets Marketplace
July 5, 2022In a letter to the Department of Commerce’s International Trade Administration, CUNA said it supports developing a comprehensive regulatory framework governing digital assets that protects consumers, financial institutions, and the economy. CUNA sent the letter in response to the federal agency’s request to comment on Developing a Framework on Competitiveness of Digital Asset Technologies (RFC).
- FIs Hit Back at Merchants Over Inflation's Role in Swipe-Fee Debate
July 1, 2022Financial institutions are hitting back at retailers over which side is being harmed by inflation — part of their long-running fight about the future of interchange fees.