Blog
- Bill Debuts in Senate That Would Create $2B Emergency Fund for CDFIs
May 13, 2022A dozen senators led by Senator Brian Schatz (D-HI) have introduced legislation in the Senate Banking, Housing and Urban Affairs Committee that would create a new $2-billion emergency fund for community development financial institutions (CDFIs).
- Yellen Calls for Stablecoin Regulation
May 13, 2022Treasury Secretary Janet Yellen reiterated her call for Congress to regulate stablecoins following a significant decline this week in TerraUSD, The Wall Street Journal reported.
- NCUA Details Its AI Programs, Asks Congress for Third-Party Vendor Authority
May 13, 2022During a Friday hearing on Capitol Hill about artificial intelligence (AI) and RegTech, an official with the NCUA testified about the AI challenges facing the agency and the growing need for approval from Congress for the NCUA to have third-party vendor authority over those organizations supplying AI technology to credit unions.
- Chopra's Expansive Vision for CFPB Authority is Facing Industry Pushback
May 13, 2022A dizzying number of policy changes and enforcement actions by the Consumer Financial Protection Bureau in recent weeks has prompted aggressive pushback from banks and industry executives.
- Four Ways Cannabis Banking Could Cross the Finish Line in 2022
May 13, 2022The legalization of cannabis banking looks as likely as ever, but the road lawmakers will take to get there remains an open question. After years of stasis, many policy analysts are suddenly bullish on the reform’s odds of passage.
- Overdraft Fees, NCUA Oversight of Vendors Comes Up During Another Senate Hearing
May 12, 2022The issue of overdraft fees raised its head in yet another Senate hearing, as did questions around cybersecurity risks to credit unions. Both issues were raised during a Senate Banking, Housing, and Urban Affairs Committee hearing focused on the Financial Stability Oversight Council’s (FSOC) report to Congress.
- NCUA and CDFI Fund Hosting Webinar on Community Development Resources for Credit Unions
May 11, 2022Credit unions seeking resources for community development investments are encouraged to participate in a June 2 webinar hosted by the National Credit Union Administration and the Community Development Financial Institutions Fund. Online registration for the webinar is now open.
- Rising Rates Demand NCUA Raise Permissible Interest Rate Ceiling, NAFCU Tells Agency
May 9, 2022NCUA should immediately raise the permissible interest rate ceiling to mitigate unnecessary interest rate risks facing federal credit unions, NAFCU told the agency in a letter.
- League Engages With Senators on Interchange, Overdraft; Urges Lawmakers to Leave Current Systems in Place
May 9, 2022Your League closely monitored two key Congressional hearings last week covering interchange and overdraft protection programs, while also joining with our credit unions and other financial services trades in writing Congress about the dangers and unintended consequences of altering the current regulatory models governing interchange and overdraft programs.
- League, The United Methodist Credit Union Meet with Congressman McEachin
May 6, 2022The Virginia Credit Union League held a very productive meeting with Congressman Donald McEachin (D-4th) on May 5, 2022 at United Methodist Credit Union (TUMCU). VACUL President/CEO Carrie Hunt and TUMCU President/CEO Jim Eads had a very enlightening discussion with the Congressman, discussing the great and innovative work done by TUMCU and other Virginia credit union for their members and communities.