Blog
- Letter to Credit Unions (22-CU-06) NCUA to Begin Phase 2 of Resuming Onsite Operations
April 5, 2022Based on new guidance from the Centers for Disease Control and Prevention (CDC) and the Safer Federal Workforce Task Force, the agency will enter the second phase (Phase 2) of resuming its onsite operations on April 11, 2022. Phase 2 permits NCUA staff to volunteer to work onsite, including conducting examination and supervision work at credit unions located in counties with low or moderate COVID-19 community levels. Read the Letter to Credit Unions
- NCUA Should Issue Succession Planning Proposal as Guidance
April 5, 2022CUNA supports the overall objective of NCUA’s succession planning proposal but feels the provisions would be more appropriate as guidance than regulation, it wrote to NCUA Monday. The proposal would require federal credit union boards of directors establish and adhere to process for succession planning for key positions.
- NCUA Final Rule on 'Service Facility' Definition
April 4, 2022NCUA issued a Letter to Federal Credit Unions (22-FCU-02) on the final rule amending the definition of “service facility” for multiple common-bond credit unions. The rule became effective Dec. 27, 2021. The final rule provides that shared locations are service facilities for purposes of multiple common-bond federal credit union additions of groups, regardless of whether the federal credit union has an ownership interest in the shared branching network providing the locations,” the letter reads.
- Credit Unions Support 49th Running of Cherry Blossom Ten Mile Run
April 4, 2022The men’s and women’s winners made history and credit unions presented a check for $323,000 to Children’s Miracle Network (CMN) Hospitals Sunday morning at the Credit Union Cherry Blossom Ten Mile Run. Your League and a number of Virginia-based credit unions are sponsors of the run.
- NCUA Says It Could Meet Just One-Third of Requests from Smaller CUs
April 4, 2022NCUA was only able to cover approximately one-third of the requests it received for technical assistance from small credit unions during 2021.
- General Assembly to reconvene Monday to Finalize Budget
April 4, 2022Lawmakers are returning to Richmond Monday after being summoned last month for a special session by Gov. Glenn Youngkin to finalize the state’s biennial budget. But more than three weeks after the General Assembly adjourned its regular session on March 12, budget conferees have been unable to close the $3 billion gap that still separates the spending bills of both parties, with most disagreements relating to different versions of tax relief proposals. Learn more
- States Work to Stifle Credit Union Acquisitions of Banks
April 1, 2022Several U.S. states are taking the matter of credit unions acquiring banks into their own hands.
- CU Overdraft Programs Designed with Members in Mind
April 1, 2022UW Credit Union President/CEO Paul Kundert testified before the House Financial Services Subcommittee on Consumer Protection and Financial Institutions Thursday for its hearing on overdraft programs. In advance of the hearing CUNA submitted its own letter for the record, in addition to a joint letter with the National Association of Federally Insured Credit Unions.
- House Passes Bill Decriminalizing Marijuana; Senate Fortunes Unclear
April 1, 2022The House on Friday passed legislation that would remove marijuana from the federal schedule of controlled substances, a move that comes as an increasing number of states have passed decriminalization laws.
- US Treasury Proposes 4 Digital Asset-Related Tax Reporting Requirements
March 31, 2022President Joe Biden's proposed 2023 budget included four new tax reporting requirements related to digital assets.