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CURRENT Newsletter | January 25, 2023

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League Closely Watching NCUA Board's Discussion on Interest Rate Ceiling; Urges Agency to 'Modernize' Approach to Interest Cap

Your League will be monitoring tomorrow’s NCUA Board Meeting, particularly the Board’s planned discussion of the interest rate ceiling set for federal credit unions. “We worry that the failure of the NCUA Board to act in raising the interest rate ceiling poses an unnecessary risk to federal credit unions and their earnings, which would directly affect capital, growth and liquidity,” said League President/CEO Carrie Hunt.

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League Partnering on Certification for ‘Advancing DEI in the Workplace’

Your League is partnering with the Maryland/DC Credit Union Association and Georgetown University on a six-course program titled, “Advancing DEI in the Workplace.” The program is designed to equip credit union leaders with the competencies, knowledge and tools to develop effective and sustainable DEI strategies that promote a culture of inclusion that reduces employee turnover, attracts top talent, empowers teams to innovate and leverages diverse perspectives to create an exceptional member experience. Those that successfully complete the coursework earn a DEI certification from Georgetown University. Program begins March 23.

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Registration Now Open for Southeast CUNA Management School

Registration is now open Southeast CUNA Management June 18 – 23, 2023 in Athens, GA. The 2023 session is set to provide new and returning students with an exciting year of training, networking and knowledge that will help them progress through the program and at their respective credit unions.

Register

NCUA Will Host Jan. 31 Webinar on Supervisory Priorities

NCUA on Jan. 31 will host a webinar discussing the 2023 Supervisory Priorities. Christel Orusede, from the agency’s Office of Examination and Insurance, will moderate a panel of NCUA subject matter experts who will discuss topics outlining NCUA’s supervisory priorities and other aspects of the agency’s examination program for 2023 to help credit unions prepare for their next NCUA examination.

Registration for this event is now open.

Related: Compliance: Experts analyze NCUA’s 2023 supervisory priorities

Reminder: Credit Union Diversity Self-Assessments for 2022 Due Jan. 31

The deadline to complete and submit the voluntary Credit Union Diversity Self-Assessment is Jan. 31. The Credit Union Diversity Self-Assessment is designed to help credit unions evaluate and advance their diversity policies and practices.

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CFPB Must Convene SBREFA Panel for Credit Card Fee Rulemaking

Credit unions and small banks are opposing any effort by the Consumer Financial Protection Bureau to reduce or eliminate the credit card late fee safe harbor, citing a potentially significant adverse impact.

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Sens. Warner, Crapo Praise Postponement of New CDFI Certification Application

Sens. Mark R. Warner (D-VA) and Mike Crapo (R-ID), co-chairs of the bipartisan Senate Community Development Finance Caucus (CDFC), said they were pleased to see the CDFI Fund postpone the launch of the new CDFI Certification Application beyond the previously anticipated April timeline in order to carefully review and weigh all public comments.

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Related: League’s Blau Testifies Before State Senate Committee in Support of CDFI Measure
Related: CDFI Fund announces CUNA-sought delay to consider application changes

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