CURRENT Newsletter | October 20, 2022

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Happy International Credit Union Day!

League President Carrie Hunt Testifies at NCUA's Public Hearing on Budget Proposal

League President/CEO Carrie Hunt testified Wednesday during an NCUA hearing on its 2023-2024 budget and the agency’s justification for its proposed expenditures.

• Related: Inflation Drives Up NCUA's Proposed Budget (American Banker article featuring League President/CEO Carrie Hunt)
• Related: NCUA Budget Discussions Begin With 8.1% Proposed Increase for 2023 
• Related: NCUA Should Be ‘Laser-Focused’ on Budget Discipline
• Related: NCUA Budget Briefing: What 4 People Told Agency About Spending

NCUA Board Meeting Coverage: With New Cyber Exam Procedures Coming Before Year-End, Cyber-Update Provided

With its new Information Security Examination (ISE) procedures scheduled to go live for all credit unions before year-end, the NCUA board got an update on cybersecurity risks to both the agency and credit unions during its meeting today.

• Related: NCUA Releases Updates to its Automated Cybersecurity Evaluation Toolbox

League, CUs Host Federal, State Regulators at CEO Forum

Virginia’s credit unions and your League welcomed National Credit Union Administration Vice Chairman Kyle Hauptman and Virginia Bureau of Financial Institutions Commissioner Joe Face Jr. to an exclusive event today for CEOs from the Commonwealth’s credit unions with less than $100 million in assets.

Financial Well-Being for All Boot Camp Oct 26; Register Now

Your members need you. But are you doing enough to meet them where they are in their life and financial journeys? Are you taking full advantage of the many resources available to you to maximize your member service capabilities and capacity?

Virtual IRA Training Set for Oct. 25-26

Whether you are new to IRAs or an experienced administrator wanting an update, get the training you need!

In Other News ...

• 1st Advantage Colleagues Come Together for a Day of Community Service
• ValleyStar Credit Union Announces Chief Financial Officer
• NCUA Board Approves Risk Appetite Statement; Briefed on Central Liquidity Facility and Cybersecurity
• NCUA to Host DEI and Access Summit Nov. 2-4
• Credit Union Economists: More Big Rate Hikes Likely This Year
• Credit Unions Increase Student Lending 12.8% YOY in Q2
• Credit Union Loans Increased 1.9% in August
• Recession Fears Hit Risky Mortgage Debt Amid Default Concerns
• Credit Unions Wary Despite Record-Low Delinquencies
• CFPB's Credit Card Late Fee Project Could Hit Small Institutions Hard
• CFPB Takes Action to Address Junk Data in Credit Reports
• CFPB Research: Overdraft Fees and Economically Insecure Older Adults
• Court Rules CFPB Funding Unconstitutional, CU Trades Applaud Ruling
• I Know it's Today ... We Won't Repeat the Mistakes of 2008