NCUA to Receive Third-Party Oversight with New Bill Introduced
In a move opposed by credit union trade groups, Senators Jon Ossoff, D-GA, Cynthia Lummis, R-WY, and Mark Warner, D-VA, introduced a new bill that would provide NCUA with oversight powers over credit union organizations and service providers, reports CUSO Magazine’s Esteban Camargo.
Applications for CDFI Fund Suspended Between Oct. 1 and April 3
The Community Development Financial Institutions (CDFI) Fund recently announced that as it prepares for upcoming changes to its application process it will be suspending new applications and Target Market Modifications between October 1, 2022 and April 3, 2023, reports Esteban Camargo.
Prize-Linked Savings Allowed in Bill Passed by Pennsylvania House of Representatives
The Pennsylvania House of Representatives passed House Bill 331 sponsored by Representative Rosemary Brown (R-Monroe/Pike) allowing incentive-based savings programs and protecting financial institutions from offering cannabis-related business services, reports Esteban Camargo.
Takeaways from the 2022 CU*Answers Leadership Conference
CU*Answers held its Annual Leadership Conference discussing the future of the industry and of CU*Answers as it moves forward into 2023. Check out the key takeaways from each section of the event!
Bill Expanding Credit Union Fields of Membership Passed by House
On Wednesday, June 15, the House passed the Expanding Financial Access for Underserved Communities Act which will give federal credit unions the ability to expand their fields of membership to include underserved communities, reports CUSO Magazine’s Esteban Camargo.
Federal Housing Administration Gains Support for Forty-Year Mortgage Proposal
As the comment period for the 40-year mortgage proposal made by the Federal Housing Administration drew to a close, NAFCU and CUNA voiced their support, reports Esteban Camargo.
Is It Time for Credit Unions to Get Their Bank On?
With overdraft fees in the crosshairs, certified Bank On accounts are gaining recognition. Esteban Camargo explains what these accounts are and how credit unions can implement them at their institutions.
CUNA Releases Study on Credit Unions’ DEI Efforts
Esteban Camargo reports on the Credit Union National Association’s recently published study on credit union efforts to incorporate diversity, equity, and inclusion efforts into their strategic plans.
Senate Subcommittee Meets to Discuss Overdraft Fees
The United States Senate Subcommittee on Financial Institutions and Consumer Protection met on Wednesday, May 4 to discuss overdraft fees and their effects on working families. Esteban Camargo reports on the discussion.
The CAMELS in the Room
Starting April 2022, NCUA introduced a new letter to the CAMEL rating system: “S” for Sensitivity to Market Risk. Esteban Camargo gives a brief history of CAMELS and what each letter stands for in this financial literacy month series.
