Proposed Budget Cuts Would Slash CDFI Discretionary Awards
The FY2026 budget proposal from President Trump would eliminate the Community Development Financial Institution Fund’s discretionary awards and require the CDFI Fund to allocate 60 percent of loans and investments to rural communities, reports Esteban Camargo.
Lawsuit Filed Over NCUA Board Member Firings
Former NCUA Board Members Todd Harper and Tanya Otsuka have filed a lawsuit in response to their early dismissals from the agency by President Trump on April 15th, arguing the move violates the Federal Credit Union Act and is an overreach of executive power, Emily Claus reports.
NCUA Argues One Board Member Constitutes a Quorum
The NCUA has released its first official statement since the firings of board members Tanya Otsuka and Todd Harper, stating its belief that remaining board member Kyle Hauptman constitutes as a quorum and is able to perform all board functions on his own, Emily Claus reports.
Trump Fires Democrat NCUA Board Members Todd Harper and Tanya Otsuka
Late Tuesday evening, President Trump fired two of the three NCUA board members—Democrats Todd Harper and Tanya Otsuka—years before their terms were set to expire, leaving Board Chair, Republican Kyle Hauptman, the sole remaining board member. Emily Claus reports.
House and Senate Both Pass Resolution to Nullify CFPB Overdraft Rule
As part of the administration’s deregulation efforts, both Chambers of Congress have passed a resolution which would nullify the CFPB’s Overdraft Rule, with the President expected to sign it in the coming weeks, reports Emily Claus.
America’s Credit Unions CEO and President Jim Nussle Announces Intention to Retire
Just one month after the Governmental Affairs Conference, America’s Credit Unions President and CEO Jim Nussle has announced his intention to retire from the organization in the coming months, Emily Claus reports.
Financial Literacy Month: Supporting Members in Uncertain Economic Times
As we head into Financial Literacy Month, Emily Claus encourages credit unions to step up beyond their typical methods and work harder than ever to meet members where they are with the education and products they need in these uncertain economic times.
CDFI Fund Marked Safe From Cuts, Deemed Statutory
After weeks of uncertainty, the Treasury Department has now officially confirmed that all 11 CDFI programs are safe from cuts as they are deemed statutory programs, reports Emily Claus.
Credit Unions and Politicians React to Trump’s Executive Order Targeting CDFIs
A March 14 Executive Order targeting the Community Development Financial Institutions Fund has left the credit union and banking industry gathering support from a growing list of bipartisan lawmakers who support the Fund and its importance in serving under- and unbanked communities, reports Esteban Camargo.
Hauptman’s Decision on Disclosure of Overdraft/NSF Fees Causes Stir Among NCUA Board
Following the decision by NCUA Board Chair Kyle Hauptman to cease releasing data on overdraft/NSF fee income, board members Tanya Otsuka and Todd Harper issued statements opposing the “unilateral” decision. Esteban Camargo reports.
