Economic Liberties Project: Junk Fees Create Unlevel Playing Field
Arguing that junk fees are not just annoying, but also create an unlevel playing field, the American Economic Liberties Project on Monday released model legislation that would provide Congress and state legislatures tools to tackle the issue, reports David Baumann of CUCollaborate.
I Love My Credit Union Day Celebrates A Triumphant Third Year
The third annual I Love My Credit Union Day, a worldwide social media blitz meant to spread awareness and appreciation for the industry, was a resounding success, reports Emily Claus, with over one thousand credit unions and organizations getting involved in the festivities.
No Successor Named as Hood’s Term Comes to a Close
As NCUA board member Rodney Hood’s term comes to a close, he has announced he has no intention of leaving until a new board member is nominated and confirmed, a process which could take months, reports Emily Claus.
As NCUA Assists Vermont Credit Unions Affected by Floods, GAO Takes Shot at National Flood Insurance Program
While NCUA is offering assistance to Vermont credit unions affected by historic flooding, the Government Accountability Office is urging FEMA to increase premiums on the National Flood Insurance Program to keep it from further sinking under water, reports CUSO Magazine’s Esteban Camargo.
Mastercard Tells CUs, Banks to Stop Serving Marijuana Businesses
Demonstrating the perilous state of marijuana banking, Mastercard has directed credit unions and banks to stop offering payment services to marijuana-related businesses even in states where cannabis is legal, reports David Baumann of CUCollaborate.
NCUA Board Approves Updated Member Expulsion Rule
The NCUA board on Thursday, July 20, adopted a final rule making it easier for credit unions to expel members from their institutions for cause, such as violence or disorderly behavior, reports David Baumann of CUCollaborate.
House Financial Service Committee to Hold Hearing On Climate-Change Policies
On Tuesday, July 18th, the House Financial Service Committee will hold a hearing to discuss climate-change policy issues and whether financial regulators such as the NCUA can remain politically independent on the topic, reports Emily Claus.
NASCUS: NCUA Should Only Review FISCU Mergers for Share Insurance Risks
The NCUA should butt out of merger reviews of federally-insured, state-chartered credit unions (FISCUs) unless there is a safety and soundness issue that poses risks to the Share Insurance Fund (SIF), NASCUS said, in comments submitted to the agency.
Consumers Charged Nearly $3 Billion in Fees Annually from Predatory Lenders According to Study
In a study released June 2023 by the Center for Responsible Lenders, analysts found that borrowers are charged nearly $3 billion annually for single-payment, payday installment, and car-title loans, reports Esteban Camargo.
Takeaways from the 2023 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 2024. Check out the key takeaways from each section of the event!
