Congress Returns With Major CU Proposals Unresolved
Congress returns to Capitol Hill this week with a long list of unresolved issues that could have a direct impact on credit unions—ranging from marijuana banking to credit card interchange policies, reports David Baumann of CUCollaborate.
NCUA Board Asks Congress to Make CLF Changes Permanent
The National Credit Union Administration board is asking Congress to make permanent the pandemic-related changes to the agency’s Central Liquidity Facility, reports David Baumann of the Washington Credit Union Daily.
House Panel Hints at Field of Membership Expansion Legislation
The House Financial Services Committee has given an early indication that it may consider legislation that would allow credit unions to expand their fields of membership into underserved areas, reports David Baumann of the Washington CU Daily. Among other issues, the Committee also may discuss making changes to the NCUA Central Liquidity Facility, the difficulties starting Community Development Financial Institutions and Minority Depository Institutions and killing the Office of the Comptroller of the Currency’s “rent-a-bank” rule. The hearing is May 19.
A Once-a-Decade Opportunity
Chip Filson argues that what the aging Central Liquidity Facility needs is reform that focuses on cooperative solutions to the problems that ail it.
Football and Credit Unions: Two Past Regulatory Reforms That Are Foundational Today
What do college football and credit unions have in common? According to Chip Filson, a history of being saved thanks to the collaboration of those invested in the outcome.
The Cooperative System’s Unique Capabilities In a Crisis
Cooperatives are uniquely positioned to respond well to crises thanks to their ownership structure and mission. But responding well takes more than just that. Chip Filson details what credit unions and their leaders need to do in those situations.
Central Liquidity Facility: The One Thing Necessary
If the Federal Home Loan Bank (FHLB) and Central Liquidity Facility (CLF) are both “lenders of last resort” why is the CLF deemed so unappealing? How is the FHLB system so much more relevant for credit unions than their own liquidity backstop? Chip Filson might know why.