What to Expect from the Battle for NCUA Supervisory Powers Over Third-Party Vendors
The NCUA has been arguing for supervisory powers over credit union vendors for years now but has found little success with Congress; David Baumann investigates the pros and cons of such a change and what to expect in 2024.
2024: What’s in Store for the Credit Union Industry?
As we step into 2024, David Baumann reports on where the industry is headed and what big moves from major players such as the NCUA, the newly formed America’s Credit Unions, Congress, and the CFPB we can expect.
House Passes Resolution of Disapproval for CFPB’s Section 1071 Rule
The House has passed a resolution of disapproval for the CFPB’s rule on Section 1071 of the Dodd-Frank Act, which would require credit unions to collect data on certain applications for credit. Emily Claus reports on the rule and what the next steps are.
New Chairman of Subcommittee on Financial Institutions Supports Cannabis Banking
Representative Andy Barr, a Republican from Kentucky’s 6th district, was chosen to lead the Subcommittee on Financial Institutions and Monetary Policy, which was previously known as the Subcommittee on Consumer Protection and Financial Institutions, reports Esteban Camargo.
NCUA Argues for Third-Party Vendor Authority in Capitol Hearing
The NCUA has made another bid for third-party vendor authority, this time focusing on AI technology. Citing shortcomings with small credit unions, the NCUA argues that their intervention is necessary for both security and financial reasons.
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.
