CFPB’s Credit Card Late Fee Proposal Continues to Draw Criticism from CUNA
In a letter to the CFPB, the Credit Union National Association details its reasons for opposing the Bureau’s proposed reduction of maximum allowable credit card late fees to $8, reports Esteban Camargo.
As FDIC Proposes Deposit Insurance Changes, CU Trades Emphasize Parity
As policymakers struggle with whether to increase deposit insurance at financial institutions—the FDIC outlined its own plan on Monday—credit union trade groups said they want banks and credit unions to be treated the same if changes are made, reports David Baumann of CUCollaborate.
CUNA Digital Marketing School to Empower Credit Unions with AI, Innovative Strategies
CUNA Digital Marketing School, an event designed to help credit unions stay ahead in an ever-changing digital landscape, will offer a unique learning environment featuring industry experts and experienced digital marketers from the credit union sector.
What Exactly is a Corporate Credit Union?
CUSO Magazine’s Esteban Camargo continues Financial Literacy Month by shedding some light on corporate credit unions, what they are, how they formed, and where they stand today.
CFPB Declared Constitutional By 2nd Circuit Court of Appeals Ahead of Supreme Court Review
Following the 5th Circuit Court’s ruling declaring the CFPB’s structure and funding unconstitutional and the Supreme Court’s agreement to review the case, the 2nd Circuit Court has now ruled the organization to be constitutional, reports Emily Claus.
Overdraft Fee Income Down, Other Checking Account Fees Steady, Reports CFPB
In a report issued by the Consumer Financial Protection Bureau (CFPB) last week, the agency announced that banks’ reported overdraft fee income “was 43% lower in the third quarter of 2022 than in the third quarter of 2019 before the COVID-19 pandemic onset – suggesting $5.1 billion less in fees on an annualized basis,” reports CUSO Magazine’s Esteban Camargo.
House Passes Credit Union Board Modernization Bill
The House has passed the CUNA-supported Credit Union Board Modernization Act, which would alter the current board meeting requirements from monthly meetings to a minimum of six meetings per year. Emily Claus reports.
CUNA Calls on Government for Regulatory Standards Regarding Digital Assets
CUNA has called on the Treasury Department to create a national standard on digital assets, as they claim a lack of regulatory oversight has allowed FinTechs to gain an unfair market share that runs rampant with illicit activities. Emily Claus reports.
NCUA’s Spooky Budget Increase Could Be Curbed By Expanding, Not Reducing, Remote Examinations
NCUA proposed a big increase to its operating budget in 2023, and many have come out in opposition. Esteban Camargo provides a little detail on the budget proposal, responses to it, and why the NCUA should reconsider its plans.
The Credit Card Competition Act is Drawing Criticism from Credit Union Trade Groups
A new bill from Senator Richard Durbin (D-IL) introduced in late July, the Credit Card Competition Act, is drawing the attention of the credit union industry, and not in a good way reports Esteban Camargo.
