The House Financial Services Committee Approves Controversial Legislation to Limit Overdraft Fees

The House Financial Services Committee Approves Controversial Legislation to Limit Overdraft Fees

Last week, the House Financial Services Committee approved overdraft legislation which would limit the number of overdraft fees banks and credit unions can charge their clients. Emily Claus discusses the bill’s future and repercussions.

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Applications for CDFI Fund Suspended Between Oct. 1 and April 3

Applications for CDFI Fund Suspended Between Oct. 1 and April 3

The Community Development Financial Institutions (CDFI) Fund recently announced that as it prepares for upcoming changes to its application process it will be suspending new applications and Target Market Modifications between October 1, 2022 and April 3, 2023, reports Esteban Camargo.

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Federal Housing Administration Gains Support for Forty-Year Mortgage Proposal

Federal Housing Administration Gains Support for Forty-Year Mortgage Proposal

As the comment period for the 40-year mortgage proposal made by the Federal Housing Administration drew to a close, NAFCU and CUNA voiced their support, reports Esteban Camargo.

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House Dem Credit Union Bill Has Bankers, CUs Fired Up

House Dem Credit Union Bill Has Bankers, CUs Fired Up

As the House Financial Services Committee prepares to consider legislation that would allow all federal credit unions to add underserved areas to their fields of membership, the war of words between banks and credit unions has ratcheted up once again, reports David Baumann of the Washington Credit Union Daily.

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Death and Taxes: A Tale of Bank vs. Credit Union Lobbying

Death and Taxes: A Tale of Bank vs. Credit Union Lobbying

Banks and credit unions have been duking it out in D.C. over the tax exemption status the latter are allowed. David Baumann recaps the lobbying efforts both sides are making to discredit the other.

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CU Trades: NCUA is Too Picky in Anti-Money Laundering Exams

CU Trades: NCUA is Too Picky in Anti-Money Laundering Exams

NCUA examiners are too picky in their Anti-Money Laundering/Bank Secrecy Act enforcement and are citing financial institutions for small technical violations, NAFCU and CUNA have told the agency, reports David Baumann of the Washington CU Daily.

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Credit Unions Say SBA Has Improved Management of PPP Lending, But That Problems Persist

Credit Unions Say SBA Has Improved Management of PPP Lending, But That Problems Persist

The second iteration of the Small Business Administration’s Paycheck Protection Program is operating much more efficiently than the first version, credit union trade groups said, but added that they continue to run into persistent problems that hamper lenders and borrowers, reports David Baumann of the Washington Credit Union Daily.

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CUNA Continues Push for Liability Protection from Coronavirus Lawsuits

CUNA Continues Push for Liability Protection from Coronavirus Lawsuits

CUNA signed a letter with hundreds of other organizations urging Congress to include temporary coronavirus liability protection in any new economic stimulus legislation, reports David Baumann of the Washington Credit Union Daily.

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Cooperative Trade Associations Need to Evolve with the Times

Cooperative Trade Associations Need to Evolve with the Times

Trade Associations have had a critical role in the credit union industry over the years. Chip Filson is concerned though that they may be resting on their laurels, and have failed to evolve with an ever changing industry. What does the future hold in store for them?

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Credit Unions, Businesses Say PPP Loan Forgiveness Process is Daunting

Credit Unions, Businesses Say PPP Loan Forgiveness Process is Daunting

As businesses and credit unions move into the Paycheck Protection Program’s loan forgiveness process, they are reporting that it is so complex and burdensome that they have had to spend valuable time and resources on the paperwork, reports David Baumann of the Washington CU Daily.

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