NCUA Issues Guidance on Lending to the “Removable Population”
In accordance with Executive Order 14406 “Restoring Integrity to America’s Financial System”, the National Credit Union Administration along with fellow agencies the Office of the Comptroller of Currency and the Federal Deposit Insurance Corporation have issued guidance on lending to individuals not legally authorized to work in the United States. CUSO Magazine’s Esteban Camargo reports.
The Origins of the Cooperative NCUSIF
Chip Filson shares the history of the NCUSIF including why it was created, why it works so well in comparison to the FDIC, the difference its made, and what its role is in the cooperative system today.
Senate Banking Committee Questions NCUA Deregulation Project
In a letter sent to NCUA Board Chair Kyle Hauptman at the end of June, Senator Elizabeth Warren questioned the agency’s deregulation project, shared concerns over the rolled back policies, and requested a briefing with Hauptman no later than July 16th, Emily Claus reports.
The Critical Role of Credit Union History Right Now
Preserving history, especially historical documents, is a critical undertaking, but the credit union industry, however, as Chip Filson has discovered, failed to do so during a critical time in the industry. Filson lements on the lessons lost and why the past is needed to help guide the present.
NCUA Announces CDRLF Grant Awards
The National Credit Union Administration announced that it has awarded $3.47 million to low-income designated credit unions through its CDRLF grants program, reports CUSO Magazine’s Esteban Camargo.
Kyle Hauptman’s Final Call as a One-Person NCUA Board
As Kyle Hauptman prepares to depart the NCUA after a fifteen month stint as it’s only board member, Chip Filson looks back at the approach Hauptman made during that time and what he’s passing on to the next board member.
Senate Banking Committee Holds Hearing on Artificial Intelligence and its Role in Financial Services
Last week, the Senate Banking Committee held a meeting on “AI and the American Dream: Promoting Innovation, Affordability, and American Dominance.” CUSO Magazine’s Esteban Camargo reports on the hearing and what America’s Credit Unions is urging regulators to do with respect to credit unions and their use of AI.
NCUA Passes Interim Final Rule Confirming Preemption of IFPA
The NCUA has officially published its interim final rule on interchange, declaring that the Federal Credit Union Act, which grants credit unions the right to charge fees, preempts the Illinois Interchange Fee Prohibition Act, Emily Claus reports.
Do Plants Have Feelings?
On the question of, “Do credit unions have too much capital?” Chip Filson debates what it means or if it’s possible to have too high a net worth, and what that might say about the credit unions relationship with its members.
NCUA Accepting Comments for 8th Round of Deregulation
The NCUA is currently accepting comments for its 8th round of rederegulation, as part of a larger government-wide initiative to decrease regulatory burdens. In this round, the agency is considering three main regulations, including proposals on remittance transfers, credit union to bank conversions, and data collection. The breakdown of these...
