On Thursday, October 19, during a confirmation hearing before the Senate Committee on Banking, Housing and Urban Affairs, NCUA board nominee Tanya Otsuka provided her opening statement, reports Esteban Camargo.
During its eighth open meeting of 2023, the NCUA Board unanimously approved a new rule that will improve the ability of federally insured credit unions (FICUs) to partner with financial technology companies, reports CUSO Magazine’s Esteban Camargo.
Arguing that junk fees are not just annoying, but also create an unlevel playing field, the American Economic Liberties Project on Monday released model legislation that would provide Congress and state legislatures tools to tackle the issue, reports David Baumann of CUCollaborate.
The NCUA board on Thursday, July 20, adopted a final rule making it easier for credit unions to expel members from their institutions for cause, such as violence or disorderly behavior, reports David Baumann of CUCollaborate.
Ten state credit union regulators have signed a new agreement that will govern how they will share supervision when a state-chartered credit union crosses their borders reports David Baumann.
House Financial Services Committee Drafts Legislation to Increase Credit Union and Bank Oversight Following Bank Failures
Following the collapse of three major banks, the House Financial Services Committee has announced legislation which would require financial regulators such as the NCUA to provide semi-annual reports, detailing credit unions that underperformed on examinations, reports Emily Claus.
Financial regulators, including the NCUA, must do more to protect members and customers who fall victim to scams and fraud when using the Zelle payment network, five Democratic senators told the regulators last week, reports David Baumann of CUCollaborate.
Following the CFPB’s proposed rule limiting credit card late fees to a maximum of $8, reactions from the financial sector have been largely opposed, reports David Baumann of CUCollaborate.
In December, the House released the findings of their investigation into PPP fraud and found that FinTechs were guilty of failing to protect against fraudulent loans and even sometimes knowingly pushing said loans through in turn for a profit. Emily Claus reports.
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.