Reaction to CFPB Credit Card Fee Plan Wildly Divided
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.
House Report into PPP Loan Fraud Points the Blame at FinTechs
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 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.
Credit Union Groups Call on the NCUA for Merger Policy Reform
NAFCU and NASCUS both submitted comments to the NCUA ahead of their August 16th deadline for submissions calling for changes in merger policy and regulatory oversight, Emily Claus reports.
Leading with Competence, Not Position or Authority
Chip Filson recalls then NUCA chair Ed Callahan’s wise words to the industry back in 1982 and how they should impact and inspire credit union leaders today.
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.
Trust the Future to Those Willing to Lead
With the NCUA passing a proposed rule 2-1 requiring succession planning at all federally insured credit unions, Randy Karnes shares his thoughts on what “broad discretion” actually means and what credit unions should be focusing on.
Taxi Medallions in the American Cooperative System
The role of ownership has always been a core aspect of the cooperative model. But if that’s the case, why did the NCUA undermine the right of ownership in the NYC taxi medallion issue? Chip Filson contemplates the ramifications of this choice.
Financial Service Committee to Consider CU Member Expulsion Bill
The House Financial Services Committee on Tuesday will consider legislation that would make it easier for credit unions to expel members who pose a threat or engage in dangerous or illegal conduct, reports David Baumann of the Washington Credit Union Daily.
What Harper Got Wrong with the CUSO Rule Vote
Vic Pantea shares his thoughts on the recent CUSO rule approved by the NCUA board, and why Harper got the vote wrong.
