NCUA Board Treads Lightly on Climate Change Risks
Under fire from farm state elected officials, the National Credit Union Administration board emphasized at its March meeting that the agency will not micromanage credit union policies as credit unions consider the risks of climate change. Other issues were also discussed, reports David Baumann of the Washington Credit Union Daily.
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.
Funding Deal: $295 Million for CDFI; Easier Ouster of CU Members
House and Senate appropriators have reached agreement on an FY22 government funding package that would provide a $25 million boost for the Community Development Financial Institution program and make it easier for credit unions to expel members, reports David Baumann of the Washington Credit Union Daily.
NCUA Issues Cybersecurity Warning Following Russia Invasion of Ukraine
The NCUA, the Cybersecurity and Infrastructure Security Agency, the FBI, and the National Security Agency are urging credit unions to “adopt a heightened state of awareness” of possible cyber threats posed by Russia following its invasion of Ukraine, reports David Baumann of the Washington Credit Union Daily.
NCUA Board: Share Insurance Fund Remains Healthy
The National Credit Union Administration’s Share Insurance Fund remains strong even though the agency’s equity ratio is below the normal rate set by the NCUA board, Eugene Schied, the agency’s CFO said during the February NCUA board meeting. Other issues were also discussed, reports David Baumann of the Washington Credit Union Daily.
Credit Union CEO Asks Congress to Boost CDFI Funding, Simplify Application
David Baumann of the Washington CU Daily reports that Congress should increase funding for the Community Development Financial Institutions program and make it easier for credit unions and banks to become certified, Jeanne Kucey, chief executive officer of the JetStream Federal Credit Union told a Senate Subcommittee.
House Passes Marijuana Banking Measure for Sixth Time
The House passed marijuana banking legislation for the sixth time, sending it to the Senate, where its fate remains uncertain, reports David Baumann of the Washington Credit Union Daily.
CFPB to Consumers: Tell Us About ‘Junk Fees’
The Consumer Financial Protection Bureau is directly appealing to consumers to provide details about so-called “junk fees” they have been charged by financial services providers, reports David Baumann of the Washington Credit Union Daily.
NCUA Board to Consider Succession Planning Rule on Jan. 27
The National Credit Union Administration board will consider a proposed rule governing succession planning at credit unions on Jan. 27, reports David Baumann of the Washington Credit Union Daily.
Only Six People Have Participated in Postal Banking Pilot
David Baumann of the Washington Credit Union Daily reports that a mere six people have participated in the United State Postal Service’s postal banking pilot program, USPS officials said.
