NCUA issues letter to CUs, Reg Alert

The NCUA Tuesday issued a Letter to Credit Unions encouraging participation in the agency’s voluntary Credit Union Diversity Self Assessment and a Regulatory Alert to break down the CFPB’s annual adjustments for three exemption thresholds under the Truth in Lending Act (TILA) and the Consumer Leasing Act (CLA).

Following the NCUA’s 2021 Diversity Equity and Inclusion (DEI) Summit in early November, the agency wrote a Letter to Credit Unions discussing the voluntary Credit Union Diversity Self-Assessment as an appropriate next step for moving ahead with progress within the credit union industry around the principles of diversity, equity, and inclusion.

The self-assessment can be filled out on the agency’s website. This self-assessment is designed to help credit union executives evaluate and advance their credit union’s diversity policies and practices. Results are due to the NCUA’s Office of Minority and Women Inclusion (OMWI) by Jan. 15, 2022. NAFCU is committed to DEI and is supportive of NCUA efforts to ensure the financial inclusion of all Americans.

 

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