The Federal Communications Commission’s (FCC) illegal text message blocking proposal should not affect legal texts from credit unions and other financial institutions, CUNA and other organizations wrote to the agency. The comments were sent [...]
Cryptocurrencies are spreading worldwide with 10,043 tradeable cryptocurrencies as of July 2022. As crypto continues to evolve, so does the regulatory landscape. While more regulation could help stabilize a notoriously volatile crypto market, some [...]
Congressional Democrats are calling for federal banking regulators to stiffen rules governing the Community Reinvestment Act (CRA), but they are not pushing for the legislative changes that would make credit unions subject to the law. [...]
NAFCU Vice President of Legislative Affairs Brad Thaler wrote to the Senate Banking Committee ahead of its hearing to review the President’s Working Group (PWG) on Financial Markets’ report on stablecoins, cautioning the committee [...]
NAFCU’s Kaley Schafer wrote to the Financial Crimes Enforcement Network (FinCEN) Friday in response to a request for information (RFI) regarding the review of Bank Secrecy Act (BSA) regulations and guidance. Of note, the [...]
Credit unions are encouraged to share their insights and perspective on current regulatory and legislative hot topics via this month's Economic & CU Monitor survey. Responses to the survey are due tomorrow, Dec. 8; the [...]
NAFCU Regulatory Affairs Counsel James Akin wrote to the Federal Reserve Tuesday in response to proposed modifications to Regulation II clarifying the requirement for debit card issuers to enable – and allow merchants to choose from – [...]
The House Financial Services Committee began its markup of the CUNA-supported Promoting New and Diverse Depository Institutions Act (H.R. 4590) starting Wednesday. CUNA wrote in support of the bill in advance of the markup. [...]
The credit union regulatory environment is intended to provide safety and soundness to a movement that has nearly $2 trillion in assets and more than 125 million member-owners. For credit union leaders, compliance is a [...]
CUNA recommends federal financial agencies continue to work with financial institutions on the use of artificial intelligence (AI) in the delivery of financial services it wrote in response to a joint agency request for information [...]
We recently sat down with Cole Saini, Director of Risk Management at California-based KeyPoint Credit Union, to talk about how regulated financial institutions can provide reliable and cost-effective cannabis banking programs, and what cannabis-related businesses ([...]
On June 11, the regulators released their Spring 2021 Rulemaking Agendas, which helps inform what the agencies are planning to review and finalize in 2021. The Consumer Finance Protection Bureau (CFPB) also released a blog, [...]
On May 19, after the House Financial Services Committee Chairwoman Maxine Waters prepared a draft bill for introduction a few days earlier, NCUA Chairman Harper testified at the House Financial Services Committee requesting unlimited vendor [...]
Account holder digital expectations are often being driven by innovative fintechs and credit unions have turned to open banking as an effective way to meet this demand through partnerships with third-party providers (TPPs). Open banking [...]
In March of 2021, Back Office support CUSO Aux finalized its findings from a nation-wide credit union survey on the effects the Democratic-controlled administration might have on the industry. This robust, 22-question survey explored a [...]
