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CUNA and NAFCU are now America's Credit Unions.

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May 23, 2024

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House Armed Services Committee passes NDAA without any bank amendments ([link removed] )

The House Armed Services Committee advanced its version of the Fiscal Year 2025 National Defense Authorization Act (NDAA) Wednesday without any amendments expanding land lease arrangements to for-profit banks. America’s Credit Unions wrote to the committee prior to the markup in opposition of any potential amendments from the banking lobby, noting that credit unions continue …

Credit union supporters win in Ga., Idaho, Ky., Ore., primaries ([link removed] )

Eighteen of the 19 credit union-supported candidates won in primary elections Tuesday in Georgia, Idaho, Kentucky, and Oregon. Candidates—nine in Georgia, one in Idaho, five in Kentucky, and four in Oregon—were supported by America’s Credit Unions, its PAC, and state Leagues. Notable wins for credit union supporters include Rep. David Scott, D-Ga., who introduced bipartisan …

CFPB issues rule to classify BNPL as credit cards ([link removed] )

The CFPB Wednesday announced an interpretive rule to apply some, but not all, of the consumer protections in place for credit cards under Regulation Z to Buy Now, Pay Later (BNPL) loans. The rule allows consumers to dispute charges and obtain refunds from the lender after returning a product purchased with a BNPL loan. The rule …

Nussle provides credit union perspective on American Privacy Rights Act ahead of markup ([link removed] )

Ahead of today’s House Energy and Commerce Subcommittee on Innovation, Data and Commerce markup of three bills, America’s Credit Unions President/CEO Jim Nussle shared suggestions for improving the American Privacy Rights Act discussion draft. “Credit unions strongly support the idea of a national data security and data privacy regime that includes robust security standards that apply …

NCUSIF ends Q1 with $68.1M net income ([link removed] )

NCUA staff projects the equity ratio for June 30, 2024 will be 1.24%, they said during the NCUA board’s May meeting. The quarterly share insurance fund update was the only item on the meeting agenda, which was conducted by Vice Chairman Kyle Hauptman and board member Tanya Otsuka, with NCUA Chairman Todd Harper out on …

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