Senator Mark Udall (D-CO) has introduced the Small Business Lending Enhancement Act, which would raise the credit union member business lending cap to 27.5% of assets. This could provide up to $13 billion to small businesses in the first year alone and create over 140,000 new jobs at no cost to taxpayers.
Within one week of the conclusion of the GAC, Sen. Mark Udall (D-Colo.) introduced legislation (the
Small Business Lending Enhancement Act, S509) increasing the authority of credit unions to make business
loans to their members. By the end of that week, 15 senators from both sides of the political aisle, had signed on as cosponsors.
The Federal Reserve System will conduct a webcast on risk-based pricing notices on February 16. This webinar is part of an ongoing series focused specifically on consumer compliance issues.
Late last week the Treasury released its interim final rule that will make radical changes to your credit unionâ€™s garnishment proceedings. This rule applies unless the garnishor is the Federal government or a State child protection agency.
As the Federal Reserve moves closer to implementation of the new interchange law, financial institutions across the country are concerned about how they will be affected by the possible loss of interchange fee income.
How can a member challenge a garnishment of an account that contains a protected payment that was not found during the look back period required under the rules from the Treasury for Garnishment of Accounts Containing Federal Benefits Payments?
In 1988 Kasey Rockwell began her credit union journey as a teller at First Tech Federal Credit Union in Beaverton, Ore., an experience that gave her a solid understanding of the important role credit unions play in the lives of everyday people.
The National Credit Union Administration has proposed changes to advertising requirements that could force some credit unions to reduce or eliminate some of their current marketing practices.
Several regulatory advocacy efforts that were part of our Government Affairs Conference will certainly continue throughout the coming weeks and months.
Fed Issues Clarifications to Reg Z Provisions that Apply to Open-end Credit Plans, Including Credit Cards
The Federal Reserve Board approved a rule amending Regulation Z (Truth in Lending) to clarify aspects of the Credit Card Accountability Responsibility and Disclosure Act of 2009 (Credit Card Act).
Beginning this month, CUNA Mutual Group’s MEMBERS® Auto & Homeowners Insurance program will be available to credit union members through Invest in America. Members will now be able to research and purchase auto and homeowners insurance products from their primary carrier, Liberty Mutual. Learn more about the program.
The latest news about NWCUA efforts in Washington D.C.
Thank you to everyone who sent emails in response to the two Action Alerts we sent out in the last two weeks.Â We had a good response but have more work to do, and must strike while the iron is hot.
The announcement from the Financial Crimes Enforcement Network of a $1,000,000 penalty assessed against Pamrapo Savings for Bank Secrecy Act violations marks a renewed focus on BSA compliance in examinations.