NWCUA Board Chair Jack Fallis called for volunteers to join the Association’s committees, which help guide the Policy Advancement, Public Awareness, and Collective Action of the Northwest credit union movement.
City of Portland Releases Second Investment Portfolio Summary Since Making ‘Responsible Banking’ Deposits
The city of Portland has released its second Investment Portfolio Summary since making its first public funds deposits with a group of 10 credit unions and banks in May as part of Mayor Sam Adams’ Responsible Banking Resolution.
Unitus Community Credit Union reported receiving a public funds deposit from the city of Portland in June, marking the third Oregon credit union to take such a deposit as part of the city’s recently passed Responsible Banking Resolution.
Less than a month after winning approval from Portland’s city commissioners, a responsible banking initiative championed by Mayor Sam Adams already has dollars flowing to local credit unions.
The weekly Regulatory Advocacy Update outlines the NWCUA’s efforts to reduce the regulatory burden on credit unions and protect the larger movement. Included here are updates on Portland’s responsible banking resolution and new NCUA initiatives.
The weekly Regulatory Advocacy Update outlines the NWCUA’s efforts to reduce the regulatory burden on credit unions and protect the larger movement. Included here are updates on Portland’s responsible banking resolution and an NCUA online initiative.
The CFPB recently issued a bulletin reminding credit unions that they can be held responsible for the actions of third-party contract service providers and that they are expected to have an effective process of managing risk in these relationships.
Portland Mayor Sam Adams requested input last week on his Responsible Banking Resolution, a proposal that could impact Oregon credit unions. He answered several questions on the subject in this Anthem e-interview.
Portland’s mayor is seeking input on a Responsible Banking Resolution, which recommends Oregon credit unions be allowed to accept public funds. Meanwhile, Rep. Suzanne Bonamici will be sworn in today and continues to emphasize raising the MBL cap.