America’s Credit Unions Comment Letter to Office of Management and Budget on Public Participation and Community Engagement
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May 2024
SCOTUS rules CFPB structure constitutional
The U.S. Supreme Court ruled Thursday that the CFPB’s funding structure does not violate the constitution, overturning a decision from the U.S. Court of Appeals for the Fifth Circuit. “The Court’s decision to side with the CFPB is one of acute consequence to credit unions and their 142 million members who are suffering from the …
CFPB, NCUA should take ‘holistic assessment’ of regulatory burden
Credit unions are experiencing an unprecedented battle on non-interest income, America’s Credit Unions Chief Advocacy Officer Carrie Hunt wrote to NCUA Chairman Todd Harper and CFPB Director Rohit Chopra Thursday, stressing these challenges stem from the actions of both agencies. “These challenges will result in a change to the credit union business model, making it …
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House Financial Services Committee passes CDFI transparency bill
The House Financial Services Committee passed the America’s Credit Unions-supported CDFI Fund Transparency Act (H.R. 3161) Thursday by a voice vote. The bipartisan bill would require Congressional testimony on the Treasury’s Community Development Financial Institutions (CDFI) Fund’s operations and activities. “Increased transparency into the CDFI Fund would ensure all entities – both the government and …
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America’s Credit Unions’ Hunt, Mesack meet with Treasury Department officials
America’s Credit Unions Chief Advocacy Officer Carrie Hunt and Senior Vice President of Advocacy Greg Mesack Thursday met with the Treasury Department’s Deputy Assistant Secretary for Financial Institutions Jeanette Quick and several members of the Office of Financial Institutions team to discuss several credit union priorities. Hunt and Mesack briefed Treasury staff on the state …
America’s Credit Unions’ Hunt, Mesack meet with Treasury Department officials Read More »
SCOTUS finds CFPB structure constitutional
The U.S. Supreme Court ruled Thursday that the CFPB’s funding structure does not violate the constitution, overturning a decision from the U.S. Court of Appeals for the Fifth Circuit. “The Court’s decision to side with the CFPB is one of acute consequence to credit unions and their 142 million members who are suffering from the …
Nussle: Increasing burdens threaten credit union system
Congress, the NCUA, and other regulators should work together to ensure credit unions can continue to serve millions of consumers, America’s Credit Unions President/CEO Jim Nussle wrote to the House Financial Services and Senate Banking Committees Wednesday in conjunction with hearings with federal financial regulators. NCUA Chairman Todd Harper was unable to attend due to …
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CDFI transparency bill will ensure fund continues to fulfill mission
America’s Credit Unions President/CEO Jim Nussle wrote in strong support of the Community Development Financial Institution (CDFI) Fund Transparency Act (H.R. 3161) prior to its scheduled markup by the House Financial Services Committee. The bipartisan bill would require Congressional testimony on the Treasury’s CDFI Fund’s operations and activities, and was introduced by Reps. John Rose, …
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