June 2024

economic charts

Credit unions better serve consumers living paycheck to paycheck, combat financial deserts

Credit unions consistently serve a higher share of households living from paycheck to paycheck than banks, America’s Credit Unions Head of Emerging Issues and Deputy Chief Economist Curt Long explains in the latest Economic Update video. The Federal Reserve’s Consumer Finance Survey shows just under 40% of households that use credit unions as their primary …

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Energy and Commerce committee cancels markup of data privacy bill

The House Energy and Commerce Committee cancelled its scheduled Thursday markup of legislation, including the America’s Credit Unions-opposed American Privacy Rights Act. America’s Credit Unions wrote a letter in fierce opposition of the bill prior to the markup and signed onto additional letters of opposition with other organizations as well. “While we appreciate the efforts …

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MDI credit unions promote economic growth, financial security in underserved communities

The NCUA released its annual Minority Depository Institution (MDI) Report to Congress, detailing MDIs’ performance and the agency’s actions to support their efforts. The report highlights that MDI credit unions expanded membership and services in 2023 which in turn has promoted economic growth and financial security in underserved communities.  According to the report, the number …

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Nussle backs Senate bill to fund CFPB through appropriations process

America’s Credit Unions President/CEO Jim Nussle wrote to Sen. Bill Hagerty, R-Tenn., offering support for the Consumer Financial Protection Bureau Accountability Act, which would ensure accountability for the CFPB by requiring that its funding be appropriated by Congress.   “Currently, the Federal Reserve is required to provide whatever funding that the CFPB requests, within certain limits, …

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America’s Credit Unions opposes data privacy bill prior to markup

America’s Credit Unions opposes the American Privacy Rights Act (APRA), it wrote to House Energy and Commerce leaders Tuesday prior to committee markup of the bill. America’s Credit Unions President/CEO Jim Nussle applauded the bipartisan efforts to craft comprehensive legislation but noted major credit union concerns had not been addressed from discussion draft to the …

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Nussle advocates for CDP, WOCCU funding ahead of bill consideration

Ahead of floor consideration for the Fiscal Year 2025 State, Foreign Operations, and Related Programs bill, America’s Credit Unions President/CEO Jim Nussle wrote to Speaker of the House Mike Johnson, R-La., and Minority Leader Hakeem Jeffries, D-N.Y., and members of the House of Representatives to advocate for a FY2025 $50 million funding level for the …

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Credit union supporters win Tuesday in Colo., N.Y., S.C, Utah

Credit union-supported candidates saw success in Tuesday’s elections in Colorado, New York, Utah, and South Carolina. America’s Credit Unions PAC and state Leagues supported 34 candidates, with one loss and Utah’s 2ndCongressional District Republican primary yet to be called. In Colorado, Republican Jeff Heard won his primary with 41.3% of the vote (compared to opponents’ …

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