America’s Credit Unions Letter to Senate Commerce Subcommittee on Consumer Protection, Product Safety, and Data Security on Data Security Hearing
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FCU board member reimbursement should include childcare
America’s Credit Unions’ Luke Martone wrote to the NCUA Board Tuesday requesting the agency explicitly permit reimbursement of childcare costs incurred by a federal credit union board member. “Specifically, we ask the Board to amend section 701.33 to allow FCU board members to be reimbursed for the cost of childcare when it is necessary in …
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DEI in 2024 and beyond
America’s Credit Unions Vice President of Diversity, Equity, and Inclusion (DEI) Samira Salem joined CUBroadcast’s Mike Lawson to discuss the status of DEI in 2024 and beyond. During their discussion, Salem shares how well DEI models work in today’s businesses – including the credit union industry – and details the many benefits of DEI.
Credit union witness to testify on fees before Senate Banking Committee Thursday
Afena Federal Credit Union President/CEO Karen Madry will testify Thursday before the Senate Banking Committee on behalf of America’s Credit Unions for a consumer protection hearing related to fees in financial services. Madry will share how continued attacks on standard financial services fees jeopardizes access to credit, especially for financially vulnerable communities. The hearing is …
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Voicing credit union Reg II concerns with the Fed
The Federal Reserve’s proposal to further lower debit interchange fees was the top priority during a meeting between America’s Credit Unions’ Andrew Morris, along with other trade groups, and Federal Reserve Vice Chair Michael Barr Monday. America’s Credit Unions has met with most of the Fed’s Board of Governors to discuss this proposal. Morris reiterated …
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Big Box Bailout bill is an attack on consumers
Big box retailers are attacking consumer convenience, security, and value with the Big Box Bailout bill, America’s Credit Unions President/CEO Jim Nussle, American Bankers Association President/CEO Rob Nichols, and Independent Community Bankers of America President/CEO Rebeca Romero Rainey wrote in American Banker Monday. “These new mandates will not only jeopardize your security — they will …
Strong verification process needed for CFPB complaint database
The CFPB should establish a strong verification process for its consumer complaint database, America’s Credit Unions’ James Akin wrote to the bureau Monday, in response to a bureau request for comment on the issue. “While the objective of these surveys is commendable, we are concerned about potential harm that might arise from data inaccuracies, particularly …
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Agencies issue proposal on incentive-based compensation
NCUA—along with other federal financial regulators—issued a Notice of Proposed Rulemaking (NPR) to address incentive-based compensation arrangements, as required under section 956 of the Dodd-Frank Act. The NCUA is expected to act on the NPR soon. The proposed rule includes prohibitions intended to make incentive-based compensation arrangements more sensitive to risk, including a prohibition on …
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NCUA reschedules May board meeting
The NCUA Board rescheduled its May open meeting to Wednesday, May 22, the agency announced Monday. It was originally set for May 16. The meeting will begin at 10 a.m. Eastern May 22, and be streamed live on the NCUA’s website. Information about NCUA Board meetings, including open results and agendas, can also be found …