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Credit unions attend discussion on barriers for justice-impacted individuals

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Credit unions were represented Friday at a roundtable hosted by the U.S. Department of Treasury on addressing barriers in financial services for justice-impacted individuals. America’s Credit Unions’ Samira Salem and Clement Abonyi attended, in addition to several credit unions.   The event—hosted by CNN commentator and former South Carolina state Rep. Bakari Sellers—featured discussions on …

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Panel echoes credit union recommendations on FCRA proposal

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A Small Business Regulatory Enforcement Act (SBREFA) panel convened by the CFPB shared several recommendations made by America’s Credit Unions regarding the bureau’s Fair Credit Reporting Act (FCRA) proposal. The CFPB published its report from the panel Wednesday. This follows a CFPB outline of FCRA proposals under consideration published in September, which America’s Credit Unions …

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Rep. Fitzgerald urges support for loan maturity bill on House floor

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Rep. Scott Fitzgerald, R-Wis., spoke on the House floor Thursday in support of his bill that would allow federal credit unions to make loans with maturities up to 20 years. Fitzgerald introduced the America’s Credit Unions-supported legislation with Reps. Juan Vargas, D-Calif., Young Kim, R-Calif., and Brad Sherman, D-Calif. “My bill, the Expanding Access to …

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DEI, annual performance plan on NCUA Board agenda 

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The NCUA released the agenda for its January Board meeting, noting that the agency will receive a briefing on its 2024-2026 Diversity, Equity, Inclusion, and Accessibility strategic plan and discuss its 2024 annual performance plan.  The NCUA’s performance plan provides specific direction and guidance toward achieving the mission and the strategic goals and objectives outlined …

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economic charts

Inflation slightly increased in December

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The Bureau of Labor Statistics Thursday released its monthly consumer price index report for December. America’s Credit Unions’ Senior Economist Dawit Kebede provided an analysis of the 0.3 percent increase consumers saw last month after slowing down in the prior two months, resulting in a 3.4 percent rate over the last 12-months.  “Core inflation, a …

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Bipartisan bill would allow increased federal credit union loan maturities

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A bipartisan group of representatives Wednesday introduced a bill to increase federal credit union loan maturity limits. America’s Credit Unions President/CEO Jim Nussle thanked cosponsors—Reps. Scott Fitzgerald, R-Wis., Juan Vargas, D-Calif., Young Kim, R-Calif., and Brad Sherman, D-Calif.—for introducing the legislation. Specifically, it would allow federal credit unions to make loans with maturities up to …

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Nussle highlights credit union concerns on DOL fiduciary rule 

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 A Department of Labor (DOL) proposed rule that would redefine who is an investment advice fiduciary as part of the Employee Retirement Income Security Act was the focus of a congressional hearing Wednesday. America’s Credit Unions President/CEO Jim Nussle wrote to the House Financial Services Subcommittee on Financial Services and Capital Markets ahead of its hearing …

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Credit unions look to improve housing access, reduce ownership gaps

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Credit unions look forward to engaging with Congress to develop solutions to improve access to housing and reduce gaps in homeownership rates, President/CEO Jim Nussle wrote the House Financial Services Committee Wednesday. The committee will hold a hearing today on oversight of the Department of Housing and Urban Development (HUD). “Credit unions support legislation and …

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Senate fails to overturn veto of section 1071 rule

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The Senate Wednesday failed to garner the two-thirds majority needed to overturn President Joe Biden’s veto of the CFPB’s section 1071 rule. Biden vetoed the congressional resolution of disapproval in December, following successful credit union advocacy to get it through both chambers. The section 1071 rule, which would require credit unions and banks to collect …

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