The Credit Union National Association last week renewed its effort to convince the Financial Accounting Standards Board to amend the controversial Current Expected Credit Losses standard, contending that credit unions should not have to comply with it.
The Federal Credit Union Act was last rewritten in 1998 and it is sorely outdated for the 21st Century, Credit Union National Association President/CEO Jim Nussle told the Senate Banking Committee in a letter last week.
Postal banking has arrived.
At least in a small way.
The U.S. Postal Service is testing a pilot program in four locations that allows customers to use payroll checks and business checks to purchase gift cards, a Postal Service spokesperson said Monday.
The nation’s community bankers are urging a House subcommittee to use an upcoming hearing to investigate the purchase of community banks by credit unions.
The Credit Union National Association will hold its annual Governmental Affairs Conference in-person Feb. 27-March 3, 2022 at the Walter E. Washington Convention Center in Washington, D.C.
Republicans and financial trade groups, including the National Association of Federally-Insured Credit Unions, are asking Congress to drop a Small Business Administration proposal to allow it to expand its direct lending programs.
Greg Mesack, a lobbyist with the firm of GrayRobinson, has been named senior vice president of government affairs at the National Association of Federally-Insured Credit Unions.
The loss of the credit union tax exemption would result in a $56 billion loss in income tax revenue over the next ten years, according to a study commissioned by the National Association of Federally-Insured Credit Unions.
As the House Financial Services Committee prepares for a markup of legislation next week, the National Association of Federally-Insured Credit Unions is asking the panel to consider legislation that would allow credit unions to expand their services to underserved areas.
A credit union may only make loans to members within their field of membership, a restriction likely to skew an institution’s housing discrimination record, trade groups told the Department of Housing and Urban Development this week.