Links in “CUNA”

NCUA Board member Mark McWatters has confirmed to CUNA that he would support the addition of a provision in the proposed risk-based capital rule that would provide credit unions the opportunity to use supplemental capital to meet their RBC requirements. The NCUA Board is scheduled to take up the new proposed rule at its January 15^th meeting. [12/11/14]

CUNA has written to the FCC in support of an exemption for credit unions and other financial institutions from provisions of the Telephone Consumer Protection Act that restrict automated calls to mobile devices. CUNA argues that financial institutions should be able to send non-telemarketing messages that address topics such as fraud or identity theft alerts, possible data breaches, or concerning actions needed to arrange for receipt of pending money transfers. [12/9/14]

SBA loans can be an important lending tool for credit unions, since the portions of the loan guaranteed by the SBA, usually from 50% to 90%, do not count against a credit union's member business lending cap. Although credit union SBA lending has increased by 50% over the past 2.5 years, many credit unions are still not taking advantage of this member business lending opportunity. [12/5/14]

CUNA has three nominees for the open positions on its Board of Directors: Winona Nava (president/CEO of Guadalupe CU), Donna Neal (president/CEO of My Community FCU), and Peter Dzuris (president/CEO of Northland Area FCU). [11/21/14]

According to NAFCU and CUNA the answer is “yes” and it is the reason that retailers need to be subjected to the same level of regulation as financial institutions. Specifically, NAFCU and CUNA are telling Congress that retailers must be required by regulation to protect consumer data, as well as being required to notify consumers when  a breach has occurred. See also. [11/13/14]

CUNA says that NCUA needs to exercise restraint since its budget has increased by 51% since 2009, particularly since credit unions’ financial health has steadily improved. CUNA added that having no access to the standards for raises and other increases for NCUA staff, whose pay and benefits comprise 73% of the agency's budget, is one issue NCUA needs to address. [11/10/14]

CUNA President/CEO Jim Nussle says that the results of the midterm elections are overwhelmingly positive for credit unions, but there is still work to do to bring the newly elected up to speed on specific credit union issues. [11/6/14]

While CUNA is pleased that NCUA has decided to remove interest rate risk considerations from the proposed risk-based capital rule, it is concerned about NCUA issuing a separate IRR rule. CUNA CEO Jim Nussle stated that the agency already has rules on the books to address IRR and that another regulation is not necessary. [11/5/14]

In a letter to NAFCU and CUNA signed by the Retail Industry Leaders Association, the National Association of Convenience Stores and other organizations accused credit unions of using misleading arguments with the media and before Congress. The groups argue that 34% of the data losses that have occurred this year have been at financial institutions, while only 11% affected retailers. In addition, the groups criticized credit unions for being slow in adopting chip and PIN technology. [11/3/14]

CUNA President/CEO Jim Nussle in a recent op-ed piece in the New York Times highlighted credit union programs that help their members end the payday lending and predatory lender cycles, while encouraging savings. Nussle’s comments were in response to a previous editorial that asked how to best protect consumers who need help in restoring their credit. [10/28/14]