Links in “CUNA”
- Regulatory Burden or Regulatory Assault?
In addition to Linda McFadden, CUNA testified at a hearing of the Senate Banking Committeee yesterday to suggest ways Congress could lighten the regulatory load on small financial institutions. Senator Mike Crapo noted that "small entities can only withstand the regulatory assault for so long before considering a merger or consolidation" and "disappearing from the American landscape." [9/17/14]
- CUNA to Credit Unions: You Can Do It. We Can Help.
The Credit Union National Association is asking its member credit unions to record the effect of the Home Depot breach on their members as they receive breach notifications. Of great interest is the cost of retailer breaches to credit unions. [9/17/14]
- Topic of the Day: Regulatory Burden
The regulatory burden on credit unions is the topic of three separate articles today. The first discusses Linda McFadden's testimony to the Senate Banking Committee why "enough is enough" regarding overregulation of credit unions. The second relates to the same hearing, but focuses on CUNA's testimony that will hopefully be "an important step toward preparing...bills for Senate consideration." The third features another testimony by CUNA, this time to the FHFA about how safety and soundness do not justify overregulation. [9/16/14]
- Credit Union Popularity Causes Washington to Think Twice
In part due to credit unions reaching the milestone of 100 million members, CUNA is hosting a forum for Washington legislators regarding the regulatory burden on credit unions. It will be streamed online Wednesday. [9/15/14]
- Mobile Services Could Be Key to Serving the Unbanked
An FDIC white paper points out that 90% of the underbanked and unbanked have a mobile phone and 71% have a smart phone. CUNA is urging the CFPB to minimize the regulatory burdens associated with offering mobile banking services so that credit unions and smaller institutions can pursue this avenue. [9/11/14]
- CUNA Names New CEO
CUNA has hired Jim Nussle, a former 8-term Congressman from Iowa, as its new President/CEO. Nussle, who also served as the Director of the Office of Management and Budget under President George W. Bush, is scheduled to take the reins from interim President/CEO Bill Hampel in the next few weeks. [9/10/14]
- NAFCU, CUNA Urge FHFA Not to Increase G-Fees
NAFCU and CUNA are urging the Federal Housing Finance Agency to drop its proposal to, among other things, increase the guaranty fee (G-fee) as the increase could adversely impact the housing market. The G-fees are charged by FNMA and FHLMC to protect their portfolios against credit losses. [9/9/14]
- Hampel Refutes ABA CEO on Credit Union Difference
In a Friday column in the American Banker, interim CUNA President/CEO Bill Hampel pointed out that the real reason for credit unionsâ success is their cooperative structure and the trust that they have earned from their members. Hampel was refuting the ABA chiefâs claim that credit unions have been successful due to their tax exemption. [9/8/14]
- CUNA Names Task Force to Study CUNA Structure
CUNA Chairman Dennis Pierce has announced the appointment of a 12-member task force to look at the CUNA structure and governing options for its credit union members. Recommendations from the task force are expected to be presented to the CUNA board next spring. [9/5/14]
- CUNA Recommends Changes to Regulatory Review Process
Federal bank regulators are required to review their regulations at least once every 10 years. CUNA recommends that NCUA establish a regulatory review working group of publicly-elected credit union officials and NCUA staff that could make annual recommendations to improve, reduce, or eliminate regulations, reporting requirements, and other directives. [9/4/14]
