News Topic: Law and regulation

Changes to CDFI Fund regulations could make it significantly easier to raise the capital required to get a new institution off the ground. ]] ... Read full article

NCUA Chairman Todd Harper has reiterated his call for CUs not to garnish members' econimic impact payments, while the industry's largest PAC has resumed campaign contributions after a brief pause. ]] ... Read full article

The proposed legislation is similar to a package put forward in 2020 and another introduced in the House in 2019. ]] ... Read full article

Lawmakers this week will continue to discuss extending the Paycheck Protection Program, and the National Credit Union Administration is scheduled to hold its monthly board meeting. ... Read full article

With a steady stream of Senate hearings held on the racial wealth gap and inequities in the financial system, the new chairman has set a consumer-focused agenda that leans further left than even past Democratic chairs. ... Read full article

The legislation would extend the Paycheck Protection Program for two months and give the Small Business Administration more time to remedy persistent system glitches that have delayed the processing of thousands of loan applications. ... Read full article

The American Bankers Association has requested more time to respond to a proposal that would expand lending authority for credit union service organizations. ... Read full article

The industry saw deposits rise by nearly 20% last year, in part due to economic stimulus measures from the government. More of the same could be coming once President Biden signs the latest stimulus bill into law. ... Read full article

In remarks at CUNA’s online Governmental Affairs Conference, the chairman of the National Credit Union Administration called for the creation of new initiatives around compliance for fair credit reporting and truth in lending. ... Read full article

The industry will have to contend with thin margins on either side of the aisle in Congress and new priorities from regulators, experts said in a panel discussion held as part of CUNA's online Governmental Affairs Conference. ... Read full article

The pandemic is likely to dominate the discussion during CUNA’s online Governmental Affairs Conference, but perennial issues such as the industry’s tax exemption will also be spotlighted. ... Read full article

The Credit Union National Association’s Governmental Affairs Conference, normally the industry's biggest annual event, will be held this week in a virtual setting, a change that would have seemed unthinkable one year ago. ... Read full article

The sale has revived a long-running feud between former chairmen Mark McWatters and Rodney Hood, who tweeted, "Credit unions deserve better stewardship of agency resources.” ... Read full article

Todd Harper, chairman of the National Credit Union Administration, said new assessments are likely needed because of an influx of deposits, but industry groups and other board members say the agency should wait to see if the reserve ratio recovers on its ... Read full article

The nod from the Federal Reserve is seen as a significant step toward eventually freeing the bank from a 2018 order that imposed a cap on its assets. ... Read full article

In a volume that is decades in the making, retired law professor Art Wilmarth tells the story of the Glass-Steagall Act — its origins, demise and aftermath. He also makes a case for restoring the separation between banks and securities firms, arguing that ... Read full article

A plan to make expansion easier for credit unions is getting pushback not just from bankers, but also from the regulator's current chairman and a former board member. ... Read full article

The working group's final report is still forthcoming, but the trade association has already begun assembling a new team focused on the industry's digitization efforts in the wake of the pandemic. ... Read full article