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News Now

Washington
Cheney Report Previews the Busy Year Ahead
WASHINGTON (12/30/13)--A busy 2014 is shaping up for credit unions, and Credit Union National Association President/CEO Bill Cheney details the full plate that lies ahead in this week's edition of The Cheney Report.

CUNA priorities in 2014 will include protecting credit unions, obtaining regulatory relief and enhancing the credit union charter, Cheney wrote. Other top issues include:
  • Continuing the national conversation about the credit union tax status and the value credit unions bring to the financial marketplace, and how their tax status helps support good public policy, through grassroots outreach and education efforts;
  • Containing any new unnecessary or burdensome regulation from any agency, including the National Credit Union Administration and the Consumer Financial Protection Bureau;
  • Ensuring that credit unions are fully prepared for the new regulations set to take effect in 2014;
  • Stressing that on risk-based net worth, case-by-case judgment is better, and urging NCUA to focus on addressing problems at the individual institution level rather than under a broader rulemaking approach;
  • Urging NCUA to work with the credit union system to continue to support statutory capital reform;
  • Addressing ongoing concerns with examiner directives that seem arbitrary and highly subjective;
  • Advising against additional corporate assessments;
  • Ensuring credit union access to the secondary market is maintained;
  • Working to increase authority for member business lending;
  • Seeking forms of supplemental capital for credit unions; and
  • Helping the credit union movement to "Unite for Good."
"And all of this is just for starters. No doubt, as the year progresses, more issues will come our way, and more challenges will be presented to all of us," Cheney wrote.

For the full Cheney Report, use the resource link.
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The Cheney Report
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