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CUNA attended a FASB roundtable on implementation issues associated with the new CECL accounting standard. FASB staff and several Board members facilitated the discussion that focused on a proposal submitted by a group of banks to consider an alternative to the income statement impact of the CECL model.
The U.S. District Court for the Southern District of Texas dismissed a lawsuit filed against a Houston-based state-chartered credit union. The lawsuit alleged the credit union’s website violated the Americans with Disabilities Act (ADA).
In a press release Friday evening, the Consumer Financial Protection Bureau Director Kathleen Kraninger announced leadership changes within the Bureau. These changes announced were: Policy Associate Director for External Affairs; West Regional Director; Acting Chief Communications Officer; Deputy Associate Director for External Affairs; and the Director for the Office of Minority and Women Inclusion.
Both the House and Senate are in session this week. President Trump and Congressional leaders agreed Friday to a deal to reopen the federal government through February 15th. However, the Congress will have to commit to further negotiations with the president on an agreement to fund the federal government through September 30th, the end of fiscal year 2019.
President Donald Trump signed a bill Friday evening funding the government through Feb. 15, ending the partial government shutdown. CUNA President/CEO Jim Nussle thanked America’s credit unions for their efforts serving members who were furloughed.
Credit unions around the country started rolling out offerings to help affected members as soon as the shutdown began, and continued rolling out additional services, such as fee-free payment skip, 0% APR loans and other financial solutions.
CUNA Chief Advocacy Officer Ryan Donovan and Deputy Chief Advocacy Officer Elizabeth Eurgubian participated in a financial services industry roundtable discussion Thursday with Consumer Financial Protection Bureau Director Kathy Kraninger. Kraninger was confirmed as CFPB director in December.
Without having been asked by the government, credit unions are doing the right thing and assisting the federal workers furloughed by the federal government shutdown, CUNA wrote to Rep. Maxine Waters (D-Calif.) Wednesday. Waters, chair of the House Financial Services Committee, reached out to CUNA for information on how credit unions are assisting those affected by the federal government shutdown.
CUNA and the Michigan Credit Union League (MCUL) filed amicus briefs late Tuesday defending two credit unions hit with frivolous lawsuits alleging violations of the Americans with Disabilities Act (ADA). The briefs were filed in the Sixth Circuit Court of Appeals in support of Belle River Community CU, Casco, Mich., and Aeroquip CU, Jackson, Mich., both of which are being sued by the same plaintiff.
On January 22nd, CUNA filed a comment letter with NCUA on fidelity bonds. In the letter, CUNA raises concerns with aspects of NCUA’s proposed regulation.
Both the House and Senate are in session this week. The federal government today enters its 32th day of the partial shutdown. The Congress continues to negotiate with the president on an agreement to fund the federal government through the end of fiscal year 2019.
Director Kraninger wrote to the House and Senate requesting that the CFPB be granted the authority to conduct examinations for compliance with the MLA.
The Ninth Circuit Court of Appeals issued an opinion in Guillermo Robles v. Dominos Pizza LLC, a case involving the ADA as it relates to website accessibility.
The NCUA Board held its first meeting of the year. The Board approved the agency’s 2019 Annual Performance Plan, adopted a final rule on the Civil Money Penalty Statutory Inflation Adjustment, approved a change to the Illinois Member Business Lending Rule, and received a briefing on the agency’s redesigned website.
Senate Republicans and Democrats announced and ratified their committee assignments for the 116th Congress.
On Wednesday, January 16th, the White House re-nominated Rodney Hood to be a member of the NCUA for a term expiring August 2, 2023.
CUNA sent a letter to the Senate Special Committee on Aging ahead of today's hearing entitled, "Fighting Elder Fraud: Progress Made, Work to be Done.”
The Supreme Court of the United States (SCOTUS) declined to accept and hear a case challenging the constitutionality of the CFPB.
CUNA filed a comment letter with NCUA, opposing and supporting various aspects of its FCU bylaws proposal.
Both the House and Senate are in session this week. The federal government today enters its 24th day of the partial shutdown. The Congress continues to negotiate with the president on an agreement to fund the federal government through the end of fiscal year 2019. The House will also consider H.R. 268, the Supplemental Appropriations Act, legislation to fund disaster relief operations. In addition, the Senate will resume consideration of S. 1, the Strengthening America’s Security in the Middle East Act.
America’s credit unions are embodying their structure and mission to ensure their members affected by the government shutdown have access to low- or no-interest loans with generous repayment terms.
The U.S. Court of Appeals for the 9th Circuit held that Fannie Mae is not a “consumer reporting agency” under the FCRA and therefore is not liable under the law.
The CFPB released the assessment reports required by Section 1022(d) of the Dodd-Frank Act for two of its 2013 mortgage rules: the TILA Ability-to-Repay and Qualified Mortgage (ATR/QM) Rule and the RESPA Mortgage Servicing Rule.
NCUA joined with four other federal financial regulators and the Conference of State Bank Supervisors to urge financial institutions to consider efforts to assist workers affected by the federal government shutdown.
In a letter addressed to Chief Executive Officers and Boards of Directors for credit unions, the National Credit Union Administration has outlined it supervisory priority areas for 2019.
CUNA wrote to leadership of the House and Senate Appropriations Committees Monday to include House report language in any final appropriations legislation for fiscal year 2019.
CUNA sent the first in a series of letters to the newly sworn-in 116th Congress.
Both the House and Senate are in session this week. The Congress continues to negotiate with the president on an agreement to fund the federal government through the end of fiscal year 2019.
In addition, the Senate will resume consideration of S. 1, to make improvements to certain defense and security assistance provisions and to authorize the appropriation of funds to Israel, to reauthorize the United States-Jordan Defense Cooperation Act of 2015.
2018 was a watershed year for CUNA/league/credit union
advocacy. Our accomplishments last year during a turbulent political time stand
out over any of the last 20 years of credit union advocacy, making it a story
that deserves to be told. And as we consider all of our 2018 wins, we are ready
more than ever before to take on a new year and new Congress.
The Fourth Circuit of Appeals has ruled in favor of Department of Labor Federal Credit Union (DOL FCU) related to a frivolous lawsuit alleging website noncompliance with the Americans with Disabilities Act (ADA).
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© 2019 Credit Union National Association
ADA Compliance Notice & Legal
© 2019 Credit Union National Association
ADA Compliance Notice & Legal