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NAFCU is now America's Credit Unions.

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January 11, 2024

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Bipartisan bill would allow increased federal credit union loan maturities ([link removed] )

A bipartisan group of representatives Wednesday introduced a bill to increase federal credit union loan maturity limits. America’s Credit Unions President/CEO Jim Nussle thanked cosponsors—Reps. Scott Fitzgerald, R-Wis., Juan Vargas, D-Calif., Young Kim, R-Calif., and Brad Sherman, D-Calif.—for introducing the legislation. Specifically, it would allow federal credit unions to make loans with maturities up to …

Nussle highlights credit union concerns on DOL fiduciary rule ([link removed] )

A Department of Labor (DOL) proposed rule that would redefine who is an investment advice fiduciary as part of the Employee Retirement Income Security Act was the focus of a congressional hearing Wednesday. America’s Credit Unions President/CEO Jim Nussle wrote to the House Financial Services Subcommittee on Financial Services and Capital Markets ahead of its hearing …

Credit unions look to improve housing access, reduce ownership gaps ([link removed] )

Credit unions look forward to engaging with Congress to develop solutions to improve access to housing and reduce gaps in homeownership rates, President/CEO Jim Nussle wrote the House Financial Services Committee Wednesday. The committee will hold a hearing today on oversight of the Department of Housing and Urban Development (HUD). “Credit unions support legislation and …

Senate fails to overturn veto of section 1071 rule ([link removed] )

The Senate Wednesday failed to garner the two-thirds majority needed to overturn President Joe Biden’s veto of the CFPB’s section 1071 rule. Biden vetoed the congressional resolution of disapproval in December, following successful credit union advocacy to get it through both chambers. The section 1071 rule, which would require credit unions and banks to collect …

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