Credit unions were front and center as Rep. Zach Nunn, R-Iowa, announced on Monday that he plans to introduce the Rural Credit Access Act to increase accountability and transparency in the Treasury’s Community Development Financial Institutions (CDFI) Fund with Rep. Don Davis, D-N.C. Nunn made Monday’s announcement at Veridian Credit Union’s Des Moines branch with …
Comments and feedback on the CFPB’s proposal on instantly declined transactions will help America’s Credit Unions shape the discussion and address credit union needs. The latest Regulatory Comment on the proposal was issued Monday with a summary, list of questions for credit unions to consider, and more. The proposal would prohibit financial institutions from charging …
The Federal Financial Institutions Examination Council (FFIEC)—of which the NCUA is a member—Monday issued a statement on examination principles related to valuation discrimination and bias for member entities to consider in their consumer compliance and safety and soundness examinations. The principles aid in assessing whether supervised institutions’ compliance and risk management practices are “appropriate to …
Rep. Ken Calvert, R-Calif., congratulated America’s Credit Unions on its transformation, recognizing the unified voice for the credit union industry and his high expectations for the new organization. “As a long-time credit union member and supporter, I appreciate the difference between credit unions and banks. Credit unions are not-for-profit financial cooperatives that are democratically controlled,” …
Fannie Mae and Freddie Mac – the government-sponsored enterprises (GSEs) – announced a temporary enhancement to certain programs that will offer eligible creditworthy, very low-income homebuyers earning 50% of area median income or less a $2,500 credit that may help with down payment and other costs at closing. The enhancements are effective March 1 and …
