Credit card survey data shows that credit unions and smaller banks offer lower interest rates than the 25 largest credit card companies, according to a CFPB report released Friday. “The CFPB’s new report on the credit card market clearly shows the credit union difference: Credit unions offer more affordable credit solutions to Americans than the …
“Credit unions will never apologize for putting people over profit,” America’s Credit Unions President/CEO Jim Nussle and African-American Credit Union Coalition (AACUC) President/CEO Renee Sattiewhite wrote in CUInsight Friday. “The Community Reinvestment Act (CRA) was created to protect minority and low-income communities from the damage done by redlining and other discriminatory practices from banks,” they …
The NCUA issued a Regulatory Alert to provide information on which credit unions must comply with the Home Mortgage Disclosure Act (HMDA) reporting requirements under the CFPB’s Regulation C. In the alert, the NCUA explained that credit unions must collect HMDA data associated with mortgage loan applications processed during 2024 if the credit union meets …
The CFPB issued a procedural rule Friday updating the process by which financial institutions can appeal supervisory findings. The updated rule broadens CFPB officials eligible to evaluate appeals, options for resolving an appeal, and matters subject to appeal for institutions seeking to appeal a compliance rating or adverse materials finding. The changes in Friday’s updated …
This week, while both the House and Senate are back in their states and districts for the Presidents Day recess, America’s Credit Unions continues to push for credit union priorities with regulators and key decisionmakers. Of note, the full list of keynote speakers that will present at this year’s Governmental Affairs Conference (GAC) is now …
