Feedback on how the CFPB’s overdraft proposal will impact access to financial services for credit unions of all sizes will help America’s Credit Unions in its push for the CFPB to reconsider the proposal. Comments sharing specific concerns and stories will help the bureau understand why consumers opt into regulated overdraft protections. The proposal would …
America’s Credit Unions’ Luke Martone called on the NCUA to “further enhance” its budget transparency in a letter responding to the agency’s request for comment on its overhead transfer rate (OTR) methodology. Martone suggested the agency adopt the proposed clarifying language regarding the four categories used in the OTR calculation to help credit unions better …
Recently proposed changes to the call report require credit unions with $1 billion or more in assets to report fee income they derive from overdraft and nonsufficient funds fees. NCUA published a draft of amended call report instructions in December 2023, effective March 31. America’s Credit Unions’ latest Compliance Blog post examines the proposed changes …
America’s Credit Unions’ Amanda Smith Tuesday provided comments in response to the Treasury Department’s request for information on financial inclusion, highlighting the credit union industry’s commitment to financial inclusion and outlining examples of actions to promote financial inclusion. Smith noted credit unions have enacted several innovative programs to provide financial services to unbanked or underbanked …
