A central bank digital currency (CBDC) could negatively impact credit unions and pose broader financial security risks, America’s Credit Unions President/CEO Jim Nussle wrote House Majority Whip Tom Emmer, R-Minn., and Sen. Ted Cruz, R-Texas, who introduced legislation (S.3801/H.R. 5403) that would bar the Federal Reserve from issuing a CBDC. “If the Federal Reserve were …
America’s Credit Unions is concerned by the CFPB’s structure and several recent actions, President/CEO Jim Nussle wrote to a House Financial Services subcommittee ahead of its hearing on CFPB transparency. “[G]iven the broad authority and awesome responsibility vested in the CFPB, a five-person commission has distinct consumer benefits over a single director. Regardless of how …
America’s Credit Unions President/CEO Jim Nussle appeared on Charlotte news station WCNC to discuss how credit unions are working to protect American consumers’ sensitive data. Nussle emphasized that interchange fees are an integral part of how credit unions protect consumers from credit card fraud, which totaled nearly $14 billion in 2023. He added the importance …
America’s Credit Unions President/CEO Jim Nussle wrote to the Senate Banking Subcommittee on Housing, Transportation and Community Development to detail several ways Congress can support credit unions’ efforts to encourage homeownership. “One of the most important things that Congress could do to promote financial inclusion and ensure that access to financial services is equitable would …
