The U.S. Supreme Court ruled Thursday that the CFPB’s funding structure does not violate the constitution, overturning a decision from the U.S. Court of Appeals for the Fifth Circuit. “The Court’s decision to side with the CFPB is one of acute consequence to credit unions and their 142 million members who are suffering from the …
Credit unions are experiencing an unprecedented battle on non-interest income, America’s Credit Unions Chief Advocacy Officer Carrie Hunt wrote to NCUA Chairman Todd Harper and CFPB Director Rohit Chopra Thursday, stressing these challenges stem from the actions of both agencies. “These challenges will result in a change to the credit union business model, making it …
The House Financial Services Committee passed the America’s Credit Unions-supported CDFI Fund Transparency Act (H.R. 3161) Thursday by a voice vote. The bipartisan bill would require Congressional testimony on the Treasury’s Community Development Financial Institutions (CDFI) Fund’s operations and activities. “Increased transparency into the CDFI Fund would ensure all entities – both the government and …
America’s Credit Unions Chief Advocacy Officer Carrie Hunt and Senior Vice President of Advocacy Greg Mesack Thursday met with the Treasury Department’s Deputy Assistant Secretary for Financial Institutions Jeanette Quick and several members of the Office of Financial Institutions team to discuss several credit union priorities. Hunt and Mesack briefed Treasury staff on the state …
