CUNA & NAFCU are now America's Credit Unions.

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July 9, 2024

The Credit Union industry’s most important updates

Introducing Velera ([link removed] )

Debit interchange proposal, final overdraft rule included in rulemaking agenda ([link removed] )

Federal regulators—including the NCUA and CFPB—released their Spring 2024 Unified Agenda of Regulatory and Deregulatory Actions, highlighting potential timelines for upcoming agency actions (but not a definitive schedule with specific timelines). The Federal Reserve’s agenda indicates “further action” on its debit interchange proposal in January 2025. America’s Credit Unions strongly opposes the proposal—which would adjust …

Nussle to SBC: Fed debit interchange proposal should be withdrawn ([link removed] )

America’s Credit Unions President/CEO Jim Nussle reiterated credit unions’ strong opposition to the Federal Reserve’s debit interchange proposal in a letter to the Senate Banking Committee Monday. The letter was sent in advance of Fed Chair Jerome Powell’s appearance before the committee Tuesday. The proposal would adjust all three components of Regulation II’s interchange fee …

Senate FY25 NDAA contains no credit union-related language ([link removed] )

The Senate Armed Services Committee released the text of its FY25 National Defense Authorization Act Monday and it does not contain any language related to credit unions or financial institutions. America’s Credit Unions and the Defense Credit Union Council wrote to the committee last month calling on the committee to reject any unrelated credit union …

NCUA extends CDRLF grant deadline to July 12 ([link removed] )

The NCUA has extended the deadline for applying for 2024 Community Development Revolving Loan Fund (CDRLF) grants to July 12. The agency will administer more than $3.4 million in CDRLF grants to the most-qualified applicants, subject to the availability of funds. The grants page on the NCUA’s website has all the necessary information for submitting …

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Automate to elevate lending performance ([link removed] )

Council Fed Home Loan Bank ([link removed] )

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