NAFCU

The National Credit Union Administration will hold its final open board meeting of 2018 this week, amid a host of other regulatory and legislative activity.

The regulator claimed Congress has already granted it the authority to define field-of-membership areas.

A recent report – supported by the National Council of Postal CUs – says the USPS is ill-equipped to manage the risks involved in offering banking services.

Hearings of interest to credit unions have been postponed as the government prepares to close for a day of mourning following the death of President George H.W. Bush.

CUNA and NAFCU have asked lawmakers to include a variety of specific provisions in an update to the 2017 tax reform package.

Four members of the Senate Banking Committee are trying to reach a compromise on legislation to revamp Bank Secrecy Act procedures after prior legislative efforts failed.

The National Credit Union Administration is expected to approve its proposed 2019-2020 budget this week, while Congress holds several hearings of interest to CUs.

The industry and its allies have their work cut out for them navigating the political standstill.

The focus since the 2016 election on easing rules, tax cuts and expanding access to credit is about to be turned on its head.

Credit union advocates are keeping a close watch on several races in this week's midterm elections.

Midterm elections are just eight days away and credit unions are making efforts to help get out the vote. Meanwhile, one Virginia-based CU is back in court over alleged ADA violations.

Trade groups are calling on Congress to further delay NCUA's risk-based capital rule and extending a helping hand to red-state Democrats in tough reelection battles.

Credit unions won't have to comply with the controversial rule until at least 2020, but a forthcoming proposal on alternative capital could raise the ire of banking groups.

Trade groups say the National Credit Union Administration hasn't adequately explained how it plans to reduce its budget at the same time it asks Congress for increased oversight powers.

The worldwide week-long celebration of credit unions will include two NCUA board meetings focused on issues that have impacted the last five years and could set the stage for the remainder of the decade.

Analysts are split on whether cyber threats have evolved enough for lawmakers to finally grant the National Credit Union Administration third-party vendor oversight.

Credit unions would not be impacted by the proposal, but the movement has spent much of the last decade telling lawmakers and regulators CUs are being punished for the actions of big banks that led to the financial crisis.

National Credit Union Administration Chairman Mark McWatters called on lawmakers to further expand field-of-membership options for CUs and to permit the regulator to oversee third-party vendors, including fintech partners.

As NCUA Chairman Mark McWatters heads to Capitol Hill, credit unions are facing new threats at the ATM and CU trade groups are writing big checks in advance of midterm elections.

The National Credit Union Administration is eyeing a 1.1 percent funding increase for 2019 for a total of $334.8 million