NAFCU

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