Law and regulation

The 9-0 ruling markedly diminishes the threat of lawsuits involving automated calls and text messages to consumers.

Proposed legislation would amend language in the Federal Credit Union Act to make it easier for credit unions to expel disruptive or abusive members.

Harper is only the third member of the National Credit Union Administration board to chair the council. Blake Paulson, acting comptroller of the currency, has been appointed vice chairman.

Like their counterparts in the U.K., U.S. regulators should be working closely with the private sector to establish principles and guardrails to direct and focus tech advancements in ways that will protect consumers and financial stability.

The 30-day extension comes after the American Bankers Association requested additional time to consider the rule's impact.

Changes to CDFI Fund regulations could make it significantly easier to raise the capital required to get a new institution off the ground.

NCUA Chairman Todd Harper has reiterated his call for CUs not to garnish members' econimic impact payments, while the industry's largest PAC has resumed campaign contributions after a brief pause.

The proposed legislation is similar to a package put forward in 2020 and another introduced in the House in 2019.

Lawmakers this week will continue to discuss extending the Paycheck Protection Program, and the National Credit Union Administration is scheduled to hold its monthly board meeting.

With a steady stream of Senate hearings held on the racial wealth gap and inequities in the financial system, the new chairman has set a consumer-focused agenda that leans further left than even past Democratic chairs.