March 15th, 20183105The Senate provided a victory for credit unions when it passed the bipartisan Economic Growth, Regulatory Relief and Consumer Protection Act Wednesday.
S. 2155 rolls back certain aspects of the 2010 Dodd-Frank Act, which was established to police the financial services industry after the financial crisis. Broadly, the new bill would ease burdens on community banks and credit unions, which are currently treated the same as large financial institutions under Dodd-Frank.
"The regulatory relief this bill provides is a major step forward in moving way from a system that treats credit unions and community banks the same as the biggest...
March 13th, 20180285The Senior Vice President of Branch Delivery and Operations at Delta Community Credit Union has been elected chairman of the American Credit Union Mortgage Association Board of Directors.
Pam Davis has more than 20 years of experience in credit union real-estate lending and will serve a two-year term as ACUMA's chairman. She succeeds Mark Wilburn, senior vice president and chief lending officer at Truity Credit Union in Bartlesville, Okla.
ACUMA provides resourcs and education to credit unions aimed at streamlining performance, processes and procedures for real estate lending services, according to a CUInsight article.
"ACUMA...
March 9th, 201848159A credit union from Glasgow recently visited Peach State Federal Credit Union for educational purposes.
NHS Credit Union considers Peach State FCU a partner.
"We now look forward to welcoming our Peach State partners back to Glasgow to show them more of what this city has to offer," NHS CEO Robert Kelly said in a Glasgow Chamber of Commerce article.
The Scottish credit union members also visited CUNA's GAC Conference in Washington D.C. on their trip to the U.S.
"We had the chance to see how the world leaders from the credit union industry went about their business, develop connections that will prove invaluable and listen to...
March 9th, 2018099The following is an opinion article written by Georgia Credit Union Affiliates CEO Mike Mercer.
In Georgia, credit unions and community banks help our communities thrive. In those communities the primary lenders are credit unions and community banks. But the local financial institutions are facing challenges brought on by Washington bureaucrats. Now's the time to loosen the regulatory restrictions that are limiting their ability to help their communities.
That's why a group of Senators from both sides of the aisle have put together a common-sense piece of legislation that delivers on what it promises: to better allow credit union...
March 1st, 201826104The Credit Union National Association took issue with a number of points in a letter retailers recently wrote to Congress concerning data breaches.
"Retailers are attempting to push back against strong national data security standards, despite a lack of such standards causing major data breaches that bring additional costs to credit unions," according to a CUNA press release.
CUNA said the retailers' letter claimed NCUA's requirements on financial institutions were "not mandatory." But the industry has been subject to heavy regulations and strict standards spelled out in the Gramm-Leach-Bliley Act, enacted in 1999.
"NCUA and other...
February 28th, 201832304This article was written by Sara Watkins for GCUA.
Every inspired idea has to start somewhere. For the African-American Credit Union Coalition (AACUC), it started with a simple conversation among a group of Georgia credit union professionals who shared a desire to get to know other African American professionals in their industry.
“In our mind, it was the Georgia-based credit union leaders who were the catalyst for conceiving AACUC,” said Renée Sattiewhite, Executive Director of Atlanta-based AACUC.
Over the last 20 years, from Georgia to the rest of the country, AACUC has more than lived up to its mission to increase...
February 28th, 2018189The House passed a CUNA-approved act amending the Real Estate Settlement Procedures Act on Tuesday.
According to the Credit Union National Association, the TRID Improvement Act of 2018, or H.R. 5078, would require the Consumer Financial Protection Bureau "to allow the accurate disclosure of title insurance premiums and any potential available discounts to home-buyers."
CUNA President and CEO Jim Nussle said the legislation would "reduce confusion associated with the ability for title insurance companies to disclose available discounts."
"This kind of targeted regulatory relief benefits credit unions and consumers, who will have...
February 27th, 20180100Credit union leaders chatted with President Donald Trump about regulatory relief Monday.
>>Related: Former President George W. Bush speaks at CUNA Governmental Affairs Conference<<
The leaders, including CUNA President and CEO Jim Nussle, left CUNA's Governmental Affairs Conference briefly to have the conversation with Trump, according to a CUNA article. The group talked to the president about the burdens facing credit unions and what government could do to fix them, including supporting S. 2155, the Senate's bipartisan regulatory relief bill.
"We shared our dissatisfaction with the regulatory burden in place,"...
February 26th, 2018197A total of 5,000 credit union professionals from around the country gathered to listen as former President George W. Bush spoke at CUNA's Governmental Affairs Conference.
CUNA President and CEO Jim Nussle interviewed the 43rd president of the United States on topics including relationships with China, Mexico and North Korea, lessons learned during
his presidency, qualities needed to be an effective leader and the importance of public service and meeting the needs of everyday Americans.
"Gaining insight from our past can help guide us moving forward," Nussle said. "It was truly my pleasure to discuss the current state...
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