March 1st, 201826107The 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, 201832313This 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, 20181103The 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, 20180108Credit 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, 20181106A 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...
February 23rd, 20181231The Georgia credit Union League joined the Credit Union National Association and the National Association of Federally-Insured Credit Unions in filing an amicus brief defending a credit union hit with a lawsuit over overdraft services.
The amicus brief was filed with the U.S. Court of Appeals for the 11th Circuit to defend LGE Community Credit Union, a credit union based in Marietta, in Tims v. LGE Community CU. The lawsuit is one of 30 class action suits against credit unions and community banks challenging their method of assessing overdraft fees based on the "available balance" rather than the "ledger balance" in member...
February 23rd, 201831387At least four Georgia credit unions have joined 31 other credit unions nation-wide that have partnered with online car dealership Carvana in the last few months.
"Our model is aligned with credit unions," said Chief Product Officer Dan Gill in a Credit Union Journal article. "We roll out our business one market at a time. We do targeted marketing in the geography where we are present. Credit unions tend to have geographically centered memberships. They also have a reputation for great service and great rates. We align with that credit union philosophy."
(Credit Unions) also have a reputation for great service and great rates. We align...
February 23rd, 20180135Nearly a dozen Illinois credit unions are now taking advantage of a loan program offered through a CUSO developed by Georgia Credit Union Services and three Georgia CUs, according to a CUInsight article.
Up until recently, state-chartered credit unions weren't allowed to invest in these sorts of loan pools.
The CULS Loan Program is offered through LSC and Credit Union Loan Source, which was organized and chartered in 2004 by Georgia Credit Union Services, Inc., Delta Community Credit Union, Atlanta Postal Credit Union and Georgia's Own Credit Union.
"The CULS participation model originates prime and super prime loans and provides...
February 22nd, 20180115CUNA President / CEO Jim Nussle recently weighed in against a bill in Iowa senate that would place an additional tax on credit unions.
Senate Study Bill 3197 would raise taxes on Iowa credit union members and reduce taxes on banks an their stockholders — many of whom do not live in the state. Nussle wrote a letter to Iowa Senate members about the proposed legislation on Thursday.
"It would make it more expensive for Iowans to access safe and affordable credit provided by not-for-profit financial cooperatives," Nussle wrote. "This legislation is bad for Iowa and we urge this body to soundly reject it."
Nussle, a native Iowan,...
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