Blog
- A Toast to Excellence: Recognizing JT Blau and CeJae Vtipilson’s AACUL Appointments
April 4, 2024Your League is delighted to share the news of JT Blau and CeJae Vtipilson’s recent appointments to the AACUL Strategy Work Groups. As these work groups kick off their initiatives this April, JT and CeJae are set to bring their specialized knowledge to the forefront of credit union advocacy and strategy.
- REGular Blog: Swipe Fee Settlement Reached Between Visa, Mastercard, and Merchants
March 26, 2024On Tuesday morning, news broke that a landmark antitrust class action settlement had been reached between U.S. merchants, Visa, and Mastercard related to swipe fees.
- Weekly Roundup: 3/22/2024 - March Madness Edition
March 22, 2024This week’s REGular blog weekly roundup covers the latest in regulatory compliance impacting credit unions, including an update on legal challenges to the CFPB’s credit card late fee rule, interchange efforts, government funding, and the latest data from the NCUA showing trends in credit union balance sheets and income statements.
- CDFI Fund to Conduct Webinar on Title VI Compliance Worksheet
March 19, 2024The Treasury’s Community Development Financial Institutions (CDFI) Fund and Office of Civil Rights and Equal Employment Opportunity (OCRE) will conduct a live webinar to assist organizations in understanding the requirements of the CDFI Fund’s Title VI Compliance Worksheet.
- Compliance Blog: ChexSystems Reports
March 19, 2024America's Credit Unions Compliance Blog: Many credit unions choose ChexSystems reports to determine whether a person may open a share account. Ultimately, this method is a risk-based business decision for the credit union to make, but you may want to understand a few basic things when pulling this type of report to confirm or deny a share account.
- League Urging Lawmakers to Avoid Looming Partial Federal Government Shutdown
March 19, 2024White House and congressional negotiators agreed Monday evening to fund the Department of Homeland Security along with nearly three-quarters of the federal government — starting a sprint on Capitol Hill to pass the legislation before a government shutdown deadline this weekend. Your League continues to urge lawmakers to avoid a federal government shutdown, as even partial ones would have an outsized impact on our regional economy.
- Coming Call Report Changes for Large CUs On Overdraft, NSF Income Reporting: What You Need to Know
March 19, 2024We continue to field questions from credit unions about NCUA having amended the Call Report to require large credit unions (in this case meaning more than $1 billion in total assets) to report income from overdraft fees and NSF fees.
- League Welcomes News CFPB Taking Industry Feedback into Consideration on Final 1033 Rule, But Concerns Remain on Overall Impact
March 15, 2024In a speech on Thursday, CFPB Director Rohit Chopra said the bureau would be responsive to recommendations from the industry on the CFPB’s section 1033 proposed rule. The proposal covers consumer access to financial data and depends largely on the recognition of an organization to set a qualified industry standard to aid compliance. The proposal would require financial institutions and others to share information – at a consumer’s request and at no cost – with other businesses that offer competing products. "While we welcome the news that industry feedback will factor into some aspects of the final rule, we are justifiably concerned about the rule's overall impact on credit unions," said League Chief Advocacy Officer JT Blau.
- League Compliance Roundtable - March 2024
March 15, 2024Count on your League to help you manage today's complex regulatory compliance environment! In our March 13 virtual meeting, topics included news and notes from the Virginia General Assembly, recent proposals by the CFPB on fees, coming changes to the NCUA Call Report and small estate affidavits. JT Blau (Chief Advocacy Officer of the League) and Vanessa Carter (Woods Rogers Vandeventer Black law firm) led the discussion.
- CUs Continue Fight Against CFPB's Small Biz Lending Collection Rule
March 13, 2024The CFPB’s small business lending data collection rule should be set aside, America’s Credit Unions, Cornerstone League, Rally Credit Union, and other organizations wrote in a consolidated motion for summary judgment filed in the U.S. District Court for the Southern District of Texas. The CFPB finalized its rule requiring financial institutions to collect and report certain data on applications for credit for women-owned, minority-owned, and small businesses in March 2023. Credit unions led a successful push last year to stop the rule's implementation.