CURRENT Newsletter | September 27, 2022
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League Sends New Round of Letters to Congress on Interchange
Following the recent introduction of a House version of the Credit Competition Act of 2022 (H.R. 8874), your League sent a new round of letters to every member of our Congressional delegation, noting our opposition to the House and Senate legislation and to any proposed changes to the current payments system.
CUs, League Hosting Legislator Reception Oct. 11 in NoVA; You're Invited!
Your League and member credit unions are hosting a legislator reception Oct. 11 in Northern Virginia and you're invited! This event is free to attend, but we do ask that you register to aid us in planning.
House to Vote on Board Modernization Bill This Week
The House is expected to vote on the CUNA-League-led Credit Union Board Modernization Act (H.R. 6889) this week. The bill—from Reps. Juan Vargas, D-Calif., and Anthony Gonzalez, R-Ohio, passed the House Financial Services Committee in July and was introduced during the 2022 CUNA Governmental Affairs Conference.
Registration for League's CEO Forum Now Open
While emerging credit unions face a host of challenges, they're also learning to navigate and thrive in today's demanding, hyper-competitive marketplace.
Oct. 11 Webinar: Why Recapture is the Most Important Lending Strategy for CUs
On average, credit unions have just over 20% of auto loan debt -- with even lower penetration in unsecured loans and credit cards. This means that your members have 80% of their debt somewhere else, and despite credit unions having better rates, we are losing marketing share. Meanwhile, fintechs are seeing exponential growth using a couple of key strategies. Join this session to learn how you can implement those same strategies to recapture members’ debt.
Register Now for Simplified CECL Tool Webinar
The National Credit Union Administration Office of Examination & Insurance is hosting a webinar on the recently announced Simplified Current Expected Credit Loss (CECL) Tool. The one-hour live webinar will take place on Wednesday, Oct. 12, beginning at 2 p.m.
Virtual IRA Training Set for Oct. 25-26
Join the highly skilled trainers from Ascensus for virtual IRA Training on Oct. 25 & 26. Take advantage of both Essentials & Advanced sessions! Whether you are new to IRAs or an experienced administrator wanting an update, you'll find the training you need.
Positive News for CUs on NCUSIF; NCUA Board OKs Proposed Rules on Member Expulsion, Subordinated Debt Changes
The NCUA Board and credit unions today received good news on the National Credit Union Share Insurance Fund. The Board also voted today to approve proposed rules on member expulsion and subordinated debt, setting 60-day comment periods on the two measures.
GWLN Virginia Sister Society Will Host Free Virtual Event Oct. 20
The Virginia Sister Society of the Global Women’s Leadership Network will host a virtual event on Oct. 20. Titled “Making Herstory: Building Your Legacy,” program moderator Sarah Snell Cooke, of Cooke Consulting Solutions, will facilitate discussion for a panel comprised of women who will be part of the inaugural class of inductees into the HERSTORY exhibit at America’s Credit Union Museum! Learn more about that here: acumuseum.org/herstory.html
Financial institutions want law enforcement agencies to commit more time and resources to help combat fraud in real-time payments even as the Consumer Financial Protection Bureau is looking into holding banks and payment processors liable for errors made by consumers.
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