Home News CURRENT Newsletter | November 14, 2023

CURRENT Newsletter | November 14, 2023

11/14/2023

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House Passes Short-Term Government Funding Bill

Your League was pleased to see passage this afternoon in the House of a short-term funding bill that would avert a government shutdown Saturday. The Senate must still pass the measure and the president must sign it. Your League engaged with every member of our Congressional Delegation in recent months, urging them to avoid a shutdown.

CU Advocates Join League in Congressional Meetings

Member credit unions and the League held meetings today with Congresswoman Abigail Spanberger (D-7th) and the office of Congresswoman Jennifer McClellan (D-4th).

CUs, League Holds Virtual Meetings with NCUA Vice Chair Hauptman; Key Treasury Official

The League last week held virtual meetings with NCUA Vice Chairman Kyle Hauptman and Assistant Secretary of the Treasury for Financial Institutions Graham Steele. During the meetings, the League and member credit unions had the opportunity to discuss marketplace, economic and regulatory issues that impact credit unions and our members.

League President/CEO Carrie Hunt to Testify Thursday on NCUA Budget Proposal

League President/CEO Carrie Hunt will be among the industry stakeholders testifying on the NCUA’s proposed budget at a public hearing on Nov. 16. "It’s vitally important the industry remains engaged with NCUA on its budget priorities, with the goal of striking a balance between protecting against risk, while also fostering an environment of innovation that best positions credit unions to succeed,” said Hunt.

NCUA Board to Issue Final Rule on Charitable Donation Accounts; League's Carrie Hunt to Attend Meeting

In addition to a Quarterly Share Insurance Fund Briefing, the NCUA Board will on Thursday issue a Final Rule on Charitable Donation Accounts (CDAs). The Proposed Rule on CDAs was issued earlier this year. This proposed rulemaking would add veteran's organizations to the scope of qualified entities that credit unions are allowed to donate to through their CDAs. These organizations are under Section 501(c)(19) of the Internal Revenue Code, which lays out several requirements and qualifications. League President/CEO Carrie Hunt will attend the meeting.

Comments on Federal Reserve Interchange Proposal Due Feb. 12; League Will Oppose Changes to Current Interchange System

The Federal Reserve published its interchange proposal Tuesday in the Federal Register with a comment deadline of Feb. 12. The Fed Board of Governors proposed the changes at its Oct. 25 meeting. Credit unions strongly oppose changes to the current interchange system and your League will voice its opposition to the Federal Reserve Board proposal.

League Legislative Reception Being Held Dec. 14 in Norfolk

We’re excited to announce a Legislative Reception in Greater Hampton Roads! Join us Dec. 14 at ABNB Federal Credit Union (129 West Little Creek Rd., Norfolk, 23505) as we welcome state and federal lawmakers and local officials. This is a wonderful opportunity to meet with lawmakers in preparation for a busy 2024 General Assembly session.

In Other News …

Tags: NCUA, National Credit Union Administration, Kyle Hauptman, Treasury Department, Graham Steele, Abigail Spanberger, Jennifer McClellan, Credit Card Competition Act, S.1838, H.R. 3881, Charitable Donation Accounts

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