League News

The Federal Communications Commission (FCC) Thursday approved its proposal on revocation of consent under the Telephone Consumer Protection Act (TCPA). The rule approved Thursday reflects several changes requested by America’s Credit Unions—and its legacy organizations prior to the merger—during its engagement with the FCC on the subject.

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If you’ve been following regulatory compliance developments over the past 18 months or so, then you’ve likely noticed that the regulatory agencies have increased their scrutiny of certain fees charged by credit unions. While numerous fees have been targeted, the agencies have focused the most attention on overdraft and non-sufficient funds (NSF) fees.

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Credit unions: Many of you are actively involved in conducting financial education presentations and we remind you to report your good work to the Credit Union Financial Education Network (CUFEN)! We use the reported data to highlight for policymakers credit unions’ commitment to financial education and financial well-being and to showcase the “Credit Union Difference.”

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Count on your League to help you manage today's complex regulatory compliance environment! We've scheduled the first of this year’s quarterly virtual updates for March 13. These virtual updates are designed to aid your team in building its compliance resources and boosting its regulatory expertise. Register now.

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TruStage™ Ventures, the venture capital arm of TruStage™ offers the Fintech Forum, an online community of credit union leaders, fintechs, and industry partners to foster innovation, share knowledge, and discuss topics impacting the future of financial services. Membership in the Fintech Forum is complimentary to credit union! Sign up here to become a member of the Fintech Forum.

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As we step into the new year, the industry is met with an elevated volume of new developments and trends that are accelerating at breathtaking speeds. Credit unions find themselves navigating a landscape shaped by a liquidity crunch, economic challenges, changing consumer expectations, and growing fraud and cybersecurity risks. As we embark on the new year, the urgency to formulate strategies that align with overarching annual plans has never been more critical.

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Just this week (Feb. 12, 2024), the Federal Financial Examination Council (FFIEC) issued a statement to communicate principles for the examination of residential property appraisal and evaluation (valuation) practices to mitigate risks that may arise due to potential discrimination or bias in those practices; and to promote credible valuations. When it comes time for your exam, whether it is a safety and soundness exam or a specific consumer compliance exam, expect a review of risk management processes for residential lending activity. Here are additional details to help your credit union prepare!

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Homebase Credit Union this week celebrated the grand opening of its third branch office. Located at 13200 Bermuda Orchard Ln, Chester, VA 23836, the office is dedicated to retired CEO Patsy Stuard, who served the credit union for 45 years.

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NCUA held its February Board meeting today, which included a quarterly update on the share insurance fund. We've seen a growth in both the number of CAMELS 3/4/5 credit unions, as well as the shares and assets they hold, in recent quarters. Let's see how things looked at year-end.

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The NCUA issued a Regulatory Alert to provide information on which credit unions must comply with the Home Mortgage Disclosure Act (HMDA) reporting requirements under the CFPB’s Regulation C. In the alert, the NCUA explained that credit unions must collect HMDA data associated with mortgage loan applications processed during 2024 if the credit union meets the four following criteria ...

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