U.S. Senate not likely to look at taxes this summer

The Morning Consult, a Washington, D.C. multimedia company, is reporting on its website that Senate Majority Leader Mitch McConnell doesn’t believe the Senate will take up tax reform this summer citing that “We’re certainly not going to be able to be doing big, comprehensive tax reform with this president.” He went on to say that, […]

Forbes column blasts banks attacks on credit unions

Credit unions received a good placement Thursday in Forbes when Ryan Ellis posted a column calling the bankers attacks on credit unions dishonest. He specifically references a recent op-ed column from Florida Bankers Association CEO Alex Sanchez in the Wall Street Journal and American Bankers Association CEO Frank Keating referencing the NFL dropping its non-profit […]

Fed seeks comments on adopting NACHA same-day rule

The Federal Reserve board has issued a request for comment regarding proposed changes to its current same-day automated clearinghouse (ACH) payments rules. The Federal Reserve Banks propose to incorporate NACHA-The Electronic Payments Association’s recently adopted same-day ACH operating rules into Operating Circular 4, which governs Reserve Banks’ ACH service. The Fed currently operates a same-day […]

New Senate bill for residential loan parity has CUNA, league support

A bill introduced by Sen. Ron Wyden (D-Ore.) would provide credit unions with regulatory relief, help small businesses, and has CUNA’s support. The bill, S. 1440, would exempt loans to purchase a one- to four-unit, non-owner occupied residential dwelling from credit unions’ member business loan cap. Currently those types of loans at credit unions are […]

CFPB posts spring rulemaking agenda

The Consumer Financial Protection Bureau (CFPB) has posted its spring rule making agenda on its website in accordance with the Unified Agenda of Regulatory and De-regulatory Actions. The agency is mandated to publish its agenda twice a year. The CFPB’s agenda includes nine issues including payday lending, overdrafts, HMDA, and TILA/RESPA. Each agenda topic comes […]

Skaggs elected to LSCU & Affiliates board

The LSCU & Affiliates Board of Directors had one open seat up for election this year. USF FCU CEO Rick Skaggs won the election for the Florida Class C seat which represents credit unions with 15,000 to 40,000 members. Skaggs assumes the seat of Envision Credit Union Chief Administrative Officer Anice Prosser. Skaggs will take […]