America’s Credit Unions Press Archives

CUNA’s Statement on economic importance of financial literacy for students

(April 29, 2014) -- The Honorable Shelley Moore Capito Chairman Subcommittee on Financial Institutions and Consumer Credit Committee on Financial Services United States House of Representatives Washington, DC 20515 The Honorable Gregory Meeks Ranking Member Subcommittee on Financial Institutions and Consumer Credit Committee on Financial ...

CUNA joins in support of better governance structure for housing insurer

(April 28, 2014) -- Letter from four trade groups supports amendment in pending Senate legislation The Credit Union National Association (CUNA) has joined three other financial institution trade associations in supporting an amendment to proposed Senate housing finance reform legislation improving the governance structure of ...

No need for stress test rule; $5 million is just too much

(April 24, 2014) --  Statement by CUNA President and CEO Bill Cheney On adoption by NCUA Board of ‘stress test’ rule for large credit unions CUNA did not support this proposal. While we acknowledge the utility of stress tests, we see no need for a ...

CUNA, League engagement ensure all credit union succes in UBIT case

Statement by CUNA President and CEO Bill Cheney on developments in ‘unrelated business income tax’ (UBIT) by IRS NOTE: Today it has been announced that the Internal Revenue Service (IRS), finally bowing to the results of two federal court cases brought by credit unions, has ...

Breakthrough with IRS over credit union UBIT payments

(April 9, 2014) -- Finally bowing to the results of two federal court cases brought by credit unions, the Internal Revenue Service has issued a memorandum that clears nearly all credit union products at stake in the litigation from being subject to unrelated business income ...

Increase transparency, strengthen disclosure for patent troll demand letters

April 7, 2014 The Honorable Lee Terry Chairman Subcommittee on Commerce, Manufacturing and Trade Committee on Energy and Commerce United States House of Representatives Washington, DC 20515 The Honorable Jan Schakowsky Ranking Member Subcommittee on Commerce, Manufacturing and Trade Committee on Energy and Commerce United ...

Congress should thoroughly examine risk-based capital proposal

April 2, 2014 The Honorable Jeb Hensarling Chairman Committee on Financial Services United States House of Representatives Washington, DC 20515 The Honorable Maxine Waters Ranking Member Committee on Financial Services United States House of Representatives Washington, DC 2051 Dear Chairman Hensarling and Ranking Member Waters: ...

Search for new CUNA CEO focus of committee

(April 4, 2014) -- Overseeing the search for a new CEO of CUNA will be the task of a seven-member committee appointed by Board Chairman Dennis Pierce, the association said today. Additionally, CUNA also said it has retained the executive search firm of Russell Reynolds ...

NCUA definition of “complex” credit union is inappropriate and injudicious

April 1, 2014 Office of Information and Regulatory Affairs Office of Management and Budget Room 10226, New Executive Office Building Washington, DC 20503 Attn: Shagufta Ahmed Re: RIN 3133–AD77, National Credit Union Administration Prompt Corrective Action – Risked Based Capital Proposed Rule Dear Ms. Ahmed: ...

CUNA comments on appeals court decision in interchange case

Statement by CUNA General Counsel Eric Richard on appeals court overturning merchant challenge to fed interchange rule "This is truly a rebuke to the merchants and a victory for credit unions. While CUNA and our partner members of the coalition of financial institutions continue to ...

Letter supports credit union residential loan parity act

March 14, 2014 The Honorable Ed Royce Member of Congress United States House of Representative Washington, DC 20515 The Honorable Jared Huffman Member of Congress United States House of Representatives Washington, DC 20515 Dear Representatives Royce and Huffman: On behalf of the Credit Union National ...

No-charge webinar focuses on risk-based capital proposal

(March 14, 2014) -- The proposed rule on “risk-based capital” – recently issued by the National Credit Union Administration (NCUA) – is the focus of a free March 19 webinar sponsored by CUNA and the state leagues and associations, and which is open to participants from CUNA-member ...