This is the same JPMorgan Chase that since 2009 has paid more than $30 billion in fines for a string of scandals that include shady banking practices aimed at low-income Americans.

In a press event, Treasury Secretary Jacob Lew bemoaned that one in five households continue to use predatory banking products like check cashers and auto title lenders. Many of the new initiatives will develop technology to provide easier mainstream account access to low-income Americans.  The Gates Foundation, PayPal and Village Capital are also pitching in.

One partnership would focus on the Mississippi Delta region, where Bill Bynum at the $176 million Hope Credit Union already does great work. Credit unions need to be on high alert to support Hope and other credit unions in low-income areas as they fend off banker Grinches that sadly have federal government support.

On Dec. 8, NCUA Chairman Debbie Matz will be the day's top image as she appears before the House Financial Services Committee as a member of the Financial Stability Oversight Council. The hearing won't be as tough as Matz' solo appearance in July, because she will be joined on the panel by FSOC heavyweights like Federal Reserve Chair Janet Yellen and CFPB Director Richard Cordray. The committee has bigger fish to fry, but Matz will probably face some tough questions.

A positive NCUA showing before Congress is good for credit unions. Fallout from a bad hearing – increased congressional oversight – would be a lump of coal in credit union stockings. A few questions from the committee that highlight the NCUA's good deeds are on my wish list.

Another flap will be peeled back Dec. 9, after the CUNA board meets to approve the trade's new membership structure. Or not. We've heard before that big news is coming from CUNA, and then … nothing. I'm still waiting for details regarding that dues reduction. And, the board could vote down membership reform again. I hope CUNA leadership doesn't reveal another turkey.

The NCUA's new field of membership rules provide another advent calendar unknown. Will bankers sue? If so, does the NCUA's legal analysis provide an adequate defense? Board Member Mark McWatters wrote in his board meeting statement the agency should publish legal justification in the Federal Register that supports FOM changes. He reasoned it would show the NCUA acted within its statutory authority, rather than overriding Congress, as bankers allege. That might make bankers think twice before filing suit, but it could also help them formulate a better legal offense.

Finally, the NCUA's Dec. 17 board meeting could reveal another ugly picture. One potential issue is a report to Congress from Rep. Maxine Watters (D-Calif.) regarding diversity in financial services agencies. Waters recommended more power for Offices of Minority and Women Inclusion, including OMWI directors reporting directly to agency heads, increased meetings between them, increased data and meatier annual reports, more Office of Inspector General reviews and increased reporting to Congress.

Download and read the complete report here.

Despite the fact that the NCUA board is led by a woman and the agency scores comparatively high in employee satisfaction, it must improve diversity to meet Dodd-Frank mandates and comply with a 2011 executive order to prioritize diversity. Because the NCUA is expected to address some major rules early next year – supplemental capital, for example – OMWI tweaks could be added to the December board agenda.

That could result in a politically-driven war of words between Matz and McWatters. I'm no Dodd-Frank fan, and think such actions should be questioned. The NCUA gifted the industry with live web feeds of monthly board meetings, but like a holiday family gathering, I hope those good intentions don't turn ugly.