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CU Times covers the NCUA, CUNA, NAFCU, CFPB as well as Congress to keep credit union executives up-to-date on regulatory and compliance changes coming out of Washington, D.C.
The America’s Credit Unions letter voices concern over a joint-report requirement in the AI Act of 2024.
Current law prevents municipalities from depositing with credit unions unless they are towns with fewer than 5,000 people.
Criticizing CUs’ tax-exempt status while profiting from mechanisms like Subchapter S and depreciation is a glaring double standard.
The rule aims to rein in data brokers that sell sensitive personal and financial information.
The hearing is expected to cover credit union/bank tech advances along with possible new supervisory tools.
From the NCUA to the CFPB and the economy, credit unions should expect changes on the horizon.
A ruling against 1st Advantage FCU could create a troubling precedent for the credit union industry.
Credit unions that see compliance not as a burden, but as an opportunity to innovate, grow and lead, will thrive.
The 2025-2026 budget is $2.3 million for 2025 and $2.4 million for 2026.
The new rule allows the CFPB to supervise nonbank companies handling more than 50 million transactions per year.