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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.
NAFCU and CUNA ask Senate Banking Committee members to understand the difference between CUs and banks.
Proposed CFPB rule has drawn objections from NAFCU on burdening regulatory requirements for the CU industry.
Bill introduced in the House wants the CFPB to tailor regulations to the size of the organization.
The NCUA's 2022 Annual Report also looks ahead at a number of financial risks to the CU system.
As written, subordinated debt will be available almost exclusively to the largest credit unions.
"A stress test is only as good as the scenarios it tests."
NAFCU, CUNA and others argue the bureau isn't complying with federal law by not releasing its research data.
Board members speak jointly for the first time since the collapse of SVB and Signature Bank.
Board members approve the rule 2-0. Chairman Todd Harper leaves the meeting to go to the hospital.
An NCUA spokesperson says Harper will resume his normal schedule on Friday.