Regulatory & Compliance

NAFCU's Becker says Fed rule capping debit interchange will cost jobs at "Main Street financial institutions."

Funds for multiple purposes available to low-income credit unions through CDRLF.

Might this time finally be the charm for member business lending? After years of lobbying and cajoling, credit unions will finally get their wish on June 16 when the Senate Banking Committee holds a hearing on Sen. Mark Udall’s (D-Colo.) legislation to raise the cap on member business loans.

Parts of a proposed Federal Reserve regulation that would require credit unions to reduce the hold time on certain checks could increase the incidents of fraud and threaten safety and soundness, according to letters from CUNA, NAFCU and several credit unions.

Credit unions are hoping for relief from the courts and an improved rule from the Federal Reserve following the Senate defeat of an amendment that would have delayed the Federal Reserve’s rule regulating debit interchange fees by up to a year.

League's chief advocacy officer credited with being a principal architect of lobbying strategy that led to passage of HR 1151.