Regulatory & Compliance

Following CUNA's lead, the Michigan Credit Union League is reviving a new online advocacy tool, "Operation Grassroots," to bolster comment letters on legislative and regulatory issues.

NCUA Chairman Debbie Matz will answer questions from credit union executives and other interested parties at a Feb. 17 virtual town hall, the agency announced.

Saying she wants to "reverse the disincentive," for credit unions to accept new deposits, NCUA Chairman Debbie Matz asked Congress to let credit unions exclude no-risk assets from their definition of total assets and to allow supplemental capital.

Violators of NCUA's new rule on financial literacy for directors will not be forced to step down or undergo a test, according to CUNA's summary of an audio conference conducted to guide CUs on the basic expectations in the rules.

Credit unions who feel their NCUA examiner has exceeded his or her authority in an exam will soon have a resource they can use to make their case.

Taking another step toward the elimination of checks, the Treasury Department today announced it is making tax refunds available via debit cards for individuals who don't have bank or credit union accounts.