Articles

CUNA Continues Work to Fix Excise Tax Disparity in TCJA

CUNA is continuing its advocacy with lawmakers to secure a fix for an excise tax contained in the Tax Cuts and Jobs Act of 2017 (TCJA). The new law requires tax-exempt entities to pay a 21% excise tax on the five highest-paid employees’ compensation that individually exceed $1 million annually, effective Jan. 1, 2018.

in Legislative & Political News
CU Priorities for BCFP Raised at SBA Roundtable

CUNA participated in a roundtable Thursday led by the Small Business Administration's Office of Advocacy to discuss the latest Bureau of Consumer Financial Protection (BCFP) rule-making agenda, which was released last month.

in Compliance & Regulatory News
NTIA Should ‘Seriously Consider’ CU Data Security Priorities

Credit unions have a long history of safeguarding information and are subject to numerous requirements, unlike others that use or maintain consumer information, CUNA wrote to the National Telecommunications and Information Administration (NTIA) Friday. CUNA sent its comments in response to a request for comment on developing an administration policy for consumer data privacy.

in Legislative & Political News
CUNA Attends Fed Faster Payments Town Hall

CUNA attended Friday’s Faster Payments Town Hall meeting in Minneapolis, part of the Federal Reserve’s series of town halls on the topic. The Fed is currently seeking comments on potential actions it can take to support interbank settlement of faster payments through Dec. 14.

in Compliance & Regulatory News
Congress Returns for Lame Duck Session

The House and Senate return to session this week following the mid-term elections and have a number of items to address during the lame duck session.

in Legislative & Political News
Fed Holds Rates, On Track for December Hike

As was expected, the Federal Open Market Committee (FOMC) did not raise rates at the close of its two-day meeting Thursday despite citing a strengthening labor market and increased economic activity.

in Industry News
Jersey City Payroll Tax Advances

The Jersey City Council introduced the payroll tax ordinance by a 7-0-1 vote. Wednesday's 90-minute hearing was the first time the council heard from the public on the proposed payroll tax, which would amount to one percent on any business's total non-resident payroll. The wages of Jersey City residents would be exempt. The council is expected to hold a final vote on the plan by the end of the year. All the money would be set aside for schools.

in Legislative & Political News
Jersey Shore Federal Credit Union Raises $1,205 for K9 Warriors Inc.

On Friday, October 26th, Jersey Shore Federal Credit Union’s Social Action Committee presented a check for $1,205 to Gabriel Ruiz, Founder and CEO of K9 Warriors Inc. to help with the cost of training K9s for Combat Veterans in our area. All CU employees make a donation for the privilege to wear jeans on Fridays and the money from this drive during the second and third quarter funded this donation.

in Credit Union News
CU Professionals from Three CUs Complete Financial Counselor Training

HIGHTSTOWN, N.J. – Credit union professionals from Credit Union of New Jersey, Members 1st of NJ FCU, and Princeton FCU completed Part 2 of Financial Counselor Training (FiCEP) offered here in New Jersey through a partnership between NJCUL, the National Credit Union Foundation, and CUNA.

in Credit Union News
CUNA to pursue ‘tax extenders’ during final months of 2018

CUNA will pursue the extension of two expired tax cuts, known as “tax extenders,” during the final months of the 115th Congress. Tax extenders are temporary tax provisions, generally cuts, that have scheduled expiration dates, but are often extended by Congress.

in Legislative & Political News
NCUA to vote on operating budget, bonds proposal Nov. 15

The National Credit Union Administration (NCUA) board will vote on the agency’s 2019-2020 budget at its Nov. 15 meeting, according to the agenda released Thursday. CUNA presented last month at NCUA’s budget briefing, and submitted written comments on the proposed budget as well.

in Compliance & Regulatory News
CUNA election whitepaper highlights election’s impact on CUs

Despite the divided Congress that will take office in January, CUNA, leagues and credit unions are well-positioned in a challenging legislative environment, CUNA noted in its post-election whitepaper, released Thursday. Titled “Credit Union-Friendly Majority in a Divided Congress,” the paper provides a comprehensive breakdown of credit union involvement in the election, what the results mean and CUNA’s plans for the 116th Congress.

in Legislative & Political News
CUNA’s Nussle, Donovan, Gose talk post-election picture for CUs

"Credit unions are well positioned after Tuesday’s election into the 116th Congress," CUNA President/CEO Jim Nussle said during CUNA’s post-election webinar Thursday. Nussle was joined by Chief Advocacy Officer Ryan Donovan and Chief Political Officer Richard Gose to break down the election results, which can also be found in great detail in CUNA’s post-election whitepaper.

in Legislative & Political News
Judge Orders Stay of BCFP’s Payday Rule Implementation Date

A judge in the U.S. District Court for the Western District of Texas ordered a stay Tuesday of the implementation date of the Bureau of Consumer Financial Protection’s (BCFP) short-term, small-dollar lending rule. The rule is scheduled to go into effect in August 2019, but the bureau said Oct. 26 that it intends to issue a proposed rule in January.

in Compliance & Regulatory News
Nussle, CUNA Leaders to Talk Election Results in Webinar Today

CUNA President/CEO Jim Nussle and other CUNA leaders will break down what a Democrat-controlled House and a larger Republican majority in the Senate means for credit unions Thursday in a free webinar for CUNA members. Nussle will be joined by Chief Advocacy Officer Ryan Donovan and Chief Political Officer Richard Gose.

in Legislative & Political News
Congressman-Elect Jeff Van Drew at Rider University on Monday

Congressman-elect Jeff Van Drew will be the guest speaker at Rider University’s Rebovich Institute of Politics on Monday, November 12. The event is free and open to the public. NJCUL Vice President of Corporate and Governmental Affairs will be in attendance. Interested credit union advocates are encouraged to attend as well. Please contact Chris Abeel for additional information and registration, or feel free to register directly here.

in Legislative & Political News
Reminder: Comments on NCUA's Appraisal Rule Due December 3rd

The NCUA board issued a proposed rule in September that would amend the agency’s regulation requiring real estate appraisals for certain transactions. Comments on the proposal ware due December 3rd. 

in Compliance & Regulatory News
Ten State Legislative Vacancies Decided Tuesday

New Jersey state legislative elections are held in even years but Tuesday there were ten special legislative elections, one for the state Senate and nine for the Assembly. These were essentially ratifications of the local Democratic parties’ choices to fill seats that had been vacated over the last year. 

in Legislative & Political News
No Rate Hike Expected following FOMC's Meeting

The Federal Open Market Committee (FOMC), the Federal Reserve's monetary policy-setting arm, begins a two-day meeting today. A rate hike is not expected following this meeting, but one is widely anticipated at the conclusion of its December.

in Industry News
John Kerry, 68th Secretary of State, to Address CU Leaders at 2019 CUNA GAC

2004 Democratic presidential nominee and former secretary of State, John Kerry, will bring his extensive experience and insights directly to the leaders of the credit union movement as he delivers the key note address at the 2019 CUNA Governmental Affairs Conference (GAC) in March.

in Legislative & Political News
FFIEC Reminds Financial Institutions to Review OFAC Requirements

Members of the Federal Financial Institutions Examination Council (FFIEC) issued a joint statement alerting all financial institutions including credit unions to the potential impacts recent actions taken by the Treasury Department's Office of Foreign Asset Control (OFAC) under its Cyber-Related Sanctions Program may have on risk-management programs.

in Compliance & Regulatory News
CUNA to Host Post-Election Landscape Webinar Nov. 8

CUNA staff will host a post-election webinar Thursday, where CUNA President/CEO Jim Nussle, Chief Advocacy Officer Ryan Donovan, Chief Political Officer Richard Gose and Deputy Chief Advocacy Officer for Political Action Trey Hawkins will give a comprehensive breakdown on how the election results will shape CUNA advocacy efforts going forward.

in Legislative & Political News
Liberty Savings FCU Presents ‘Budgeting for Your Better Life’ at Local Empowerment Conference

JERSEY CITY, N.J. – One of Liberty Savings FCU’s women-leader members, Tawana Mayer, founder of Teacher Empowering and Achieving (T.E.A.) Jersey City, a non-profit group that serves to empower and educate women in the community, hosted the organization’s fall workshop on Saturday. Liberty Savings FCU presented on the topic of “Budgeting for Your Better Life” during the event, titled “Living My Best Life Empowerment Conference.”

in Credit Union News
CUs Can Find Voting Info at CreditUnionsVote.com

With election day tomorrow, CUNA’s “Credit Unions Vote” campaign is still underway, and voters can use CUNA’s CreditUnionsVote.com Web site to make the process easier. The site lets visitors enter basic information to check voter registration status, find their polling place, tweet about voting and more.

in Legislative & Political News
FASB to Address Additional CECL Concerns

During a Financial Accounting Standards Board's (FASB) Transition Resource Group for Credit Losses meeting Thursday, FASB staff indicated it would spend additional time working on certain operational challenges associated with the current expected credit loss (CECL) standard.

in Compliance & Regulatory News
BCFP Updates HMDA Compliance Guide with S. 2155 Changes

The Bureau of Consumer Financial Protection (BCFP) has updated its small entity compliance guide for the Home Mortgage Disclosure Act (HMDA) to reflect changes in the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155) and the Bureau’s August interpretive rule.

in Compliance & Regulatory News
2018 Election Poised for Record-breaking $5.2 Billion in Spending, CULAC Remains Evenly Bi-partisan While Securities & Investment Industry Favors Dems and Bankers GOP

The Center for Responsive Politics (CRP) projects that more than $5.2 billion will be spent this election cycle, making it the most expensive midterm election by a wide margin. The overall estimated cost would represent a 35 percent increase over the 2014 cycle in nominal dollars, the largest increase in at least two decades.

in Legislative & Political News
Due diligence for members that privately own ATMs

Privately-owned ATMs are typically found in convenience stores, bars, restaurants, grocery stores, or check cashing establishments. Fees and surcharges for withdrawals, coupled with additional business generated by customer access to an ATM, make the operation of a privately-owned ATM profitable. As a result, more credit unions are being approached to open accounts for the owners of these ATMs.

in Compliance & Regulatory News
BCFP Clarifies How to Take HMDA Partial Exemptions in Light of S.2155 Final Rule

Earlier this month, CUNA hosted a webinar in conjunction with the Bureau of Consumer Financial Protection (BCFP) on HMDA implementation, which focused on the more technical and operational aspects of the new HMDA rule following the August 30, 2018 final rule implementing the S.2155 changes.

in Compliance & Regulatory News
NCUA Awards $2M in Grants to 203 Low-income CUs

The National Credit Union Administration (NCUA) awarded $2 million in grants to 203 low-income credit unions, funding from the agency’s Community Development Revolving Loan Fund (CDRLF). CUNA and the state leagues strongly support full funding for the CDRLF and successfully fought to restore funding when the fund was zeroed out for fiscal year 2018 by the Trump administration.

in Compliance & Regulatory News
CUNA On-hand for Opening Arguments in Landmark ADA Case

CUNA staff attended opening arguments in Griffin v. DOL FCU Tuesday, an appellate-level case involving alleged noncompliance with the Americans with Disabilities Act (ADA).

in Compliance & Regulatory News
BCFP Updates Home Mortgage Disclosure Act Small Entity Compliance Guide

The Bureau of Consumer Financial Protection (BCFP) has updated the Home Mortgage Disclosure Small Entity Compliance Guide to reflect amendments made by Section 104(a) of the Economic Growth, Regulatory Relief, and Consumer Protection Act and the 2018 interpretive and procedural rule.

in Compliance & Regulatory News
RDC Litigation Webinar Recording Now Available

CUNA members can now access a free recording of a webinar outlining the latest development in patent litigation brought against several credit unions involving remote deposit capture (RDC) technology. The live version of the webinar hit capacity with 1,000 credit unions registering to attend.

in Compliance & Regulatory News
CUNA Site Highlights CU-backed Candidates in Tuesday’s Mid-term Elections

CUNA has launched a Web site highlighting each of the candidates supported by CUNA, the state leagues and credit unions in the 2018 mid-terms. CUNA and the leagues have invested nearly $7 million on more than 380 pro-credit union candidates for the U.S. House and Senate from across the nation.

in Legislative & Political News
CUNA Sets Free Webinar on RDC Litigation for Oct. 30

CUNA will conduct a webinar Tuesday to discuss letter received by certain credit unions from law firms calling for negotiation of a patent licensing deal for remote deposit capture (RDC). Registration is open for the webinar, which is scheduled for Oct. 30 from 3:30 to 5 p.m.

in Compliance & Regulatory News
Court Sets FOM Lawsuit Appeal Dates, NCUA Brief Due Dec. 5

The D.C. Circuit Court of Appeals has set a briefing schedule for the appeal of the field-of-membership lawsuit brought against the National Credit Union Administration (NCUA) by the American Bankers Association (ABA). CUNA fully supports NCUA in its appeal and plans to submit an amicus brief in the appellate litigation.

in Compliance & Regulatory News
One Week Until Mid-term Elections: NJ Candidates Supported, Voter Resources Available

CUNA and the state leagues have invested nearly $7 million in over 380 pro-credit union U.S. House and Senate candidates across the nation. This support included not only direct contributions to candidate campaign committees by CULAC, the Credit Union Legislative Action Council, but direct voter engagement via mailers, and television, radio and online ads in targeted districts.

in Legislative & Political News
Paid Family Leave Expansion Awaits Floor Votes

Legislation (S2528) that would expand benefits under the state’s paid family leave has received final committee approval and is awaiting a vote by the full Senate. The Assembly companion bill (A3975) has been reported to the floor and is awaiting a vote by the full Assembly.

in Legislative & Political News
BCFP Announces Coming Changes to Payday Lending Rule

The Bureau of Consumer Financial Protection (BCFP) expects to issue proposed rules in January reconsidering its short-term, small-dollar lending rule, it announced Friday. The Bureau stated it will make final decisions regarding the scope of the proposal closer to the issuance of the proposed rules, but it currently plans to propose revisiting only the ability-to-repay provisions, not the payments provisions.

in Compliance & Regulatory News
CUNA Recognizes NCUA Budget Improvements, Urges Continued Work

CUNA submitted additional written comments to the National Credit Union Administration (NCUA) Friday on the agency’s proposed 2019 operating budget. CUNA’s letter follows up CUNA Senior Economist Mike Schenk’s presentation to the board at its budget briefing earlier this month.

in Compliance & Regulatory News
Credit Union Journal: McWatters to credit unions: Not NCUA’s job to ‘hold your hand’

This week the Credit Union Journal reported on National Credit Union Administration (NCUA) Chairman Mark McWatters’ remarks as he fired back at claims from a former board member that the agency’s requests for third-party cybersecurity vendor oversight are merely duplicating work already being done by other regulators. McWatters’ remarks came during a Q&A session following remarks directed at community development credit union professionals attending the Inclusiv conference in Clearwater, Fla.

in Compliance & Regulatory News
CUNA’s ‘CUs vote’ MAP campaign emphasizes CU engagement

As the Nov. 6 mid-term election approaches, credit unions have a lot at stake in the new Congress. The 115th Congress brought major wins for credit unions, and CUNA, leagues and credit unions are already focused on continuing the momentum in the next Congress.

in Legislative & Political News
NCUA to Host HMDA and Consumer Compliance Update Webinar

ALEXANDRIA, Va. – Credit unions can learn more about recent changes to the Home Mortgage Disclosure Act (HMDA) and other federal consumer financial protection laws and regulations during a Nov. 14 webinar hosted by the National Credit Union Administration (NCUA).

in Compliance & Regulatory News
NJCUL Hosts Meeting with NCUA: CU Fraud and Losses The Supervisory Committee’s Role

ATLANTIC CITY, N.J. – The New Jersey Credit Union League (NJCUL) hosted over 50 credit union CEOs, supervisory committee and board members, for a private meeting with the National Credit Union Administration (NCUA) Supervisory Examiners Terrance Adam and Marcus Vander Wall at its 84th Annual Meeting & Convention held in Atlantic City, New Jersey.

in League News
Congressional Delegation Thanked for Taxi Medallion Letter

New Jersey Credit Union League (NJCUL) President/CEO David Frankil Thursday wrote members of Congress from New Jersey to thank them for adding their name to the delegation letter to NCUA Chairman J. Mark McWatters on the agency’s treatment of taxi medallion loans.

in Legislative & Political News
Federal Reserve Payments Implementation Community Forum on November 2nd

On October 3rd, the Federal Reserve Board of Governors published a Federal Register Notice, requesting public comment on potential actions that the Fed could take to facilitate real-time interbank settlement of faster payments. In order to help the industry better understand these potential actions, they will be hosting a public town hall at the Federal Reserve Bank of New York, 33 Liberty Street, New York on Friday, November 2nd from 9:00 a.m. to 12:00 p.m. Town hall attendees will learn about and have the opportunity to ask questions and share views on the potential actions the Fed is considering.

in Industry News
CU young professionals reflect on CUNA advocacy training

Several dozen young credit union professionals spent a day with CUNA staff and other policymakers and staff this fall, as part of CUNA’s advocacy training program for young professionals. While the training sessions were scheduled to take advantage of leagues in town for the fall Hike-the-Hill visits, many of the young professionals learned lessons that they said they’ll take with them as they continue their future advocacy work on behalf of credit unions.

in Industry News
CUNA’s Michlig, Toalson talk awareness, 2019 momentum

Greg Michlig, CUNA’s Deputy Chief Engagement Officer, and Susan Toalson, CUNA Vice President, appeared recently on CUBroadcast to talk about credit unions’ strong momentum going into 2019, and how CUNA is poised to take advantage of the momentum. Michlig and Toalson appeared were interviewed during this year’s Northwest Credit Union Association’s MAXX Conference in Tacoma, Wash.

in Industry News
CUNA Highlights League, CU Autodialer Suggestions to FCC

CUNA highlighted several credit unions and leagues emphasizing the critical importance of a narrow definition of an automated telephone dialing system (ATDS) in its reply comments to a Federal Communications Commission (FCC) petition Thursday. CUNA filed its original comments last week in response to the petition, which was issued by the FCC in light of a decision by the Ninth Circuit Court.

in Compliance & Regulatory News
CECL Delay Approved by FASB

The Financial Services Accounting Board (FASB) approved Wednesday several CUNA/league backed changes to its current expected credit losses (CECL) standard. CUNA and the state leagues pressed FASB to extend the implementation date for credit unions, and the board proposed the change earlier this year.

in Compliance & Regulatory News
Congressman MacArthur Visits First Atlantic FCU, Meets with CU Advocates

Congressman Tom MacArthur (R-3) visited the Toms River Store of First Atlantic FCU to tour the facility and meet with the New Jersey Credit Union League (NJCUL) and credit union advocates. MacArthur serves on the House Financial Services Committee and has been a strong credit union supporter while serving in Congress.

in Legislative & Political News
Final Independent Expenditure for 2018 Midterm Election Launched

Credit Union Legislative Action Council (CULAC), the CUNA/League System’s federal political action committee (PAC), launched its final independent expenditure (IE) for the 2018 midterm election cycle Tuesday. CULAC is ranked among the top five largest PACs for trade associations. 

in Legislative & Political News
FFIEC Launches New BSA/AML InfoBase Site

The Federal Financial Institutions Examination Council (FFIEC) launched a redesigned Bank Secrecy Act/Anti-Money Laundering (BSA/AML) InfoBase Web site last week, aimed at sharing financial institution examination procedure information with examiners, financial institutions, the public and other stakeholders.

in Compliance & Regulatory News
CU Times Highlights NJ Congressional Delegation Pressing NCUA on Taxi Loans Through League-Led Letter

Putting the spotlight on the plunging value of taxi medallions since the NCUA last issued guidance on such loans, the New Jersey congressional delegation is asking the agency to update its advice on such lending, a recent article in the Credit Union Times points out. All 14 members of New Jersey’s congressional delegation signed a letter to the NCUA's Chairman J. Mark McWatters last week on the agency’s treatment of these loans. Circulated among the delegation by Sen. Robert Menendez (D-NJ) and Rep. Donald Norcross (D-1), the letter is the culmination of months of groundwork between the NJCUL and their offices, as well as making the case to the other delegation members that they should add their name as well.

in League News
FBI's Own Brett Yeager Gives Attendees the Scoop in Cybersecurity

ATLANTIC CITY, N.J. – The Federal Bureau of Investigation (FBI)'s very own Brett Yeager from the Newark division traveled to Atlantic City to speak with Convention attendees and gave insights about cybersecurity.

in League News
DonnaLyn Giegerich Presents Resilient Leadership Skills for Women Executives and Leadership Trends in Two-Part Sessions

ATLANTIC CITY, N.J. – When Donnalyn Giegerich, the leader of an empowerment speaking and corporate training company, was highly recommended by a female credit union professional to speak at our Convention, we thought she was a perfect complement to our speaker line-up, especially since adding on the Emerging Leaders track focused on that next generation being groomed to move up the management ladder. 

in League News
2018 New Jersey Economic and Business Outlook with Ryotaro Tashiro

ATLANTIC CITY, N.J. – The Regional Economic Advisor for the Federal Reserve Bank of Philadelphia, Ryotaro Tashiro, spoke with the New Jersey Credit Union League (NJCUL)'s 84th Annual Meeting and Convention attendees Monday afternoon about the state of New Jersey's economy and business outlooks.

in League News
Regulatory Developments Take Center Stage in Annual NCUA & NJ DOBI Panel Discussion

ATLANTIC CITY, N.J. – Thomas Hunt and Christopher Lopes from the NJ Division of Banking and Insurance (NJ DOBI), along with Marcus Vander Wall and Terry Adam from the National Credit Union Administration (NCUA) led a roundtable discussion Monday afternoon to address what credit unions can expect on the regulatory front.

in League News
CUNA Mutual Group's Linda Nedelcoff Explains How Change is Not Top Down

ATLANTIC CITY, N.J. – CUNA Mutual Group's Senior Vice President and Chief Human Resources Officer, Linda Nedelcoff, led an elaborate discussion with Convention attendees about how to stay engaged with your employees and how change happens all throughout your credit union. The right treatment of employees is a key component of what drives member business.

in League News
Renowned Expert on NJ Politics Gives His Take on the Upcoming Mid-term Elections

ATLANTIC CITY, N.J. –  Professor Benjamin Dworkin, PhD, founder and head of Rowan University’s Institute for Public Policy & Citizenship gave his take on what we might expect in the upcoming mid-term elections during a Monday break-out session at the NJ Credit Union League’s 84th Annual Meeting and Convention.

in League News
Solutions Theater's Continue in the Exhibit Hall with Narmi and njBIZloan Connection

ATLANTIC CITY, N.J. – The New Jersey Credit Union League (NJCUL)'s 84th Annual Meeting and Convention continued Monday with two more Solutions Theater sessions in the Exhibit Hall. The co-founder of Narmi, Nikhil Lakhanpal, and the Managing Member of njBIZloan Connection, LLC and the founder and President of Biz Lending & Insurance Center, Inc. (BLIC), Murray Halperin, spoke with attendees in each of their own sessions.

in League News
NJCUL Honors 2018 Award Winners at Dinner Banquet; Jason Lyle Black Performs

ATLANTIC CITY, N.J. – NJCUL’s 84th Annual Meeting and Convention finished off Monday evening with a cocktail hour, awards dinner and performance made by Jason Lyle Black, an award-winning pianist, entertainer, and composer, whose combination of music, comedy, and audience interaction creates a one-of-a-kind show experience.

in League News
NJCUL President/CEO David Frankil and CUNA Mutual Group Keynote Jonah Berger Kick Off League’s 84th Annual Meeting and Convention at the Golden Nugget in Atlantic City

ATLANTIC CITY, N.J. – New Jersey Credit Union League (NJCUL) President/CEO David Frankil kicked off the NJCUL’s 84th Annual Meeting & Convention at the Golden Nugget Hotel and Casino in Atlantic City Monday morning during the Opening Session, which also featured CUNA Mutual Group-sponsored Keynote Speaker Jonah Berger.

in League News
2nd Annual Advocacy Reception Puts CU Volunteers at Forefront Political Advocacy

ATLANTIC CITY, N.J. – As part of its initiative to educate, train, and build an “army” of volunteer advocates, the New Jersey Credit Union League (NJCUL) extended a special invitation to all credit union volunteers attending this year’s convention to its Annual Advocacy Reception on Sunday with special guest state Senator Jeff Van Drew, the leading candidate to replace retiring Congressman LoBiondo in the 2nd District.

in League News
New Emerging Leaders Track Gives Credit Union Professionals Tools for Strategic Thinking, Influential Communication, and the Credit Union Mission

ATLANTIC CITY, N.J. – To foster and empower the aspiring emerging leaders in our industry here in New Jersey, the League added a dedicated Emerging Leaders track for our education at the 2018 Convention, focused on that next generation being groomed to move up the management ladder. It includes hands-on sessions on how to evolve thinking from the tactical to the strategic, developing content and presentation skills, and how credit unions provide a foundation for social good. We even had an Emerging Leader takeover our social media!

in League News
Final RBC Rule on NCUA’s Thursday Meeting Agenda

The National Credit Union Administration (NCUA) board will vote on finalizing changes to its risk-based capital at its Thursday meeting, according to the agenda released by the agency Thursday. CUNA supports the proposal, but has expressed numerous concerns about the agency’s RBC approach in general.

in Compliance & Regulatory News
CUNA Advocacy Priorities Reflected in BCFP Rule-Making Agenda

The Bureau of Consumer Financial Protection (BCFP) issued its Fall 2018 rule-making agenda this week, with several items reflecting CUNA’s advocacy with the Bureau. The agenda is a snapshot of the Bureau’s regulatory priorities over the coming months into 2019.

in Legislative & Political News
Risk-Based Capital Rule to Become Effective in 2020; Asset Threshold Raised

Board Proposes Simplifying Bylaws, Adding Clearer Guidance

ALEXANDRIA, Va. – The National Credit Union Administration (NCUA) Board held its ninth open meeting of 2018 at the agency’s headquarters today and unanimously approved two items.

in Compliance & Regulatory News
REMINDER: The New NJ Paid Sick Leave Law takes effect October 29, 2018

Effective October 29, 2018, most private sector employers in New Jersey will be required to provide at least 40 hours of paid sick leave in a 12-month period to every New Jersey employee for their own diagnosis, treatment, or preventative care, or, for that of a family member. The law covers most employers and does not include a small business exemption or minimum number of employees. While there are a few exemptions for certain types of employees or employment situations, a credit union or credit union employee would not fall into one of the exemptions.

in Legislative & Political News
NCUA Holds Budget Briefing

Yesterday, the National Credit Union Administration (NCUA) Board held its budget briefing for it's 2019-2020 proposed budget.

in Compliance & Regulatory News
Mid-term Support for Candidates Covered by Washington Publications

CUNA support for credit union-friendly candidates in this year’s mid-term election was covered by two Washington, D.C. publications Wednesday. CUNA announced several independent expenditures Wednesday, which follows a similar announcement several weeks ago, part of the $7 million CUNA is investing in this year’s mid-terms.

in Legislative & Political News
CUNA Launches First Round of Independent Expenditures for 2018 Midterms

Credit Union Legislative Action Council (CULAC), the federal PAC of CUNA, is launching its first round of independent expenditures (IEs) for the 2018 midterm election cycle. The IEs are being launched in various stages throughout the week.

in Legislative & Political News
Paid Family Leave Bill Signed by Governor

Gov. Phil Murphy has signed legislation (A2762, now P.L. 2018, c.122) designed to increase the use of the State’s paid family leave insurance law for pregnancy or child birth.

in Legislative & Political News
Trump Administration Releases Fall 2018 Regulatory Relief Agenda

The Trump administration Wednesday released its fall 2018 agenda for regulatory and deregulatory actions. Over the past two years, federal agencies have issued 176 deregulatory actions that have contributed to some $33 billion regulatory compliance savings.

in Compliance & Regulatory News
Happy International Credit Union Day!

Today, October 18, 2018, marks the 70th anniversary of International Credit Union Day. This year’s theme is “Find Your Platinum Lining.” It combines the traditional gift of platinum for 70th anniversaries with a play on the saying “every cloud has a silver lining.” 

in Industry News
CUs and Exhibitors Mix and Mingle in Exhibit Hall During Wine & Cheese Welcome Reception Sponsored by njBIZloan Connection

ATLANTIC CITY, N.J. – Convention attendees gathered in the Exhibit Hall Sunday evening to mix and mingle and also network and discuss solutions with the 52 exhibitors on display during the Wine & Cheese Welcome Reception sponsored by njBIZloan Connection. They also had the chance to purchase tickets for the Foundation’s popular Wine, Lose or Draw fundraiser and learn about two new business partners in the League’s new Solutions Theater.

in League News
Donovan Thanks NCUA for RBC Work, Says Additional Work Needed

The National Credit Union Administration (NCUA) board deserves thanks for its work on risk-based capital, but more work is needed, CUNA Chief Advocacy Officer Ryan Donovan wrote in Credit Union Times Tuesday. The board is scheduled to vote on the final RBC rule at its Thursday meeting.

in Compliance & Regulatory News
CUNA to Present at Wednesday’s NCUA Budget Briefing

CUNA Chief Economist Mike Schenk will present at the National Credit Union Administration (NCUA)’s budget briefing Wednesday at NCUA’s Alexandria headquarters. The briefing is scheduled to start at 10:00 a.m. and will be streamed live at NCUA.gov.

in Compliance & Regulatory News
UDAAP Clarity is Coming, Mulvaney Tells Mortgage Bankers

Bureau of Consumer Financial Protection (BCFP) Acting Director Mick Mulvaney said the Bureau is working on a rulemaking to better clarify its definition of unfair, deceptive or abusive acts or practices (UDAAP).

in Compliance & Regulatory News
Electronic Payments Fraud Growing, Fed Study Finds

A new Federal Reserve study found that between 2012 and 2015, the value of fraudulent electronic payments increased 37 percent, driven primarily by card fraud. During the same time period, the total value of electronic payments increased only 12 percent.

in Legislative & Political News
Federal Trade Commission Makes Consumer Complaint Data More Accessible

The Federal Trade Commission (FTC) hears from millions of consumers each year about fraud, identity theft, and other problems, allowing us to warn other consumers about scams they should watch out for, while also providing the agency with an important source of information to support our enforcement actions.

in Compliance & Regulatory News
Special Advocacy Reception at Convention Puts Credit Union Volunteers at the Forefront of Political Advocacy

As part of its initiative to educate, train, and build an “army” of volunteer advocates, the New Jersey Credit Union League has extended an invitation to all New Jersey credit union volunteers attending its 2018 Convention to a special Advocacy Reception Sunday at 2:15 pm with special guest State Senator Jeff Van Drew, the leading candidate to replace retiring Congressman LoBiondo in the 2nd District.

in Legislative & Political News