Senate confirms Calabria as new FHFA director

WHAT’S NEW IN WASHINGTON

CUNA engages on robocall legislation 

While we support efforts to protect consumers from robocallers, we want there to be clarity for credit unions that need to contact their members. Last week, we sent a message to every member of Congress calling for changes to the Telephone Consumer Protection Act (TCPA). This week, we wrote a letter to the Senate Commerce Committee raising concerns with the Telephone Robocall Abuse Criminal Enforcement and Deterrence (TRACED) Act. We alsosent a letter to a House Financial Services subcommittee ahead of a hearing with the Federal Communications Commission (FCC). 

Senate confirms Calabria as new FHFA director

The Senate confirmed Mark Calabria to serve a five-year term as Director of the Federal Housing Finance Agency (FHFA). We previously sent a letter to the Senate Banking Committee outlining our principles for housing finance reform, and we look forward to working with Director Calabria to achieve these objectives.

STATES Act introduced in House and Senate

We’re fighting for the rights of credit unions to serve members in cannabis-legal states. Our pressure has helped move things forward on the Hill. This week the House and Senate introduced the Strengthening the Tenth Amendment Through Entrusting States (STATES) Act, a bill that would provide safe harbor for banking services. We sent letters to theHouse and Senate co-sponsors in support.

Taxpayers First Act passes through committee

The House Ways and Means Committee has passed the Taxpayers First Act of 2019, a bill that protects taxpayers from unfair practices and improves Internal Revenue Service (IRS) operations. Several of the bill’s provisions would impact credit unions, so we’re engaging with it closely to ensure our industry gets fair treatment.

Message to the Hill explains our tax status

We sent another message to every Congressional office this week – this time we explained how credit unions are taxed differently by design. Our industry is constantly under attack by banks for our not-for-profit tax status. Despite our clear not-for-profit model! The messages are part of an effort to share the credit union difference with every member of Congress.

WHAT YOU NEED TO KNOW

 New website for filing claims in Wendy’s breach

A new website has launched to allow financial institutions to file claims in the Wendy’s data breach. As part of the settlement in the case, wendysfidatabreachsettlement.com also has frequently asked questions, important deadlines, court documents, and more relevant information. 

CUNA advocates at Basel Committee with international credit union organizations

CUNA Chief Advocacy Officer Ryan Donovan joined representatives from the World Council of Credit Unions at a meeting with the Basel Committee on Banking Supervision to endorse regulatory proportionality. The delegation told the committee that its authority negatively impacts credit unions all over the world when national governments take up Basel standards, which are more tailored for international banks.

Awareness initiative contributors share their enthusiasm for campaign

The Northwest Credit Union Association (NWCUA) is a strong partner in the Awareness initiative, supporting fundraising in the northwest for the Open Your Eyes to a Credit Union? campaign. Troy Stang, NWCUA president/CEO, and Danielle Sittu, NWCUA senior vice president for marketing & communications, talked with CUNA News about their commitment to the initiative. Also this week, Teresa Freeborn, president/chief executive of Xceed Financial Credit Union and member of CUNA's Board of Directors, spoke with theCU 2.0 Podcast about the initiative, sharing its broad goals and how it’s doing in market so far.

CUNA’s March Economic Update presented live from GAC

In a special edition of the monthly CUNA Economic Update, Deputy Chief Advocacy Officer and Chief Economist Mike Schenk alongside Senior Economists Jordan van Rijn and Samira Salem presented live from the 2019 CUNA GAC stage. In their analysis of the U.S. economy they discuss credit union operations & impact, diversity, equity & inclusion, and ongoing research projects.

WATCH THIS MONTHS ECONOMIC UPDATE >

Learn the latest in credit union cybersecurity

As cyberattacks become more complex best practices are evolving to stay head of the next breach. Join us at the CUNA Cybersecurity Conference with NASCUS, June 10-12, 2019, in Austin, TX to hear from national experts and engage with the latest issues in cybersecurity. 

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Thank you for your continued participation in and engagement with the CUNA/League system. As ever, if you have any issues you'd like CUNA to address, I encourage you to give me a call directly at 202-508-6745 or email me at [email protected].  

All the best,

Jim Nussle

President & CEO

Credit Union National Association