NEW ORLEANS—A digital app may look great, but if it doesn’t deliver a great experience and solve a need, it’s simply “art,” asserts Rahm McDaniel.
Fresh Today
NEW ORLEANS—Don’t expect the wave of class actions lawsuits against credit unions to recede anytime soon, say experts who warn CUs lawyers are zeroing in where they see for their “deep pockets.”
WASHINGTON—A provision in the Economic Mobility Act of 2019 that would repeal the 21% excise tax imposed on certain not-for-profits’ fringe benefits and compensations plans that has been passed by the House Ways and Means Committee, a move that has drawn praise from NAFCU.
State Regulators Express Explicit Support For Fed Legislation Around Cybersecurity, Cannabis Banking
ARLINGTON, Va.–The National Association of State Credit Union Supervisors (NASCUS) and its Credit Union Advisory Council have approved new policies addressing cybersecurity and cannabis banking.
ALEXANDRIA, Va.–By a 2-1 vote, the NCUA board has voted to again delay the effective date for its risk-based capital rules, pushing back to Jan. 1, 2022 rules that were to go into effect on Jan. 1, 2020.
ALEXANDRIA, Va.–Prior to casting his dissenting vote against delaying NCUA’s risk-based capital rules any further, NCUA Board Member Todd Harper conducted a vigorous hour-long questioning of NCUA staff, raising prior statements made by those staff members that seemed to run counter to their new positions, probed for why a rule that applies to a tiny number of CUs is being pushed back again, and questioned why NCUA is trailing other regulators in taking action by nearly a decade.
WASHINGTON—CUNA has sent four different letters to Congress related to money laundering, diversity in the boardroom, cannabis banking, and appraisals.
SAN DIEGO—San Diego County Credit Union said it has set a new Guinness world record for the most paper shredded in eight hours.
MISSOULA, Mont.–Missoula FCU here said it will change its name in September. To reflect its expanded FOM beyond Missoula County, the CU announced it plans to change its name to Clearwater Credit Union, effective Sept. 3.
TUSCALOOSA, Ala.—Alabama Credit Union here and Educators Credit Union of Waco, Texas, have joined CU REVL as referral affiliates, the CUSO announced.