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DCUC Commends Senate Leadership for CRA Resolution to Overturn CFPB Overdraft Rule

The Defense Credit Union Council (DCUC) expressed its opposition to the Consumer Financial Protection Bureau’s (CFPB) final rule on overdraft fees in a letter to Senate Banking, Housing, and Urban Affairs Committee Chairman Tim Scott (R-SC).  The CFPB’s new rule, issued in December 2024, applies to financial institutions with more than $10 billion in assets […]

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Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by the California Wildfires and Straight-line Winds

The California Department of Financial Protection and Innovation, the Federal Deposit Insurance Corporation, the Federal Reserve Board, the National Credit Union Administration, and the Office of the Comptroller of the Currency, collectively the agencies, recognize the serious impact of the California wildfires and straight-line winds on the customers and operations of many financial institutions and

Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by the California Wildfires and Straight-line Winds Read More »

DCUC Raises Concerns In Letter to NCUA, Comments on CRA

Today, the Defense Credit Union Council, DCUC, sent a letter to the National Credit Union Administration, NCUA, Chairman Todd Harper, expressing its concerns over the potential application of Community Reinvestment Act (CRA) provisions to credit unions. The letter was prompted by recent social media comments made by Chairman Harper indicating his openness to exploring CRA

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The CRA: Good Intentions, Poor Execution

Jake Cooke, writer for The Credit Union Connection We know the Community Reinvestment Act (CRA) requires federal banking regulators to encourage financial institutions to help meet the credit needs of the communities they operate in, including low-income and moderate income neighborhoods.  What you might not be aware of is that Sen. Elizabeth Warren (D-Mass.) has

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