WASHINGTON—Banking and credit union trade groups are speaking out against the CFPB’s final overdraft rule, which caps overdraft program fees at $5 and applies to financial institutions, including credit unions, above $10 billion in assets.
Credit unions have built a legacy of putting their members first, fostering financial wellness, and making a tangible difference in America’s communities. Sustaining a high level of service is very similar to the game of golf. You must continuously work at it.
“You’re gonna need a bigger boat!” This movie quote was made famous by the fictional character Chief Martin Brody (Roy Scheider) in the 1975 movie, “Jaws.”
After seeing that the man-eating shark they are hunting is much larger than originally expected, Chief Brody unemotionally delivers this famous quote to the professional shark hunter “Quint” (Robert Shaw). It is also the first time the movie audience sees the enormous shark, which makes the quote’s delivery more effective. ALEXANDRIA, Va.– NCUA’s proposed 2025-26 budget is simply too high, according to the industry’s two largest trade groups, which offered input and feedback on where they want to see the agency take action on its expenses.
And the trade groups were not the only ones concerned during Friday’s budget hearing. NCUA Vice Chairman Kyle Hauptman outlined several issues he sees with the agency’s expenses, delivering some hard questions to staff. The Defense Credit Union Council (DCUC) and America’s Credit Unions advised NCUA that now is the time to end the steady increases in the annual budget—which ACU said are leading to a lack of confidence among credit unions in the agency’s ability to produce a workable and fair budget. DCUC Urges Hill To Consider CUs In New Community Banking Plan (CUToday, November 14, 2024)11/14/2024
WASHINGTON—The Defense Credit Union Council (DCUC) is encouraging French Hill (R-AR) to consider credit unions in his new community banking plan.
Hill, who has been positioning himself to lead Republicans on the House Financial Services Committee, has introduced a plan titled "Make Community Banking Great Again." DCUC Chief Advocacy Officer Jason Stverak sent a letter to Hill that not only asks for credit union consideration in the legislation, but also outlines credit union priorities. WASHINGTON—The Defense Credit Union Council (DCUC) has sent a letter to Senate Judiciary Committee Chairman Dick Durbin (D-IL) and Ranking Member Lindsey Graham (R-SC) stating the trade group’s opposition to legislative proposals targeting credit card interchange rates.
In the letter, DCUC highlights “significant risks” these measures pose to military service members, veterans, and their families as the committee prepares for the hearing titled, “America’s Big Ticket: Examining the Impact of the Visa-Mastercard Duopoly on Small Businesses and Consumers. by Jason Stverak
As we approach Veterans Day, it’s a time to reflect and honor our Nation’s heroes—the generations of men and women who have selflessly served in our armed forces. A tribute to these communities is not only offered by words of deep appreciation or gratitude, but through action. For decades, DCUC has seen the level of commitment and service credit unions offer military, veterans, and underserved communities; one that has historically and statistically distinguished credit unions as strong advocates for military and veteran populations. This is why DCUC coins this part of the industry as “defense credit unions,” encompassing both credit unions that began decades ago on or near military installations and newly established ones committed to building strong connections with local military and veteran communities. Defense credit unions are united in their dedication to helping our Nation’s service members, veterans, and their families achieve financial success. By Michael Ogden DCUC calls on Congress to take up five credit union issues in this post-election period. Congress returns to work this week in a post-election period that officials with the Defense Credit Union Council (DCUC) said they hope can be a productive one for credit unions, despite it being a lame-duck session for lawmakers.
In a letter to House and Senate leaders, DCUC Chief Advocacy Officer Jason Stverak laid out five issues his organization sees as "critical legislative priorities" for lawmakers to take up that specifically impact the 200 defense credit unions. DCUC Tells New Administration How It Can Help Servicemembers, CUs (CUToday, November 6, 2024)11/7/2024
WASHINGTON—The Defense Credit Union Council has sent a letter to President-Elect Donald Trump highlighting key areas where his administration can make a “substantial impact” on the lives of servicemembers, veterans and their families.
In addition to congratulating Trump on his win, DCUC asked for a meeting to discuss critical issues facing defense credit unions and the communities they support. WASHINGTON—With Donald Trump defeating Kamala Harris to become the 47th president of the United States, credit unions should be paying close attention to those appointed by Trump to head the various committees, one political expert is saying.
Defense Credit Union Council (DCUC) chief Advocacy Officer Jason Stverak shared that perspective, adding Republican leadership will hopefully end the CFPB’s heavy emphasis on so-called “junk” fees. |
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