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NCUA 2024 Supervisory Priorities: In late January, the NCUA issued its annual supervisory priorities for its 2024 examination program.
CFPB Issues Revised Supervisory Appeal Process: On February 16, the Consumer Finance Protection Bureau (CFPB) issued its revised Supervisory Appeal Process on how financial institutions can appeal findings from examinations last updated in 2015. FCC Revocation of Consent Rule: On February 16, the Federal Communications Commission (FCC) approved its proposal on revocation of consent under the Telephone Consumer Protection Act (TCPA) codifying and strengthening its prior guidance against robocalls. FTC Seeks Further Comment on Final Rule to Fight AI Impersonation of Individuals: On February 15, the Federal Trade Commission (FTC) issued supplemental notice of proposed rulemaking seeking further comment on a rule that would prohibit the impersonation of individuals by using artificial intelligence (AI). AI Update: On January 12, the House Financial Services Committee announced the formation of a bipartisan 12-member workgroup on Artificial Intelligence (AI) and its impact on financial services to better regulate the rapid implementation of AI into operational matters by financial institutions and third parties. NCUA Issues HMDA Regulatory Alert: On February 1, the National Credit Union Administration (NCUA) issued a regulatory alert (24-RA-01) for Home Mortgage Disclosure Act (HMDA) requiring compliance with the Consumer Financial Protection Bureau (CFPB)’s Reg C. NCUA Adopts Interpretive Ruling on Minority Deposit Institution Preservation Program: The National Credit Union Administration Board held its second open meeting of 2024 and adopted revisions to an interpretive ruling and policy statement (IRPS) 13-1, governing the Minority Depository Institution (MDI) Preservation Program for credit unions. Discounted Pricing for IMPACT 24 Ending Soon: Receive $50 off registration by registering before February 23, 2024. Additionally, Small Credit Unions, Grassroots Coordinators and CREW Young professionals are eligible for discounted pricing.
Congress in Recess; Minnesota Legislative Session Underway: Congress is currently in recess and will return prior to the expirations of continuous resolutions that currently fund the government. Data Activation Certificate ProgramThe Data Activation certificate program is guaranteed to help you make sense of your data, cultivate a strategic plan, and put your credit union’s data to work. You do not need to be a data lover or even a math lover to leverage your data to improve your member's lives. The only criteria to attend is that you want to enhance your member's lives. Watch this 2-minute video to discover all the benefits of participating. Choose from any of these 2024 dates! March 5 – 26, 2024 April 30 – May 21, 2024 June 4 – 25, 2024 September 5 – 26, 2024 Who Should Attend: This event is great for C-Suite, Technology, and Marketing Leaders. Instructor: Anne Legg, Founder, THRIVE Cost: $895 – Use Promo Code: MNSAVE (all caps) to save $246 What's Included: Seven online live classes (60 minutes each), Industry Book, Online Knowledge exchange platform, and Take-away Toolkit: Worksheets, assessment forms, templates. Sessions will be recorded in case you can't attend all of the live sessions. Learn more and register for the dates that work best for you! Sales Training for Your Credit UnionAs a credit union, your goal is to help your members achieve all of their financial needs, wants, and dreams. To reach this goal you need a team that is consistently promoting the products and services that will help your members save time and money, make more money, and bring greater levels of financial security to their life. The only problem is the member service your team provides is best described as “Order Taking” rather than “Value Creating.”
SalesCU is an Award Winning three-day live online workshop that will transform the way you train employees to sell at your credit union! Watch this 3-minute Intensive Informational Video to learn more or contact Nick Brown directly at 801-860-5807 and [email protected]. Trainers: Nick Brown, President/CEO of SalesCU and Jake Warnick, Master Trainer Workshop Fees & Who Should Attend: > Two-day Frontline Workshop – Any employee that opens new accounts, processes loans, or trains staff in these functions. Fee: $474 *The Lender Sales Workshop is the first 2 days only of the 3-day Intensive Workshop. > Three-day Leadership Workshop – All senior leaders and leaders of branches, lending, or contact center. Fee: $699 The workshops are presented in daily sessions which run 9:30 a.m. to 2:00 p.m. (MT) with a two-hour morning session, 30-minute lunch break, and two-hour afternoon session. Learn more and register for the dates that work best for you! Choose from any of these 2024 Workshop Dates! – March 12-14 (Registration closes 3/1/24) – April 9-11 (Registration closes 3/29/24) – May 14-16 (Registration closes 5/3/24) – August 27-29 (Registration closes 8/16/24) – September 10-12 (Registration closes 8/30/24) – October 1-3 (Registration closes 9/20/24) Join MnCUN on Wednesday, Feb. 28 at 1:00 pm to learn more about TruLync Medicare Advisors and this new partnership opportunity.
TruLync Medicare Advisors is a licensed insurance agency designed to support credit union members through the Medicare process. Partnered with all seven Medicare providers in the state, the service is designed to make sure credit union members have the information they need to select the coverage most appropriate for their needs. The webinar will include results of the 2023 pilot program; expansion plans for 2024; and details about how your credit union can provide this impactful service to your members. The webinar is free and will be recorded. We do ask that you please register. With questions, contact Kris Jacobsen, MnCUN Vice President of Business Development, by email or phone at 612-244-7138. Credit union and industry partner employees are invited to Children’s Hospitals Week (CHW), where we will get to celebrate the Founders Award! It is April 8-11 in Orlando, FL at the Walt Disney World Dolphin Resort.
Register online and use the ‘CMN Hospitals Corporate Partner’ registration type. This link also provides more information about the conference like the agenda, location, and more. CMN Hospitals is waiving the registration fee for any credit union attendee. Before registering, please contact Nick Coleman for details: [email protected]. In addition to the typical CHW programming, there will be three unique things happening for CU4Kids.
This opportunity is open to executives, CUFK coordinators, league employees and other industry partner employees. We want to celebrate this prestigious recognition with anyone that has helped impact the success of CU4Kids. If you have questions about the event or the registration process, contact Nick Coleman, [email protected].  Join the Minnesota Credit Unions for Kids committee at the Annual CU4Kids Karaoke for Kids event on Thursday, April 18 as a part of ACCELERATE 24. All proceeds from the event to benefit Gillette Children's Specialty Healthcare! This year, Twin Cities Karaoke will offer your favorite songs to sing, take song requests and dance through the night! Individual Registration Individual registrations are open for $20 per attendee for anyone not attending the Accelerate 24 conference. Registered attendees of the Accelerate 24 conference are welcome to attend this event at no additional cost. Sponsorship OpportunitiesStage Manager Sponsorship ($2,500) - Only 3 Available
10 complimentary drink tickets, Event signs/Announcements, Recognition on Minnesota CU4Kids website, Corporate logo featured at event, 2 Fast Track Cards Rock Star Sponsorship ($1,500) 8 complimentary drink tickets, Event signs, Recognition on Minnesota CU4Kids website, Corporate logo featured at event, 1 Fast Track card Opening Act Sponsorship ($1,000) 5 complimentary drink tickets, Corporate logo featured at event Stagehand Sponsorship ($800) Corporate name featured on sponsor board Crowd Sponsorship ($400) Corporate name featured on sponsor board For further details please see the event flyer! Please contact Kim Peterson via email with any questions. MnCUN held its first in person Fraud Prevention Summit yesterday at Wings Credit Union in Apple Valley. 50 attendees from 26 credit unions across the state attended. The summit included expert presentations on various fraud topics, with opportunities for Q&A, preventive and remediation resources, and small group discussions for attendees to share information and resources.
“Fraud is the most common response I get when I ask our credit unions what keeps you up at night?” said Mara Humphrey, President and CEO of the Minnesota Credit Union Network. “We are proud to offer this forum and will continue to share resources to help credit unions work together on this challenging issue.”
America’s Credit Unions has announced plans to temporarily suspend the awards program in 2024. This means that the Dora Maxwell, Louise Herring, and Desjardins awards have been paused for this year. Leagues still have the opportunity to offer these awards on their own and the Minnesota Credit Union Network looks forward to opening the state-level awards program in May.
American's Credit Unions is enthusiastic about establishing fresh recognition opportunities in 2025 and will keep you informed as more details unfold. For questions on the state-level programs, contact Julia Miller, MnCUN Director of Communications. FFIEC Issues Statement on Examination Principles: On February 12, the Federal Financial Institutions Examination Council (FFIEC) issued a statement on examination principles related to valuation and bias in residential lending.
US Supreme Court Rules on Fair Credit Reporting Act (FCRA): On February 9, the Court issued its unanimous slip ruling finding that the FCRA waives sovereign immunity and the federal government can be liable for incorrect reporting that damages consumer credit scores. State Junk Fees Litigation: On February 8, the New York Attorney General announced an historic judgment of $77M against three merchant cash advance companies accused of usury and fraud in illegal high-interest short-term loans with undisclosed fees on small businesses. |
The PulseThe Pulse is MnCUN's newsletter that keeps credit union professionals and board members updated on current news and information. Archives
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