Credit Union News

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Debit Interchange Toolkit, CPPA, Call Reports, and Board Recap

The California and Nevada Credit Union Leagues is drafting its comment letter to the Federal Reserve Board on its Regulation II debit card interchange proposal.

The Leagues urges credit unions to also submit their letters.

You can view the Leagues’ toolkit to assist you. The comment period closes May 12.

California Privacy Protection Agency
In other news specifically for California credit unions, the California Privacy Protection Agency (CPPA) is hosting three statewide stakeholder sessions to discuss its proposed regulations under the California Consumer Privacy Act.

The draft regulations focus on automated decision-making technology, risk assessments, and cybersecurity audits.

National Credit Union Administration
The National Credit Union Administration (NCUA) has implemented changes to the 5300 Call Report.

The agency will have credit unions with assets totaling $1 billion or more reporting their fee income derived from overdraft and non-sufficient fund fees.

However, credit unions with less than $1 billion in assets are exempt from submitting data on overdraft and NSF fees. The new reporting requirements affect the first quarter 2024 Call Report, due during the week of April 30.

NCUA Board Meeting Recap
Additionally, the National Credit Union Administration Board met on April 18.

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