The Bureau of Consumer Financial Protection, along with the Federal Reserve Board, updated the dollar thresholds in Regulation Z (Truth in Lending or TILA) and Regulation M (Consumer Leasing) that will apply for determining exempt consumer credit and lease transactions in 2019. 

The following table shows pending regulatory proposals quickly coming to deadline. Cornerstone and Credit Union National Association will be submitting comments. Credit unions are encouraged to use PowerComment to file comment letters with regulators. 

Yesterday, the U.S. Senate narrowly confirmed Kathy Kraninger to lead the Bureau of Consumer Financial Protection, replacing Acting Director Mick Mulavaney. The confirmation vote was 50 to 49. Kraninger will serve a five-year term as director.

Data on the financial performance of federally insured credit unions for the quarter ending Sept. 30, 2018, are now available from the National Credit Union Administration.

Catalyst Corporate Federal Credit Union exemplifies the cooperative spirit with their support of YOUR Cornerstone Credit Union Foundation. Catalyst Corporate is not only a sponsor of the Foundation’s annual golf tournament and Festival of Trees but also conducts ongoing fundraisers for the Foundation. Activities include offering five extra basis points on new CIF investments, holding office penny wars, and letting its staff donate funds that enables them to wear shorts during the summer.

Thankfully, the Atlantic Hurricane Season ended Nov. 30, and coastal residents now have a respite from any hurricane or tropical storm threats. The Cornerstone Credit Union Foundation checked in with credit union volunteers and staff who received disaster relief grants to help cover the wind, rain, and flood damage sustained in 2017's Hurricane Harvey. Following are the stories of Cary Mathis, Fran Lovelace, and Kristen Merchant.

Arlington, Texas-based Texas Trust Credit Union’s promotional home equity campaign received a silver Davey award from the Academy of Interactive and Visual Arts (AIVA). 

Senate Majority Leader Mitch McConnell (R-Ky.) announced the Senate will vote Thursday on the nomination of Kathy Kraninger to lead the Bureau of Consumer Financial Protection. Kraninger was nominated to replace Acting Director Mick Mulvaney and was approved by the Senate Banking Committee in August.

The December 2018 Dividend Guidelines from ALM Resources are now available for download on the Cornerstone Credit Union League website. 

While bill filing began on Nov. 15, 2018, the 92nd General Assembly – Regular Session convenes on Monday, Jan. 14, 2019. Following are the latest updates from both chambers.

Oklahoma Governor Mary Fallin declared a state of emergency on Monday for 12 counties due to damage caused by Friday's storms. The Cornerstone Credit Union Foundation reminds members that it is poised to help credit union volunteers and employees impacted by those storms.