In this edition of the New York Minute, we’re bringing you the latest updates from the industry. From national events, community support, special recognitions, and more, we have the latest news statewide.

Register Today: America’s Credit Unions’ Congressional Caucus 2025

Credit union leaders: registration is now open for the 2025 Congressional Caucus, taking place this fall in Washington, D.C.! Hosted by America’s Credit Unions, this high-impact advocacy event brings together credit union professionals from across the country for in-depth policy discussions, coordinated meetings with lawmakers, and expert briefings—all just steps from Capitol Hill.

Congressional Caucus is where intention turns into impact. Attendees will engage directly with lawmakers, administration officials, and key policy influencers to advocate for the issues most pressing to the credit union movement. The program includes guided hill hikes, messaging workshops, and closed-door policy sessions, giving participants the tools and confidence to represent their credit union’s priorities effectively.

This event is designed for CEOs, advocacy professionals, board members, and league leaders who are deeply committed to the future of our industry. Whether you’re a seasoned advocate or new to federal engagement, the Caucus is your opportunity to be heard where it matters most.

Make your voice count. Visit the America’s Credit Unions website to register and start planning your trip to D.C. today.

Reliant Credit Union Supports Children in Brockport Central School District

Reliant Credit Union is helping local students step into the school year with confidence. As part of its Feet Forward program, Reliant recently donated 58 pairs of brand-new sneakers to students at Barclay Elementary School in the Brockport Central School District. This marks the first donation of 2025 for the program, which has now provided over 2,500 pairs of sneakers since its launch in 2016.

Feet Forward is a commitment to student wellness and dignity. In partnership with Rochester Running Company owner Jonathan Griffiths, Reliant ensures that each pair is high-quality and well-fitted, giving kids the tools to succeed inside and outside the classroom.

The Association applauds Reliant for its continued dedication to uplifting youth and strengthening communities across the Finger Lakes.

SeaComm FCU Receives Award from GreenPath Financial Wellness

SeaComm Federal Credit Union has received national recognition from GreenPath Financial Wellness, earning the inaugural Partner Excellence Award for Debt Relief Advocacy. This award honors SeaComm’s outstanding commitment to supporting members through financial challenges with compassion and expertise.

Since 2008, SeaComm has partnered with GreenPath to offer free financial counseling, debt management plans, credit report reviews, and educational resources. In the past year alone, over 150 SeaComm members accessed these services for the first time, highlighting the credit union’s efforts to actively connect members with meaningful financial solutions.

SeaComm’s long-standing partnership with GreenPath exemplifies the credit union philosophy of people helping people, offering critical support when members need it most. The New York Credit Union Association congratulates SeaComm on this well-deserved honor and its continued leadership in financial wellness advocacy.

CFPB Will Not Prioritize Enforcement of Small Business Lending Data Collection Rule

By InfoSight360

The small business lending data collection rule, finalized in March 2023, requires covered financial institutions to collect and report data in connection with applications for credit received from a small business. The rule has been tied up in litigation since its issuance and is currently paused by the 5th Circuit Court of Appeals for members of America’s Credit Unions (ACU) and the American Bankers Association.

In early April, the Consumer Financial Protection Bureau (CFPB) announced its plan to reopen the rule to make changes. While this was welcome news for the industry, until that rulemaking is completed, institutions not covered by the court’s injunction (e.g., those credit unions not affiliated with ACU) remain subject to the mandatory compliance dates outlined below:

• July 18, 2025 – a financial institution that originated at least 2,500 covered credit transactions to small businesses in each year of its determination period
• January 16, 2026 – a financial institution that originated between 500 and 2,499 covered credit transactions to small businesses in each year of its determination period
• October 18, 2026 – a financial institution that originated between 100 and 499 covered credit transactions to small businesses in each year of its determination period

Having one set of financial institutions subject to compliance as early as July 18, 2025, while others are protected by the court’s injunction, created a bifurcated enforcement environment that the CFPB deemed unfair. As a result, on April 30, 2025, the agency issued a press release in which it announced that it will not prioritize enforcement or supervision of the small business lending data collection rule with regard to financial institutions that are not covered by the court’s injunction. The Bureau said that it looks forward to resolving the status of the rule and ensuring fair, consistent treatment for all entities impacted by the regulation.

---

Stay ahead of the curve by subscribing to receive credit union news and updates directly to your inbox.