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Removing Barriers Blog

CUNA Submits Comments to NCUA on Proposed Accuracy in Advertising Rule
Posted December 01, 2017 by CUNA Advocacy

CUNA submitted a comment letter in response to NCUA’s proposed Accuracy in Advertising rule.  This rule would permit a fourth short-form category for credit unions to communicate their status as “insured by NCUA,” and also eliminate the need for the advertising statement to be included in radio and television advertisements between 15 and 30 seconds duration, as well as published statements of condition—the latter two provisions comprise restraints that have not been applicable to similarly FDIC-insured banking organizations since 2011.

In proposing this rule change, NCUA would effectively provide parity in this advertising space among credit unions and banks. CUNA supports these changes, as well as efforts to modernize provisions that address advertisements in all forms of communications, regardless of delivery mode—be it mobile, text, or social media-driven.