Regulatory Relief

Where We Stand

Congress should pass legislation that modernizes the Consumer Financial Protection Bureau (CFPB) and incentives common-sense regulation.

Impact on Credit Unions

Regulatory relief continues to be a significant issue of concern for credit unions, Leagues, and CUNA. Credit unions must comply with a number of new and revised requirements from not only NCUA and the Bureau, but also from the Federal Reserve Board, the Financial Accounting Standards Board, and others. Credit unions are rightly concerned about the range of rules they are facing.​

CUNA continues to push for regulatory relief by urging NCUA to refrain from issuing even more regulations and to address examination concerns, and by seeking regulatory improvements such as eliminating restrictions associated with field of membership that are not statutorily required.​

In Title 1 of Financial Services Chairman Jeb Hensarling's Financial CHOICE Act, credit unions with a leverage ratio above 10 percent would have an option to operate under reduced regulatory burden. This would include relief from NCUA's interest rate risk, liquidity requirements, and risk-based capital requirements.​

Victories We've Won

The Administration issued an Executive Order focused on the financial system that calls for “efficient, effective and appropriately tailored” regulations mirroring CUNA's call for tailored regulations. 

CUNA has had multiple witnesses testify before Congress in 2017 on common-sense regulations and regulatory relief. 

The DoL Fiduciary rule has been delayed 18 months to become effective in July of 2019. 

S. 2155 - the  Economic Growth, Regulatory Relief and Consumer Protection Act was signed into law.

CUNA released a White Paper entitled, "CUNA's Common-Sense Reforms to Bureau of Consumer Financial Protection Rules & Procedures - Summer 2018 


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