Keeping member credit unions and leagues current on what and why we are doing for advocacy efforts including legislative, regulatory and state governmental affairs.
Posted April 24, 2017 by CUNA Advocacy
This week the Congress will, among other items, be considering legislation to fund government operations through September 30th 2017, the end of this fiscal year. Current government funding ends Friday and at midnight and action is necessary to avert a
Posted April 23, 2017 by Ryan Donovan
A look at the week ahead in Washington for credit unions.
Posted April 21, 2017 by CUNA Advocacy
Earlier this week, the CFPB announced it would be making changes to its disclosure requirements for its current ex parte policy on rulemakings. Under the current policy, an “ex parte presentation” means “any written or oral communication” by “any person
Posted April 20, 2017 by CUNA Advocacy
This morning, the NCUA held its monthly board meeting. During the meeting, the NCUA received quarterly reports on the Share Insurance Fund and Corporate Stabilization Fund and approved changes to Illinois Member Business Lending Rule. The closed portion of the
Posted April 20, 2017 by CUNA Advocacy

We are continuing to wade through the nearly 600 pages in the Financial CHOICE Act 2.0, but our initial analysis indicates that there are several aspects of it that are good for credit unions, others that are more helpful to other financial services marketplace participants, and certain changes we would have liked to see in the legislation that are not.

Posted April 20, 2017 by CUNA Advocacy
Today, the CFPB announced a six month delay of the effective date of the prepaid accounts rule. Originally scheduled to take effect October 1 of this year, the delay pushes the effective date to April 1, 2018. While CUNA filed a comment letter with the CFPB urging for
Posted April 20, 2017 by Ryan Donovan

Next week’s hearing on the Financial CHOICE Act is the first step in a complex process that we hope will produce a new law that reduces credit unions’ regulatory burden so they can more fully serve their members. 

Posted April 19, 2017 by CUNA Advocacy
CUNA along with the National Association of Federal Credit Unions and Independent Community Bankers Association President sent a letter to the Federal Reserve Board addressing concerns with the future of faster payments.  The letter asks the Fed to serve additional
Posted April 14, 2017 by CUNA Advocacy

This week, Legislatures in Montana and Tennessee sent their governors bills impacting credit unions for signatures.

Posted April 14, 2017 by CUNA Advocacy
This morning, CUNA and the Leagues sent a letter to Chairman Crapo (R ID) and Ranking Member Brown (D OH) of the Senate Committee on Banking, Housing and Urban Affairs.
Posted April 13, 2017 by CUNA Advocacy
The CFPB released a proposed rule today to make numerous technical clarification operational changes to the Home Mortgage Disclosure Act (HMDA) to assist with the transition to the new 2018 version of the HMDA regulation.
Posted April 12, 2017 by CUNA Advocacy
CUNA received preliminary changes to the House Financial Services CHOICE 2.0 bill.
Posted April 10, 2017 by CUNA Advocacy
CUNA and the Independent Community Bankers of America filed a joint comment letter with the  Department of Commerce, National Institute of Standards and Technology (“NIST”) on their “Proposed Update to the Framework for Improving Critical Infrastructure Cybersecurity.”  The letter supports
Posted April 07, 2017 by CUNA Advocacy
As expected, the Department of Labor (DOL) published a 60 day delay for the Fiduciary Rule. While the delay very significantly alleviates a number of compliance burdens associated with the rule, it is not a complete delay. The final rule
Posted April 07, 2017 by CUNA Advocacy

League advocacy results in movement of credit union legislation in New Hampshire, New Mexico, Delaware and Washington. 


Posted April 07, 2017 by CUNA Advocacy
The House Financial Services Subcommittee on Financial Services met for a hearing today entitled “Examination of the Federal Financial Regulatory System and Opportunities for Reform.” Prior to the hearing, CUNA sent a letter to Subcommittee Chairman Luetkemeyer (R MO) and Ranking
Posted April 07, 2017 by CUNA Advocacy
The House Committee on Financial Services met with Director Cordray for their semi annual report on the CFPB. Prior to the hearing, CUNA sent a letter  to Chairman Hensarling and Ranking Member Waters outlining a number of concerns with Director
Posted April 06, 2017 by CUNA Advocacy
Earlier today, the Electronic Payments Coalition, which CUNA is a member, released a study conducted by the Strategy and Research firm, Javelin. The study shows that smaller merchants care more about value of services received than the cost of interchange
Posted April 05, 2017 by CUNA Advocacy
Senators Wyden, Murkowski, Warren, and Markey introduced S. 836, legislation to address the disparity in the treatment of certain residential loans made by banks and credit unions.
Posted April 05, 2017 by CUNA Advocacy
Today the Senate Banking Subcommittee on Economic Policy will meet to discuss the current state of retirement security in the United States. Prior to the hearing, CUNA sent a letter reiterating support for the Senior$afe Act of 2017 (S.
Posted April 04, 2017 by CUNA Advocacy

We believe a six-month delay will not afford prepaid card issuers and vendors adequate time to make the changes necessary under the final rule, particularly regarding replacement of physical card packaging to include new disclosures.

Posted April 04, 2017 by CUNA Advocacy
On Monday, Senate Banking Chairman Crapo signed off on a discharge petition a group of Republican Senators started in March to prevent the CFPB from implementing regulations on prepaid accounts. The petition will allow the measure to bypass the committee,
Posted April 04, 2017 by CUNA Advocacy
In March, CUNA joined several other groups filling an amicus brief in a court case that originally found the CFPB’s structure to be unconstitutional, however, this decision has since been vacated.  The U.S. Court of Appeals for the D.C. Circuit
Posted April 02, 2017 by Ryan Donovan
A look at the week ahead in Washington for credit unions.
Posted March 31, 2017 by CUNA Advocacy
CUNA’s President and CEO, Jim Nussle, sent letters to Capitol Hill lawmakers, urging them to support the Treasury’s Community Development Financial Institutions (CDFI) Fund.  The Administration has requested Congress eliminate funding for the CDFI Fund in both FY2017 and FY2018.
Posted March 31, 2017 by CUNA Advocacy
Earlier today, at the request of the Senate Banking Committee, CUNA participated on a panel for Senate staff to hear small lender perspectives on housing finance reform. In addition to CUNA, the panel included representatives from the ICBA, NAFCU, the
Posted March 31, 2017 by CUNA Advocacy
Yesterday the CFPB’s Credit Union Advisory Council (CUAC) met in Washington, D.C.
Posted March 30, 2017 by CUNA Advocacy

This should facilitate compliance and data collection under both regulations and allow for collection under some circumstances where previously it would have been prohibited. 

Posted March 30, 2017 by CUNA Advocacy

While our concerns with the proposed updates were minimal, we used the opportunity to raise ongoing concerns with BSA/AML requirements with FinCEN.

Posted March 30, 2017 by CUNA Advocacy
Yesterday, the Supreme Court released its opinion in Expressions Hair Design v. Schneiderman, which is the credit card surcharging case from New York state.  At issue is whether a New York law prohibiting credit card surcharging regulates the way prices
Posted March 30, 2017 by CUNA Advocacy
Yesterday, seventeen Members of Congress sent a letter to Chairman Graves and Ranking Member Quigley of the House Appropriations Subcommittee on Financial Services and General Government. The letter reminded the Chairman and Ranking Member
Posted March 29, 2017 by CUNA Advocacy
Yesterday, the U.S. Senate Committee on Banking, Housing, & Urban Affairs held a hearing on Fostering Economic Growth The Role of Financial Companies.  During his opening remarks, Chairman Crapo (R ID) said, “As policymakers, we must diligently and frequently
Posted March 28, 2017 by CUNA Advocacy
Today on Capitol Hill, the Financial Services Subcommittee of Financial Intuitions and Consumer Credit held a hearing on the State of Bank Lending in America – where they discussed the recent trends in bank lending and how the current regulatory
Posted March 27, 2017 by CUNA Advocacy
In the original version of the CHOICE Act, House Financial Services Committee Chairman Jeb Hensarling (R TX) proposed increasing the CFPB’s supervisory threshold, meaning fewer credit unions would be subject to duplicative examinations and other burdensome aspects of double supervision including data
Posted March 26, 2017 by Ryan Donovan
After an extensive lobbying campaign, the Cooperative Credit Union Association advanced credit union branching legislation to the Governor’s desk in New Hampshire.
Posted March 26, 2017 by Ryan Donovan
A look at the week head in Washington for Credit Unions.

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