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 July 21, 2017 by CUNA Advocacy

CUNA continues to be involved as a member of the Federal Reserve’s Secure Payments Task Force, which focuses on security issues associated with faster payments

Posted July 21, 2017 by CUNA Advocacy
This week the CFPB released its rulemaking agenda. While there may be some changes to the agenda, which was originally created several months ago, it highlights potential areas of focus for the CFPB in the next few months.
Posted July 21, 2017 by CUNA Advocacy
The House Subcommittee on Terrorism and Illicit Finance held a hearing entitled, “Managing Terrorism Financing Risk in Remittance and Money Transfers."  The Committee discussed the role remittances play and the potential solutions to stop the flow of illicit
Posted July 21, 2017 by CUNA Advocacy
CUNA submitted comments to the Department of Labor in response to their Request for Information (RFI) on the Fiduciary Rule and Prohibited Transaction Exemptions.
Posted July 21, 2017 by CUNA Advocacy
NCUA just announced that the agency plans to reorganize its operations.  The agency will consolidate the five regional offices into three by closing the Albany, New York, and Atlanta, Georgia offices and eliminate four of the agency’s five leased facilities.
Posted July 20, 2017 by CUNA Advocacy
CUNA staff attended NCUA’s July open Board Meeting today.  During the meeting NCUA staff provided a share insurance fund quarterly report and briefed the Board on the 2017 mid session budget.  The Board also approved proposed rules for emergency mergers
Posted July 20, 2017 by CUNA Advocacy
Tim Mislansky – SVP and Chief Lending Officer at Wright Patt Credit Union, discussed housing finance reform before the Senate Banking Committee. Mr. Mislansky is also the Chair of CUNA’s Housing Subcommittee.
Posted July 20, 2017 by CUNA Advocacy
The House Appropriations Committee considered the Fiscal Year 2018 State,  Foreign Operations, and Related Programs Appropriations Act.  The legislation passed the Committee by a vote of 30 22.  The bill's report contains strong support for international credit unions.  The bill also contains $12 million for the Cooperative
Posted July 20, 2017 by CUNA Advocacy
Lawmakers in the House Financial Services Committee announced that they have introduced a resolution of disapproval to nullify the CFPB’s recently published final rule on Arbitration.    The final rule unfortunately hurts the ability of credit unions to limit class action
Posted July 20, 2017 by CUNA Advocacy
On Tuesday, the Senate Finance Committee held a hearing entitled, “Comprehensive Tax Reform Prospects and Challenges.”    During the hearing Senators and panel members discussed ideas and suggestions on ways to proceed with comprehensive tax reform.  The panel
Posted July 20, 2017 by CUNA Advocacy
CUNA sent a letter of support to Senator Rounds and Senator King for their recently introduced legislation – S. 1579, the Bureau of Consumer Financial Protection Advisory Board Enhancement Act.  Shortly after the CFPB was established, the Bureau leadership
Posted July 17, 2017 by CUNA Advocacy
At the request of Senate Finance Committee Chairman Orrin Hatch (R UT), CUNA sent a letter to both him and Ranking Member Wyden  earlier this morning in support of the credit union tax status.  The Committee requested stakeholders to submit comments and proposals to the Committee as they continue
Posted July 17, 2017 by CUNA Advocacy
This week, the House is expected to consider the “Ozone Standards Implementation Act of 2017” (H.R. 806) “21st Century Aviation Innovation, Reform, and Reauthorization Act” (H.R. 2997) (FAA Reauthorization) and “Promoting Interagency Coordination for Review of Natural Gas
Posted July 17, 2017 by CUNA Advocacy
The CFPB officially issued their Notice of Proposed Rulemaking to change the HMDA HELOC reporting requirements from 100 to 500 open end mortgages for 2018 and 2019.  They also stated that these two years will give them more time and opportunity to reconsider the HELOC threshold currently in
Posted July 14, 2017 by CUNA Advocacy
The CFPB on July 10, 2017 finalized its arbitration rule. The rule changes the scope of the ability to use arbitration clauses in consumer financial contracts. In its analysis, the CFPB makes several arguments for why credit unions should be
Posted July 14, 2017 by CUNA Advocacy
Next week, America’s credit unions will again have a seat in front of the Senate Banking Committee dais when they hold a hearing to discuss housing finance reform and maintaining access for small lenders.  Tim Mislansky, SVP and Chief Lending Officer
Posted July 14, 2017 by CUNA Advocacy
Late last night, the credit union movement scored critical wins in the House Appropriations Committee’s markup of the Financial Services and General Government (FSGG) Appropriations Act for Fiscal Year 2018.  The bill includes a number of provisions that were included
Posted July 13, 2017 by CUNA Advocacy
The NCUA released the agenda for their July open Board meeting.
Posted July 13, 2017 by CUNA Advocacy
Today, the House Financial Services Subcommittee on Capital Markets, Securities and Investments is holding a hearing entitled, “Impact of the DOL Fiduciary Rule on the Capital Markets.”    Prior to today’s hearing, CUNA sent a letter to Chairman Huizenga and
Posted July 12, 2017 by CUNA Advocacy
America’s credit unions had a seat at the table with Rick Nichols, President and CEO of River Region Credit Union, testifying before the committee for their hearing on targeted relief for community financial institutions. 
Posted July 11, 2017 by CUNA Advocacy
The Consumer Financial Protection Bureau (CFPB) finalized its rule on arbitration.  While CUNA is currently analyzing the nearly 800 page final rule, we are disappointed that the CFPB continues to apply new rules to credit unions where there is no evidence of consumer
Posted July 11, 2017 by CUNA Advocacy
Director Cordray sent a letter to Senators Rounds and Heitkamp and announced the CFPB would issue a Notice of Proposed Rulemaking that would change the reporting requirements from 100 to 500 open-end mortgages for 2018 and 2019.  
Posted July 10, 2017 by CUNA Advocacy
Congress was out of session last week and both the House of Representatives and the Senate return this week for a busy legislative schedule.  Intrigue surrounds whether Senate Majority Leader Mitch McConnell (R KY) has enough votes to pass a
Posted July 10, 2017 by CUNA Advocacy
The summer conference frenzy kicks off with the Iowa Credit Union League serving as a sponsor of the 2017 Midwestern Legislative Conference Annual Meeting, held this week in Des Moines.  The event is organized
Posted July 07, 2017 by CUNA Advocacy
The Consumer Financial Protection Bureau (CFPB) announced its finalized updates to the “Know Before You Owe” mortgage disclosure rule.   The changes are intended to formalize guidance provide greater clarity and certainty.    The underlying disclosure rule originally went into effect in October of
Posted July 07, 2017 by CUNA Advocacy
Earlier this week, NCUA Chairman McWatters sent another letter to CFPB Director Cordray.  The letter requests that the CFPB provide an exemption for credit unions with more than $10 billion in assets from the CFPB’s examination and enforcement authority.   In his letter, Chairman McWatters reiterated the differences between credit unions as
Posted July 07, 2017 by CUNA Advocacy
The Consumer Financial Protection Bureau (CFPB) announced the appointment of four credit union professionals to the Credit Union Advisory Council (CUAC). Kayce Bell, Chief Development Officer, Alabama Credit Union, Tuscaloosa, Ala.Jack Fallis, President and CEO, Global Credit Union, Spokane,
Posted July 07, 2017 by CUNA Advocacy
Governor Kasich signs Ohio budget bill containing several credit union provisions, including public deposits, a Good Funds correction and remote notarization
Posted July 05, 2017 by CUNA Advocacy
The Department of Labor sent a Request for Information (RFI) to the OMB for the overtime rule which was finalized in 2016. CUNA previously commented on this rule and has been following the litigation surrounding it, which led to a nationwide injunction of the rule in December
Posted June 30, 2017 by CUNA Advocacy

In a recent article, Leah Dempsey, Senior Director of Advocacy and Counsel outlines, “The Current State of the Telephone Consumer Protection Act.” 

Posted June 30, 2017 by CUNA Advocacy
The House Appropriations Subcommittee on Financial Services and General Government passed its FY2018 appropriations bill on a voice vote.  One amendment related to Election Assistance Commission was offered and voted down.    The bill currently includes several provisions of serious concern to credit unions.  First and
Posted June 29, 2017 by CUNA Advocacy
The Senate Banking, Housing and Urban Affairs Committee met today for a hearing to discuss the principles of housing finance reform.   During the hearing, there was a strong, and bipartisan, focus on community based lenders like credit unions.  The
Posted June 29, 2017 by CUNA Advocacy
The House Appropriations Subcommittee on Financial Services and General Government released its Fiscal Year 2018 draft legislation.  Today, the Subcommittee will mark up the bill and expect it to be considered by the full House Appropriations Committee on Thursday, July 13th.  Today’s Subcommittee markup
Posted June 29, 2017 by CUNA Advocacy
A decision handed down in the Second Circuit Court of Appeals held that the Telephone Consumer Protection Act (TCPA) does not allow consumers to revoke consent to receive automated or prerecorded cell phone calls if consent was previously
Posted June 29, 2017 by CUNA Advocacy
CUNA, along with the CUNA Mutual and NAFCU, filed an amicus brief in defense of NCUA’s revised Field of Membership (FOM) rule – the American Bankers Association brought suit against the rule at the end of 2016.
Posted June 29, 2017 by CUNA Advocacy
The House Appropriations Subcommittee on Financial Services and General Government will consider its FY2018 Appropriations bill tomorrow afternoon.  The Community Development Financial Institutions (CDFI) Fund and the Community Development Revolving Loan Fund (CDRLF) both fall under the subcommittee’s appropriations jurisdiction.    Earlier this afternoon, the
Posted June 28, 2017 by CUNA Advocacy
In partnership with the World Council of Credit Unions (WOCCU), CUNA sent a letter to Appropriations Committee and Subcommittee leadership in both the House and Senate.  The letter is in support of proposed report language in the State, Foreign Operations, and Related Programs Appropriations
Posted June 28, 2017 by CUNA Advocacy
The Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit held a hearing today entitled, “Examining the BSA AML Regulatory Compliance Regime.”
Posted June 28, 2017 by CUNA Advocacy
Chairman McWatters has been the Acting Chairman of the NCUA since the middle of January, but that changed on Tuesday when President Trump removed “Acting” from his title and named him Chairman of the NCUA Board.
Posted June 27, 2017 by CUNA Advocacy
CUNA staff attended an SBA Office of Advocacy Roundtable this week to discuss the Dodd Frank required assessment of CFPB mortgage rules and the Small Business Lending Request for Information.
Posted June 26, 2017 by CUNA Advocacy
Both Houses of Congress are in session this week and are expected to recess Friday for the Independence Day work period.  Last week, the Senate released its proposed legislation to repeal and replace Obamacare.  Five Republican Senators (Cruz, Lee, Heller, Paul, and Johnson) have come out
Posted June 26, 2017 by CUNA Advocacy
In a letter to the Department of Defense concerning the implementation of the Department of Defense’s amended Military Lending Act (MLA) Regulation, CUNA and the American Bankers Association, the American Financial Services Association, the Association of Military Banks of America, the Consumer Bankers
Posted June 23, 2017 by CUNA Advocacy
The Senate Banking, Housing and Urban Affairs Committee held a hearing entitled, “Fostering Economic Growth Regulator Perspective.”    During his opening statement, NCUA’s Acting Chairman McWaters gave an overview of his written testimony including how the NCUA is participating in the Economic
Posted June 23, 2017 by CUNA Advocacy
The NCUA adopted a Final Rule on the Statutory Inflation of Civil Money Penalties, adopted a Final Rule on Freedom of Information Act, adopted a Final Rule on Safe Harbor, issued a Proposed Rule on Corporate Credit Unions, approved Request for

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