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 September 22, 2017 by CUNA Advocacy
In March, the FCC proposed a rule that would codify the “Do Not Originate” initiative proposed by the FCC and launched by the industry strike force.
Posted September 22, 2017 by CUNA Advocacy
CUNA took to the media to continue dvocacy efforts urging the Senate to take action on the Congressional Review Act of the Consumer Financial Protection Bureau’s Arbitration Rule.
Posted September 21, 2017 by CUNA Advocacy
CUNA joined with CUNA Mutual Group and the Financial Services Information Sharing Center (FS ISAC) Thursday for a webinar on how credit unions can deal with the fallout after a data breach.
Posted September 21, 2017 by CUNA Advocacy
Politico published an article citing a recently released poll by the Cato Institute that “Americans don’t want more rules placed on the financial industry, but rather more enforcement of existing rules and better rules.”
Posted September 21, 2017 by CUNA Advocacy
The Consumer Financial Protection Bureau (CFPB) finalized CUNA supported changes to its Equal Credit Opportunity Act (ECOA) regulations.
Posted September 21, 2017 by CUNA Advocacy

The HMDA proposed policy guidance issued Wednesday describes the loan-level HMDA data the bureau proposes to make available to the public starting in 2019. 

Posted September 21, 2017 by CUNA Advocacy
The NCUA released the agenda for the public Board meeting to be held on September 28.  The NCUA board will discuss closing the Temporary Corporate Credit Union Stabilization Fund at the meeting.
Posted September 18, 2017 by CUNA Advocacy
The House is in recess this week but will return next week to advance its busy schedule.  The Senate will be in session today and recess on Wednesday.
Posted September 15, 2017 by CUNA Advocacy

CUNA submitted comments to the CFPB in response to their Request for Information (RFI) Regarding the Small Business Lending Market. 

Posted September 14, 2017 by CUNA Advocacy
CUNA and DCUC had a meeting with the Department of Defense (DoD) to reiterate credit union concerns and urge for more clarification for member credit unions on the changes to the MLA that are set to become effective in less than three weeks.
Posted September 14, 2017 by CUNA Advocacy
The House voted in favor of H.R. 3354, an appropriations bill that contains several major victories for credit unions. The bill keeps NCUA out of the appropriations process, a provision the CUNA League system advocated heavily for on Capitol Hill, and contains significant regulatory relief, including changes to the Consumer Financial Protection Bureau (CFPB).
Posted September 13, 2017 by CUNA Advocacy

The House of Representatives adopted the CUNA/League-backed Amodei-Aguilar amendment on NCUA by voice vote this afternoon.

Posted September 13, 2017 by CUNA Advocacy
CUNA sent a letter to House Speaker Paul Ryan and Minority Leader Nancy Pelosi urging them to support the bipartisan Amodei/Aguilar Amendment – and keep the NCUA out of the appropriations process. 
Posted September 13, 2017 by CUNA Advocacy
PenFed Credit Union issued a statement in support of NCUA merging the Corporate Stabilization Fund into the National Credit Union Share Insurance Fund and providing a rebate to credit unions in 2018.  T
Posted September 13, 2017 by CUNA Advocacy
CUNA President & CEO Jim Nussle sent a letter to Equifax requesting that the credit reporting agency notify all consumers who have been impacted by the data breach.
Posted September 13, 2017 by CUNA Advocacy
Today, the CFPB’s final rule that amends Regulation C regarding HELOCs was published in the Federal Register. The rule, which the Bureau issued late last month, temporarily increases the threshold for collecting and reporting HELOC data under HMDA.  Under the Regulation C rules that are scheduled to take effect in January
Posted September 12, 2017 by CUNA Advocacy
NCUA announced that the agency will hold a budget briefing in Alexandria at the agency’s boardroom.  The budget briefing will be on Wednesday, Oct. 18, from 2 p.m. to 4 p.m. EST.
Posted September 12, 2017 by CUNA Advocacy
CUNA joined the Independent Community Bankers (ICBA) and the National Association of Federally insured Credit Unions (NAFCU) in sending a letter to Senate and Committee leadership in support of H.J. Res 111.
Posted September 11, 2017 by CUNA Advocacy
The House and Senate were both scheduled to be in session all week, but due to Hurricane Irma and the aftermath there will not be any legislative work done today, however they are currently scheduled to come back tomorrow evening.
Posted September 08, 2017 by CUNA Advocacy
The House Financial Services Subcommittee on Financial Institutions and Consumer Credit held a hearing entitled, “Legislative Proposals for a More Efficient Federal Financial Regulatory Regime.”  Members and witnesses took the opportunity to consider legislative proposals with the intent to streamline regulatory requirements and eliminate inefficiencies, while also maintaining consumer safeguards.
Posted September 07, 2017 by CUNA Advocacy

Senate Banking Chairman Mike Crapo said he expects the Senate to act soon on the resolution of disapproval on the CFPB's arbitration rule soon.

Posted September 07, 2017 by CUNA Advocacy
NCUA’s Chairman McWatters sent a letter to Chairman Frelinghuysen and Ranking Member Lowey of the House Appropriations Committee to express the NCUA’s position on provisions included in FY2018 Financial Services and General Government (FSGG) Appropriations Act.
Posted September 07, 2017 by CUNA Advocacy
CUNA sent a letter to Representative Mark Amodei and Representative Pete Aguilar in support of their amendment to strike Section 906 of Division D of H.R. 3354, the D the Department of the Interior, Environment, and Related Agencies Appropriations Act for Fiscal Year 2018.  If passed, their amendment would strike the language that would bring the NCUA under the appropriations process. CUNA opposes bringing the NCUA under the appropriations process, because the money that funds the NCUA comes solely from credit unions and their members, not the taxpayers in general.  
Posted September 07, 2017 by CUNA Advocacy
Kathleen Smith, Acting Assistant Secretary of the Office of Postsecondary Education, wrote to Director Cordray of the Consumer Financial Protection Bureau (CFPB) to terminate the Memoranda of Understanding (MOU) between the Department of Education and the CFPB regarding the sharing of information.
Posted September 06, 2017 by CUNA Advocacy
The House Financial Services Subcommittee on Financial Institutions and Consumer Credit will hold a hearing entitled, “Legislative Proposals for a More Efficient Federal Financial Regulatory Regime.”  Prior to the hearing, CUNA sent a letter to Chairman Luetkemeyer and Ranking Member Clay outlining CUNA's position on a number of the bills expected to be discussed during the hearing.
Posted September 05, 2017 by CUNA Advocacy

CUNA filed a comment letter with NCUA providing input on how the agency should amend is share insurance rule to provide for equity distributions. The proposed share insurance fund equity distribution rule would modify the rule for normal equity distributions and has a separate provision for special distributing funds from the Temporary Corporate Credit Union Stabilization Fund after it is merged into the National Credit Union Share Insurance Fund. 



Posted September 05, 2017 by CUNA Advocacy

CUNA supports the proposed benchmarks for single family purchases

Posted September 05, 2017 by CUNA Advocacy
A busy week is expected on Capitol Hill as lawmakers return from their states and districts to work on the first of many supplemental appropriations bills to provide disaster funds to cope with the disastrous situation from Hurricane Harvey.
Posted September 01, 2017 by CUNA Advocacy

CUNA filed a letter in support of proposed changes to NCUA’s corporate credit union regulation regarding provisions on retained earnings and Tier 1 capital. 

Posted September 01, 2017 by CUNA Advocacy
The US District Court of the Eastern District of Texas ruled against the Department of Labor’s Overtime Rule in Nevada v U.S. Department of Labor (DOL).
Posted September 01, 2017 by CUNA Advocacy
The Illinois Credit Union League successfully championed the enactment of an amendment to the state’s credit union act, HB 1792. The amendment includes parity provisions that would ensure state chartered credit unions remain on par with their federal counterparts.
Posted August 31, 2017 by CUNA Advocacy

“I do note that one trade organization, NAFCU, has asked now that we delay closing the fund at this time,” Metsger said. “That, of course, would delay until at least 2019 any potential distribution to credit unions as well as put a premium back on the table to address the declining equity ratio in the Share Insurance Fund."

Posted August 31, 2017 by CUNA Advocacy
CUNA filed a comment letter with the NCUA fully supporting NCUA’s proposal to close the Corporate Stabilization Fund, merge the fund assets in to the National Credit Union Share Insurance Fund (NCUSIF), and repay credit unions a portion of corporate stabilization premiums in 2018.
Posted August 30, 2017 by CUNA Advocacy
The Office of Management and Budget (OMB) approved the DOL’s proposal for pushing the Fiduciary Rule’s effective date by 18 months, from January 1, 2018 to July 1, 2019.
Posted August 30, 2017 by CUNA Advocacy
The CFPB’s much anticipated rule on payday and small dollar lending is expected out in the next few weeks. CUNA and the leagues have been highly active in seeking changes to the CFPB’s rule which was proposed last summer.
Posted August 29, 2017 by CUNA Advocacy
CUNA submitted comments to the Federal Communications Commission’s (FCC) Second Notice of Inquiry on Advanced Methods to Target and Eliminate Unlawful Robocalls.
Posted August 25, 2017 by CUNA Advocacy

CUNA is seeking four credit unions to participate in a discussion with the Small Business Administration (SBA) Office of Advocacy about the CFPB’s RFI concerning small business lending

Posted August 25, 2017 by CUNA Advocacy
CUNA President CEO Jim Nussle responded to a recent op ed from Consumer Financial Protection Bureau (CFPB) Director Richard Cordray in a LinkedIn post Friday. Cordray wrote in the New York Times defending the CFPB’s arbitration rule.
Posted August 24, 2017 by CUNA Advocacy
The CFPB issued a final rule that temporarily increases the threshold for collecting and reporting HELOC data under HMDA. Under the Regulation C rules that are scheduled to take effect in January 2018, credit unions and other financial institutions would have been required to report HELOCs if they made 100 such loans in each of the last two years.
Posted August 23, 2017 by CUNA Advocacy

The Consumer Financial Protection Bureau recently announced that the Credit Union Advisory Council (CUAC) will be holding a public meeting on September 7 at 3:30 PM in Washington, D.C.   

Posted August 23, 2017 by CUNA Advocacy
Yesterday, the FFIEC, comprised of the NCUA and fellow federal financial regulators, issued new HMDA resubmission guidelines, FFIEC HMDA Examiner Transaction Testing Guidelines.  As described in a CFPB blog post, in light of the new data fields that will be required beginning in 2018,

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