Removing Barriers Blog

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 January 19, 2018 by CUNA Advocacy

The House of Representatives passed H.R. 2954, the Home Mortgage Disclosure Adjustment Act by a vote of 243-184. 

Posted January 18, 2018 by CUNA Advocacy
Earlier this morning, the House Financial Services Committee completed a markup that began yesterday.  Prior to the start of the markup, CUNA sent a letter supporting four pieces of regulatory relief legislation – all four bills passed through Committee. 
Posted January 17, 2018 by CUNA Advocacy
The House of Representatives is scheduled to vote on H.R. 2954, the Home Mortgage Disclosure Adjustment Act this week.  Prior to the vote, CUNA sent a letter to Speaker Paul Ryan and Minority Leader Nancy Pelosi to reiterate support for the legislation. 
Posted January 17, 2018 by CUNA Advocacy
This week, CUNA filed a letter with the CFPB on an OMB request to conduct an online survey of consumers regarding ATM POS overdraft disclosure.
Posted January 16, 2018 by CUNA Advocacy
In response to the Department of Justice (DOJ) rescinding of an Obama-era policy that permitted legalized cannabis to expand in states across the country, Reps. Denny Heck (D-Wash.) and Ed Perlmutter (D-Colo.) circulated a Dear Colleague letter requesting that the Financial Crimes Enforcement Network (FinCEN) maintain its policy permitting financial institutions to engage with marijuana-related businesses.
Posted January 16, 2018 by CUNA Advocacy
This week, the House of Representatives will consider H.R. 2954, the Home Mortgage Disclosure Adjustment Act H.R. 3326, the World Bank Accountability Act of 2017  and H.R. 4712, the Born Alive Abortion Survivors Protection Act.
Posted January 16, 2018 by CUNA Advocacy
In the states, data breach legislation was front and center again last week. Only two states, Alabama and South Dakota, are without a data breach notification law.
Posted January 12, 2018 by CUNA Advocacy

NACHA has issued a Request for Comment regarding three proposed operating rule changes. These changes primarily relate to Same Day ACH; however, they carry implications for ACH processing at all institutions.

Rather than the usual call for comment letters, NACHA has posted an online survey in an effort gather specific feedback while also including freeform fields for general input.

Posted January 10, 2018 by CUNA Advocacy
The House Financial Services Committee held a hearing entitled, “Legislative Proposals for a More Efficient Federal Financial Regulatory Regime Part III.”  Prior to the hearing, CUNA sent a letter in support of two of the regulatory relief bills discussed.
Posted January 09, 2018 by CUNA Advocacy

CUNA and the state credit union leagues, representing all 50 states and the District of Columbia, wrote to Majority Leader McConnell and Minority Leader Schumer to encourage debate on the bipartisan S. 2155 – the Economic Growth, Regulatory Relief, and Consumer Protection Act.  

Posted January 09, 2018 by CUNA Advocacy
The Senate Banking, Housing, and Urban Affairs Committee held a hearing to discuss money laundering and other forms of illicit finance along with ways to reform and strengthen Bank Secrecy Act (BSA) enforcement.  Prior to hearing, CUNA sent a letter to Chairman Crapo and Ranking Member Brown that was entered into the record by the Chairman.
Posted January 02, 2018 by CUNA Advocacy

While Congress and the administration get back to work, I wanted to take some time to outline the credit union advocacy agenda for 2018. This isn't an agenda that has been cooked up here in Washington. It's an agenda that has been developed with the input, feedback and guidance of credit union leaders from across the country.

The foundation for our 2018 agenda is a new, bold advocacy goal: to revolutionize the operating environment for credit unions.

We seek to achieve this goal by:

Reducing regulatory burden so that credit union members have access to more efficient and affordable financial services from credit unions.

Expanding and protecting credit union powers so consumers and small businesses can more easily access the credit union services they need and demand.

Enhancing payment security to reduce the impact that merchant data breaches have on credit unions and their members.

Preserving the credit union tax status so that credit union members continue to enjoy not-for-profit cooperative financial services.

Posted January 08, 2018 by CUNA Advocacy
This week, both the House and Senate are in session but with relatively light legislative schedules.  Both bodies will resume negotiations on the omnibus appropriations bill.  Current government funding expires on January 19th so the clock is ticking.  In addition, the
Posted January 05, 2018 by CUNA Advocacy
Chairman Hensarling announced that the Committee’s staff director, Kristen Sutton Mork, will be leaving the Committee to take over as Chief of Staff at the Consumer Financial Protection Bureau.
Posted January 05, 2018 by CUNA Advocacy
CUNA, along with trade associations from a broad spectrum of stakeholders, sent a letter to Chairman Walden and Chairman Latta in support of federal legislation to protect personal information and, in the in the event of a data breach that could result in identity theft or other financial harm, ensure consumers are notified in a timely manner. 
Posted January 05, 2018 by CUNA Advocacy

CUNA joined other financial trade associations in sending a letter to Representatives Pearce and Luetkemeyer in support of their draft legislation the Counter Terrorism and Illicit Finance Act. 

Posted January 04, 2018 by CUNA Advocacy
The Department of Justice (DOJ) is rescinding the Obama era policy that permitted legalized cannabis to expand in states across the country.
Posted January 02, 2018 by CUNA Advocacy

The National Credit Union Administration (NCUA) is hosting a free (registration required) webinar at 2:00 PM Eastern on Wednesday, January 10, entitled “Welcome to CURE.” The webinar will feature Office of Credit Union Resources and Expansion (CURE) Director Martha Ninichuk and Deputy Director Jean Marie Komyathy discussing the agency’s realignment of offices and responsibilities.

Posted January 02, 2018 by CUNA Advocacy
2017 was a notable year in Washington and a fantastic year for credit union advocacy. Working together, CUNA, Leagues and credit unions accomplished so much in all areas of government.
Posted December 28, 2017 by CUNA Advocacy

The Department of Justice (DOJ) announced that it has rescinded two Advanced Notices of Proposed Rulemaking (ANPRM) related to website accessibility under Title II of the Americans with Disabilities Act (ADA) applicable to state and local governments and under Title III applicable to private businesses open to the public. 

Posted December 27, 2017 by CUNA Advocacy

CUNA submitted a letter to NCUA in response to the proposed rule on capital planning and supervisory stress testing. CUNA maintained that credit unions should remain exempt from stress testing requirements, as Congress intended. Further, any stress testing supervisory requirements should continue to provide exemptions for small institutions, as measured on a scale other than fixed asset thresholds.