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 October 29, 2015 by CUNA Advocacy
The Michigan Credit Union League (MCUL) successfully introduced updates to Michigan’s credit union act this week. The state’s credit union act has not been updated in more than 12 years and the changes would ease the regulatory burden of Michigan credit unions and provide flexibility for credit unions to better serve members.
Posted October 28, 2015 by Chandler Schuette
President/CEO of affiliate Timberland FCU Carrie Wood testified before the U.S. Senate Banking subcommittee on financial institutions and consumer protection, during a hearing on the effects of regulatory burdens on rural financial institutions.
Posted October 28, 2015 by CUNA Advocacy
This week, CUNA attorneys joined nearly 150 lawyers in Orlando, Florida to discuss issues facing the credit union industry. Regulators from both the CFPB and the NCUA also participated in the event.
Posted October 27, 2015 by CUNA Advocacy
A two-year budget deal has been reached between congressional leaders in both parties and the White House, and is scheduled for voting tomorrow. It has no substantial effect on credit unions or financial services.
Posted October 26, 2015 by Chandler Schuette
Along with several other trades, we submitted a letter to Senate leaders Mitch McConnell and Harry Reid, urging them to support S. 754 (CISA) and expressing concern with some of its recent amendments.
Posted October 26, 2015 by CUNA Advocacy
CUNA, along with several other financial services trades associations, submitted a statement for last week’s House Small Business Committee Hearing on EMV technology.
Posted October 23, 2015 by CUNA Advocacy
We are continuing to analyze the 700+ page final rule issued by the CFPB implementing changes to the Home Mortgage Disclosure Act (HDMA).
Posted October 21, 2015 by Chandler Schuette
CUNA, along with several credit union representatives, attended an open house event in Washington, DC, hosted by the Federal Bureau of Investigation (FBI), U.S. Secret Service (USSS), and U.S. Department of the Treasury.
Posted October 20, 2015 by CUNA Advocacy
Today we sent a letter to Senate leaders to both urge passage of the bipartisan CISA bill, and remind them about the critical need for data security.
Posted October 20, 2015 by CUNA Advocacy
The Federal Housing administration (FHA) published a partial withdrawal of the proposed rule that established a maximum timeline to file a claim with FHA for insurance benefits on insured mortgages.
Posted October 19, 2015 by CUNA Advocacy
The CFPB recently released proposals for a rulemaking on forced arbitration, and will convene a Small Business Review Panel next week.
Posted October 18, 2015 by CUNA Advocacy
On Wednesday, the House Small Business Committee will hold a hearing on the effect of EMV implementation on small businesses.  This is the second in a series of hearings the Committee has held on this topic.
Posted October 18, 2015 by CUNA Advocacy
On Wednesday, the House Financial Services Committee Subcommittee on Financial Institutions and Consumer Credit will hold a legislative hearing on several bills aimed at removing barriers for credit unions and small banks to serve their members and customers.
Posted October 18, 2015 by CUNA Advocacy
While Maine’s 2016 legislative session officially kicks off January 6, the Maine Credit Union League (MCUL) has already taken steps to benefit credit unions by seeking solutions outside of the legislative process and proactively meeting with House and Senate leadership. 
Posted October 16, 2015 by Chandler Schuette
This week, members of CUNA’s Consumer Protection and Examination/Supervision Subcommittees met with top federal regulators in Washington DC.
Posted October 15, 2015 by CUNA Advocacy
Last week CUNA and other financial services trades wrote a letter to Senate leadership, urging passage of S.754, the Cybersecurity Information Sharing Act (CISA).
Posted October 15, 2015 by CUNA Advocacy

At its October 2015 meeting, the NCUA Board issued a Final Rule on Risk-Based Capital Measures, delegated authority to the Office of Consumer Protection for approval of Community Charter Requests, issued a Proposed Rule making technical corrections for permissible Investment Activities, and received a quarterly report on the (National Credit Union Share Insurance Fund (NCUSIF).  

Posted October 15, 2015 by CUNA Advocacy
Earlier today, the CFPB finalized its Home Mortgage Disclosure Act (HMDA) rule which was first proposed in July of 2014.
Posted October 15, 2015 by CUNA Advocacy
Today the NCUA Board voted 2 to 1 to finalize its second Risk-Based Capital (RBC2) proposal.
Posted October 13, 2015 by Chandler Schuette
Last week, the CFPB held its second annual meeting of the Credit Union Advisory Council, or CUAC.
Posted October 13, 2015 by CUNA Advocacy
The U.S. Chamber Institute for Legal Reform and several other representatives are participating in a briefing on the Telephone Consumer Protection Act (TCPA) in the U.S. Senate next week.
Posted October 12, 2015 by Chandler Schuette
Approximately twenty months after it was first proposed, NCUA’s new risk-based capital regime is expected to be finalized this Thursday.  While the details of the final proposal will not be known until the NCUA Board meets, what is known is that since it was first proposed, the RBC and RBC2 have undergone significant scrutiny, been the subject of intense industry and NCUA Board debate, attracted a record number of credit union comments, and improved significantly.  As we prepare to receive the final rule, let’s take a look at the progress we’ve made so far.
Posted October 09, 2015 by CUNA Advocacy
Today we sent a comment letter in response to NACHA – The Electronic Payments Association requests for comments on proposed changes that would require Originating Depository Financial Institutions (ODFIs) to register their Third-Party Senders with NACHA.
Posted October 08, 2015 by CUNA Advocacy
Last night, the U.S. House passed a bill enacting a hold harmless period for the TRID rule through Feb. 1, 2016 by vote of 303-121.
Posted October 07, 2015 by CUNA Advocacy
A credit union representative participated in a CFPB field hearing on mandatory arbitration clauses today in Denver, CO.
Posted October 07, 2015 by mcarew
This week we sent a letter to NACHA to reiterate some credit union concerns about recent changes surrounding Same-Day ACH processing. We previously filed comments with both NACHA and the Board of Governors of the Federal Reserve about Same-Day ACH.
Posted October 06, 2015 by Chandler Schuette

A bill providing a safe harbor from enforcement and litigation of the recently implemented TRID rule is now scheduled for a full floor vote in the US House on Wednesday.

Posted October 05, 2015 by CUNA Advocacy
Today we sent a letter to CFPB Director Richard Cordray, thanking him for meeting with CUNA staff and credit union Chief Executive Officers to discuss consumer financial regulatory issues facing the credit union industry.
Posted October 05, 2015 by Chandler Schuette
The October edition of Credit Union Magazine features an article exploring the collaborative efforts by CUNA and the Leagues to strengthen and protect credit unions at the state level.
Posted October 05, 2015 by CUNA Advocacy
The Federal Reserve has approved enhancements to its Same-Day automated clearing house (ACH) service.
Posted October 05, 2015 by CUNA Advocacy
The Hill newspaper recently published an op-ed by Jim Nussle,  president/CEO of CUNA.
Posted October 02, 2015 by Chandler Schuette
In a Letter to Credit Unions released today (10/2/2015), NCUA declared that federal credit unions will no longer have to comply with a 5 percent limit on fixed assets, effective October 2.
Posted October 01, 2015 by CUNA Advocacy
Yesterday, the House Committee on Ways and Means Subcommittee on Oversight held a hearing on the Department of Labor’s (DOL) proposed fiduciary rule.