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 November 28, 2017 by CUNA Advocacy

CUNA sent a letter to Representative Bill Posey in support of his recently introduced legislation to repeal the NCUA’s risk-based capital rule – The Common Sense Credit Union Capital Relief Act of 2017.  

Posted November 28, 2017 by CUNA Advocacy

This afternoon, a U.S. District Court Judge threw out a request for a restraining order that would have blocked OMB Director Mulvaney from assuming the leadership position at the CFPB. 

Posted November 27, 2017 by CUNA Advocacy
Acting Consumer Financial Protection Bureau (CFPB) Director Mick Mulvaney announced a freeze of rulemaking actions at the bureau Monday, several hours after CUNA sent a letter requesting a freeze on new rules and requirements.
Posted November 27, 2017 by CUNA Advocacy

On the Friday after Thanksgiving, the CFPB Director Cordray officially resigned and subsequently named Leandra English as deputy director before resigning, indicating English would become acting director upon his resignation. Meanwhile, President Donald Trump named Office of Management and Budget Director Mick Mulvaney as interim director of the bureau. 

Posted November 27, 2017 by CUNA Advocacy

The Department of Labor officially announced that the Fiduciary rule will be delayed for 18 months. This means the applicability date will now be July 1, 2019.

Posted November 22, 2017 by CUNA Advocacy

In support of CUNA’s Petition with the Federal Communications Commission (FCC) seeking declaratory relief from credit unions subject to the Telephone Consumer Protection Act (TCPA), credit unions, other trade associations, and service organizations have filed comments corroborating the need for the common-sense Telephone Consumer Protection Act (“TCPA”) reforms set forth in the Petition. CUNA highlighted this support in Reply Comments filed on November 21.


Posted November 21, 2017 by CUNA Advocacy

This afternoon, the Senate Appropriations Committee released its draft spending package to fund agencies and government functions under the jurisdiction of the Senate Appropriations Subcommittee on Financial Services and General Government through the end of Fiscal Year 2018.  This bill includes many significant wins for credit unions! 

Posted November 20, 2017 by CUNA Advocacy

CUNA submitted a comment letter to NCUA regarding its comprehensive Regulatory Reform Agenda, issued by a Task Force charged with culling all relevant regulations, with recommendations to streamline and eliminate ineffective, outdated, and excessively burdensome regulations.  The agenda parses regulatory recommendations into multi-year efforts, and temporarily supersedes the agency’s standard one-third annual regulatory review, which is slated to re-commence in 2020.

Posted November 17, 2017 by CUNA Advocacy

 CUNA sent a letter to Chairman Orrin Hatch and Ranking Member Ron Wyden of the Senate Finance Committee in response to the Chairman’s mark of the Tax Cuts and Jobs Act.  In the letter, CUNA highlights the importance of credit unions and that they are American’s best option for financial services. 

Posted November 16, 2017 by CUNA Advocacy

The House passed legislation to reauthorize the National Flood Insurance Program, including changes that could limit future coverage and discounts for high-risk properties, modify premiums and surcharges paid by policyholders and expand opportunities for private insurers to sell policies. 

Posted November 16, 2017 by CUNA Advocacy

The NCUA held their November 2017 Open Board meeting.  The Board approved a final corporate credit union rule, the 2018-2019 operating fund budget, and the overhead transfer rate methodology.  The Board also received the final briefing on the Corporate Stabilization Fund before it was merged into the National Credit Union Share Insurance Fund. 

Posted November 15, 2017 by CUNA Advocacy

Consumer Financial Protection Bureau Director Richard Cordray announced to Bureau staff today that he will step down from the agency by the end of the month after serving since 2013.  

Posted November 15, 2017 by CUNA Advocacy

In a letter sent last week to the CFPB, CUNA supports a proposed change to the Reg Z mortgage servicing rules (effective April 2018). 

Posted November 15, 2017 by CUNA Advocacy

The House Judiciary Committee held an oversight hearing concerning the Department of Justice.  Prior to the hearing, CUNA sent a letter to Chairman Goodlatte and Ranking Member Conyers in order to bring attention to the fact that frivolous class action lawsuits brought under the American with Disabilities Act have become increasingly problematic for credit unions. 

Posted November 15, 2017 by CUNA Advocacy

The House Financial Services Committee started a multi-day markup of a number of bills.  Prior to the start of the markup, CUNA sent a letter supporting three of the bills

Posted November 14, 2017 by CUNA Advocacy

The CUNA Advocacy and Economics teams have broken down both the House and Senate tax reform bills into short white papers. 

Posted November 13, 2017 by CUNA Advocacy

A bipartisan group of Senate Banking Committee members have released a bill that could offer credit union regulatory relief. 

Posted November 13, 2017 by CUNA Advocacy

Ahead of the 2018 implementation of legalized adult-use cannabis in CA, State Treasurer John Chiang released a report from the Cannabis Banking Working Group, which the California Credit Union League was a member of. The findings in the report were the culmination of 6 hearings of the Treasurer’s 18-person Working Group, whose members included representatives from local and state government, the cannabis industry, financial institutions and law enforcement.

Posted November 13, 2017 by CUNA Advocacy

With CUNA’s Member Activation Program (MAP), CUNA, the Cornerstone Credit Union League (CCUL) and credit unions successfully supported an amendment to the Texas constitution that will lead to Texas to becoming the 22nd state to permit prize-linked savings programs.

Posted November 10, 2017 by CUNA Advocacy

The House Ways and Means Committee Chairman Kevin Brady (R-TX) unveiled a 429-page tax reform bill.  H.R. 1, the “Tax Cuts and Jobs Act,” would cut taxes by roughly $1.5 trillion over ten years and would make significant changes to and simplify our nation’s tax laws.  On November 9, 2017, after a four-day markup, the Committee passed the bill and it is expected to be considered by the full House of Representatives the week of November 13, 2017.

Posted November 10, 2017 by CUNA Advocacy

CUNA sent a letter following a meeting with Assistant Attorney General John Gore, outlining steps the DoJ should take to limit litigation threats to credit unions for website accessibility under the cover of the Americans with Disabilities Act (ADA). 

Posted November 15, 2017 by CUNA Advocacy

CUNA responded to the CFPB’s interim final rule clarifying that mortgage servicing compliance with the Real Estate Settlement Procedures Act (RESPA) for a borrower who has invoked cease communication rights under the Fair Debt Collection Practices Act (FDCPA) is satisfied when notice has been provided within 10 days following the 180th day after initial written notice. 

Posted November 09, 2017 by CUNA Advocacy

The National Credit Union Administration (NCUA) published the Agenda for its November 2017 Board Meeting, which will be held at NCUA headquarters in Alexandria, Virginia at 10:00 a.m. on Thursday, November 16.  

Posted November 09, 2017 by ManojBhoi

The Senate Judiciary Committee held a hearing entitled, “The Impact of Lawsuit Abuse on American Small Businesses and Job Creators.” CUNA sent a letter highlighting our concern about a recent uptick in litigation threats against credit unions brought under the cover of the Americans with Disability Act (ADA).  

Posted November 08, 2017 by CUNA Advocacy

The Department of Labor has officially indicated that the Department of Labor Fiduciary rule will be delayed for 18-months. This means the applicability date will now be July 2019. 

Posted November 06, 2017 by CUNA Advocacy

CUNA filed a letter with the CFPB in response to its release of prototypes of the overdraft disclosure form, along with its most recent report on overdraft practices. While we noted a few substantive concerns with the prototypes themselves, our bigger issue is with the data the CFPB continues to rely on as it pursues potential changes in the area of overdraft programs. 

Posted November 06, 2017 by CUNA Advocacy

What a week we had last week.  Senate Banking Committee Ranking Member Sherrod Brown (D-OH) “walked away” from negotiations with Chairman Mike Crapo (R-ID) on a package of regulatory relief for smaller financial institutions, including credit unions.  While disappointing, we are encouraging all parties to return to the negotiating table and craft a package that will remove unnecessary and unneeded regulatory burdens on credit unions.  

Posted November 03, 2017 by CUNA Advocacy

CUNA, the Cornerstone Credit Union League and credit unions are using CUNA’s Member Activation Program (MAP) to build support for two credit-union supported amendments to the Texas constitution that are on the ballot Tuesday. The measures would modernize home equity lending laws and allow for prize-linked savings accounts in Texas.

Posted November 02, 2017 by CUNA Advocacy

Earlier this week, The Hill newspaper has once again named CUNA’s President/CEO, Jim Nussle, to its annual list of Washington’s top lobbyists!  

Posted November 02, 2017 by vgawali

Yesterday, two House subcommittees held hearings of a similar nature that unfortunately has become much too common – data security!  

Posted November 02, 2017 by ManojBhoi
The need for the FCC to exempt credit unions from the onerous TCPA regulations was showcased in The Hill newspaper this morning.  Katie McAuliffe, the Federal Affairs Manager at Americans for Tax Reform published an opinion piece where she highlighted the need to modernize telemarketing laws – especially for credit unions. 
Posted November 02, 2017 by CUNA Advocacy
The long anticipated tax reform legislation was released by the House Ways and Means Committee earlier today.  The CUNA Advocacy Team, including President/CEO Jim Nussle, is closely analyzing the text of the bill for any mention of credit unions or any provisions that have the potential to impact credit union operations. 
Posted November 02, 2017 by ManojBhoi

It’s official – the resolution to repeal the Consumer Financial Protection Bureau’s Arbitration rule has been signed into law by the President. 

Posted November 02, 2017 by CUNA Advocacy

CUNA joined a number of financial trade associations in sending a letter in support of strong data security legislation to Chairman Blaine Luetkemeyer and Ranking Member Lacy Clay of the House Financial Services Subcommittee on Financial Institutions and Consumer Credit. 

Posted April 24, 2017 by CUNA Advocacy

Check the Calendar… It’s Not Groundhog Day… Stop me if you’ve heard this before:  The House of Representatives is expected to vote this week on legislation to repeal and replace Obamacare.  You may recall the House’s failed effort to pass a new healthcare law last month, but they’re back at it again this week after weeks of negotiations between leaders in the House, Senate and the White House.  Here is why it is important to us:  time on the House floor is valuable, and unexpected changes to the calendar tend to have a butterfly effect on other priorities.  If consideration of this legislation takes much time it may displace or delay other matters, including financial regulatory reform legislation. 

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 government shutdown.

Posted April 25, 2017 by CUNA Advocacy

Tomorrow, the House Financial Services Committee will hold its hearing on the CHOICE 2.0 Act.  As mentioned last week, CUNA has been busy working its way through the nearly 600 pages of legislation since it was released on Wednesday.  This afternoon, CUNA sent a letterto Chairman Jeb Hensarling and Ranking Member Maxine Waters outlining CUNA’s position on CHOICE 2.0 in its current form

Posted April 25, 2017 by CUNA Advocacy

This week, CUNA and the World Council of Credit Unions (WOCCU) wrote a joint letter to Congressman Mark Meadows (R-NC), Chairman of the House Oversight and Government Reform Subcommittee on Government Operations, and Senator Rand Paul, in support of their legislation (S. 869 and H.R. 2054) to repeal the Foreign Account Tax Compliance Act (FATCA).  The House Oversight and Government Reform Subcommittee on Government Operations will hold a hearing tomorrow entitled, "Reviewing the Unintended Consequences of the Foreign Account Tax Compliance Act."  This joint CUNA/WOCCU letter will be included in the official hearing record.  Senator Rand Paul is scheduled to testify at the hearing.

Posted April 26, 2017 by ManojBhoi

In addition to a string of recent enforcement actions, the CFPB today announced that its recent supervisory work has found that some student loan and mortgage servicers are violating consumer financial laws.

Posted April 27, 2017 by CUNA Advocacy

CUNA joined a number of trade associations and sent two letters in support of legislation introduced in the House and Senate that would require Property Assessed Clean Energy (PACE) lenders to make important consumer disclosures to potential borrowers about the impact these loans could have on the marketability of their homes. 

Posted April 27, 2017 by CUNA Advocacy

Yesterday, the House Financial Services Committee held a hearing to discuss the CHOICE 2.0 Act. Prior to the hearing, CUNA sent a letter to Chairman Hensarling and Ranking Members Waters outlining the position of America’s credit unions on this legislation.

Posted April 27, 2017 by ManojBhoi

In honor of National Financial Literacy Month, CUNA and the National Credit Union Foundation (the Foundation) sent a letter to CFPB Director Cordray encouraging the CFPB to work with credit unions to empower consumers with financial knowledge.  

Posted April 27, 2017 by ManojBhoi

The CFPB has scheduled a public field hearing in Los Angeles, CA to discuss small business lending.  The hearing will include remarks from Director Cordray, a panel discussion with consumer advocates and industry representatives, and will end with testimony from members of the public. 

Posted April 28, 2017 by CUNA Advocacy

Prior to the House Financial Services Committee hearing on the CHOICE 2.0 Act, CUNA joined a number of other financial trade associations in the Electronic Payments Coalition (EPC) in sending a letter supporting the repeal of the Durbin Amendment to Chairman Hensarling.   

Posted November 01, 2017 by ManojBhoi

The Consumer Financial Protection Bureau announced the launch of a new mortgage performance trends tool that will track delinquency rates throughout the nation.

Posted November 01, 2017 by vgawali

Chairman Jeb Hensarling announced that he will not be seeking reelection in 2018.