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 December 14, 2017 by CUNA Advocacy
This morning CUNA was in attendance at the Treasury’s Financial Literacy and Education Commission (the Commission) public meeting. The Secretary of the Treasury, Steven Mnuchin, and the newly appointed Interim Director of the CFPB, Mick Mulvaney, were both on
Posted December 14, 2017 by CUNA Advocacy

This week credit unions saw wins on the House floor as well as in the House Financial Services Committee. On the floor, the House passed three pieces of CUNA-backed legislation that if enacted will reduce the regulatory burdens faced by America’s credit unions.

Posted December 14, 2017 by CUNA Advocacy

CUNA staff attended the NCUA's final board meeting for 2017 at agency headquarters in Alexandria, Virginia. As anticipated, the Board unanimously approved to finalize the proposed rule, without modification, on emergency mergers—amending the definition of “in danger of insolvency” and creating a fourth category of existing net worth categories—giving the agency earlier authority to preserve asset values for an undercapitalized, failing credit union. 


Posted December 13, 2017 by CUNA Advocacy

The House Financial Services Committee passed three CUNA-backed regulatory relief bills.  Today was the second and final day of the 15-bill markup.  Prior to the start of the markup, CUNA sent a letter supporting three bills and reiterated the importance of regulatory relief for credit unions and their 110 million members.

Posted December 13, 2017 by CUNA Advocacy

The DoD has released long-awaited guidance on the Military Lending Act that will be published in tomorrow’s Federal Register. The guidance amends three comments included in last year’s DoD guidance and adds one additional comment.

Posted December 13, 2017 by CUNA Advocacy

Credit Union National Association, on behalf of America’s credit unions and their 110 million members, filed an amicus brief in the case, English v. Trump.  We filed this brief because credit unions have a strong interest in the operation and the leadership of the Consumer Financial Protection Bureau. And, credit unions’ structure, mission and history gives us a unique perspective on these matters.  

Posted December 12, 2017 by CUNA Advocacy
CUNA filed an amicus brief supporting the president’s authority to appoint an interim director under the Vacancies Reform Act. Leandra English a CFPB employee, who was appointed as Deputy Director by former Director Richard Cordray on his last day in the position, is challenging this presidential appointment authority and instead is seeking to create precedent enabling an outgoing CFPB director to select anyone they choose for this position in the U.S. District Court for the District of Columbia case English v. Trump. 
Posted December 12, 2017 by CUNA Advocacy
CUNA CEO Jim Nussle along with CUNA staff and staff from the Independent Community Bankers of American and the National Association of Federal Credit Unions met with Federal Reserve Bank of Kansas City President and CEO Esther George and key staff from the Federal Reserve banks to discuss the Federal’s Reserve’s roll in the payments system.
Posted December 11, 2017 by CUNA Advocacy
Last week, Congress passed and the President signed into law H.J. Res. 123, a continuing resolution to fund government operations through December 22, 2017.  This puts additional pressure on Congress to pass an omnibus spending bill for the rest of fiscal year 2018 at the same time as it is trying to enact the most comprehensive tax overhaul in thirty years. 
Posted December 08, 2017 by CUNA Advocacy
This week the Government Accountability Office issued a legal opinion that the CFPB’s Indirect Lending Guidance is a is a rule for purposes of the Congressional Review Act (CRA).
Posted December 07, 2017 by CUNA Advocacy

The Federal Housing Administration (FHA) announced it will no longer insure new mortgages on properties that include Property Assessed Clean Energy (PACE) assessments. 

Posted December 07, 2017 by CUNA Advocacy
On Thursday, December 14, the National Credit Union Administration (NCUA) Board will meet in open session to finalize their proposed rules on mergers, both voluntary and involuntary emergency, and agency reorganization.
Posted December 07, 2017 by CUNA Advocacy

CUNA sent a letter to Chairman Hensarling and Ranking Member Waters to express support for three regulatory relief measures that will be discussed before the Committee today. 

Posted December 06, 2017 by CUNA Advocacy

More than a dozen bipartisan Members of Congress sent a letter to the Federal Communications Commission (FCC) Chairman Pai in support of CUNA’s Telephone Consumer Protection Petition that was filed this fall. 

Posted December 06, 2017 by CUNA Advocacy
Last week CUNA sent Interim CFPB Director Mick Mulvaney a letter outlining changes credit unions would like to see at the CFPB moving forward. As the CFPB leadership litigation disputes continue, CUNA believes that it is important for credit unions to have certainty in the financial services marketplace.
Posted April 14, 2017 by CUNA Advocacy
This morning, CUNA and the Leagues sent a letter to Chairman Crapo (R ID) and Ranking Member Brown (D OH) of the Senate Committee on Banking, Housing and Urban Affairs.  The letter is in response to the Committee’s hearing on fostering economic growth, held at
Posted December 06, 2017 by CUNA Advocacy
The Senate Banking Committee voted 16 7 to pass the CUNA backed, bipartisan S. 2155 Economic Growth, Regulatory Relief and Consumer Protection Act.  CUNA strongly supports the bill, which contains several regulatory relief provisions for credit unions.
Posted December 06, 2017 by CUNA Advocacy
December 1, 2017 - the Senate passed the “Tax Cuts and Jobs Act”, which would cut taxes by roughly $1.5 trillion over ten years and would make significant changes to and simplify our nation’s tax laws.
Posted December 06, 2017 by dyi

Beginning next year, lenders will need to report a number of additional data points to the CFPB under HMDA. Some of that data will then be made available to the public by the CFPB and other regulators.

Posted December 04, 2017 by CUNA Advocacy

The Wisconsin Credit Union League successfully advocated for the passage of bills permitting prize-linked savings raffles and requiring financial literacy standards in schools. The bills passed both chambers unanimously and were signed by Governor Walker.

Posted December 02, 2017 by CUNA Advocacy
Early Saturday morning, December 2, 2017, the Senate passed the “Tax Cuts and Jobs Act”, which would cut taxes by roughly $1.5 trillion over ten years and would make significant changes to and simplify our nation’s tax laws.
Posted December 03, 2017 by CUNA Advocacy
This week, the House is expected to vote on H.R. 477, the Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017; H.R. 3971, the Community Institution Mortgage Relief Act of 2017 and H.R. 38, the Concealed Carry Reciprocity Act of 2017. 
Posted December 01, 2017 by CUNA Advocacy
CUNA’s CEO Jim Nussle along with the President/CEO of the Consumer Bankers Association, Richard Hunt and Camden Fine the President/CEO of the Independent Community Bankers of America published an opinion piece in the Morning Consult on why a Commission is the best option to run the Consumer Financial Protection Bureau (CFPB) in a post-Cordray world.


Posted December 01, 2017 by CUNA Advocacy
CUNA submitted a comment letter in response to NCUA’s proposed Accuracy in Advertising rule.


Posted December 01, 2017 by CUNA Advocacy

CUNA wrote a letter to support ongoing supervisory modernization and regulatory relief under NCUA’s Strategic Plan 2018-2022.