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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.
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.
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.
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.
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.
The Federal Housing Administration (FHA) announced it will no longer insure new mortgages on properties that include Property Assessed Clean Energy (PACE) assessments.
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.
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.
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.
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.
CUNA wrote a letter to support ongoing supervisory modernization and regulatory relief under NCUA’s Strategic Plan 2018-2022.
Champion for the Credit Union Movement
Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.
© 2017 Credit Union National Association
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© 2017 Credit Union National Association |
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