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The Senate Commerce Committee held a hearing entitled “Policy Principles for a Federal Data Privacy Framework in the United States.”
The Senate Banking Committee voted Tuesday to advance the nominations of Rodney Hood and Todd Harper to serve on the NCUA board, and for Mark Calabria to serve as director of the Federal Housing Finance Agency (FHFA).
The FTC and CFPB reauthorized a memorandum of understanding between the agencies.
The Credit Union Advisory Council (CUAC) will have a meeting on March 14, 2019, at the CFPB’s headquarters in Washington, D.C.
CUNA wrote to the Committee Chairwoman and Ranking Member prior to the hearing in the House Financial Services Committee entitled, “Who’s Keeping Score? Holding Credit Bureaus Accountable and Repairing a Broken System,”
Credit reporting agencies (CRAs) play a critical role in the financial lives of Americans as the credit scores and reports they generate are influential metrics for many lending decisions. CUNA raised several concerns among their members in regards to CRAs
CUNA wrote to Chairman Quigley and Ranking Member Graves prior to today’s House Appropriations Subcommittee on Financial Services and General Government hearing entitled, “Leveraging Private Capital for Underserved Communities and Individuals: A Look into Community Development Financial Institutions (CDFIs).”
The Senate Banking Committee advanced nominees for the NCUA Board and the Federal Housing Finance Agency out of the Committee.
Senate Banking Committee is expected to vote on NCUA, FHFA nominations.
The House will consider H.R. 8, the Bipartisan Background Checks Act of 2019; H.R. 1112, the Enhanced Background Checks Act of 2019; and H.J. Res. 46, relating to a national emergency declared by the President on February 15, 2019. The Senate is expected to vote on S. 311, the Born-Alive Abortion Survivors Protection Act. In addition, the Senate may consider the nomination of Eric D. Miller, of Washington, to be United States Circuit Judge for the Ninth Circuit.
CUNA representatives will meet with staff from FCC Chairman Pai’s office to discuss the need to clarify the definition of an autodialer and modernize the TCPA.
CUNA and WOCCU jointly urged the Internal Revenue Service (IRS) to reduce regulatory burden for credit unions in connection with the Foreign Account Tax Compliance Act (FATCA).
CUNA wrote to newly confirmed Attorney General William Barr Tuesday to call attention to the legal threats facing credit unions due to uncertainty with how the Americans With Disabilities Act (ADA) applies to websites.
Rachel Pross, Chief Risk Officer at MAPS CU, Salem, Ore., testified before the House Financial Services Subcommittee on Consumer Protection and Financial Institutions for a hearing entitled "Challenges and Solutions: Access to Banking Services for Cannabis-Related Businesses."
This week, the House of Representatives and the Senate are considering a budget deal to avoid another government shutdown, as well as fund the federal government through the end of fiscal year 2019 (September 30, 2018).
The U.S. Senate voted 54-45 to confirm William P. Barr to be the 85th Attorney General of the United States.
On Thursday, February 14th, the Senate Committee on Banking, Housing and Urban Development conducted a hearing on the nominations of: Mr. Bimal Patel, of Georgia, to be an Assistant Secretary of the Treasury; Mr. Todd M. Harper, of Virginia, to be a Member of the National Credit Union Administration Board; The Honorable Rodney Hood, of North Carolina, to be a Member of the National Credit Union Administration Board; and Dr. Mark Anthony Calabria, of Virginia, to be Director of the Federal Housing Finance Agency.
The NCUA Board issued proposals on flood insurance and supervisory audit committees.
The CFPB recently published its Semi-Annual Report to Congress for the period beginning April 1, 2018 and ending September 30, 2018. The report was issued by Director Kathy Kraninger but covers actions taken during Acting Director Mick Mulvaney tenure as the head of the Bureau.
CUNA submitted a letter Monday in response to the Consumer Financial Protection Bureau’s (CFPB) proposal to amend its No-Action Letter (NAL) Policy and create a “Product Sandbox” to facilitate innovation, urging the Bureau avoid creating an uneven playing field.
The Committee on Banking, Housing, and Urban Affairs will meet in open session to conduct a hearing on several nominations including Mr. Todd M. Harper, of Virginia, to be a Member of the National Credit Union Administration Board; The Honorable Rodney Hood, of North Carolina, to be a Member of the National Credit Union Administration Board; and Dr. Mark Anthony Calabria, of Virginia, to be Director of the Federal Housing Finance Agency.
CUNA submitted a letter in response to a joint proposal issued by the Federal Reserve and Consumer Financial Protection Bureau that would make amendments to Regulation CC (which implements the Expedited Funds Availability (EFA) Act) Friday.
Both the House and Senate are in session this week. President Trump and Congressional leaders are continuing negotiations on an agreement to fund the federal government through September 30th, the end of fiscal year 2019. The current Continuing Resolution funds the federal government through February 15th.
Rachel Pross, Chief Risk Officer at MAPS Credit Union in Salem, Oregon will testify on behalf of Credit Union National Association (CUNA) at a hearing on cannabis banking in the House Financial Services Committee (HFSC), Subcommittee on Consumer Protection and Financial Institutions.
CUNA sent a letter to NCUA Chairman McWatters regarding the agency’s efforts to prepare credit unions for compliance with the Financial Accounting Standards Board’s (FASB) updated accounting standard on credit losses (referred to as CECL (current expected credit losses)).
On February 6th, the CFPB issued two proposed rules to amend provisions of its 2017 final rule on “Payday, Vehicle Title, and Certain High-Cost Installment Loans” (Payday Rule).
Credit Union National Association (CUNA) calls on policymakers to create a national data security framework.
President Donald Trump nominated Todd Harper to serve as an NCUA board member Friday, February 1st.
On January 31, 2019, the NCUA Board voted unanimously to approve final rules permitting federally insured credit unions, to accept private flood insurance policies under certain conditions.
Sen. Mike Crapo (R-ID), chair of the Senate Banking Committee, released an outline of his proposal for housing finance reform legislation on Friday.
This week the CFPB issued policy guidance describing modifications that the Bureau intends to apply to the loan-level data that financial institutions report under the Home Mortgage Disclosure Act (HMDA) and Regulation C before the data is disclosed to the public.
CUNA wrote in support of a bill Thursday that would update thresholds for certain reporting thresholds contained in the Bank Secrecy Act (BSA). The bill, H.R. 388, was introduced by Rep. Barry Loudermilk (R-Ga.), and would raise reporting thresholds for institutions filing Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs).
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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.
© 2019 Credit Union National Association
ADA Compliance Notice & Legal
© 2019 Credit Union National Association
ADA Compliance Notice & Legal