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 March 30, 2016 by CUNA Advocacy
We are glad that GAO is highlighting the excessive complexity and burden of the US regulatory structure, but we are concerned some of its proposals will create more problems for credit unions.
Posted March 29, 2016 by CUNA Advocacy
The new legislation addresses Federal Home Loan Bank participation and merger issues.
Posted March 29, 2016 by CUNA Advocacy
A bipartisan letter signed by 131 members of the House of Representatives asked the agencies how they can avoid placing undue burden on community financial institutions.
Posted March 29, 2016 by CUNA Advocacy

The CFPB's Final Rule on Prepaid Cards was expected this month, but now the agency is signaling it will be pushed back until May or June. 

Posted March 29, 2016 by CUNA Advocacy
Our letter supports many of the proposed changes to the Bank Secrecy Act Currency Transaction Report (BCTR), while reminding FinCEN of the regulatory burden imposed by such reporting.
Posted March 28, 2016 by CUNA Advocacy
In our response to the Director's recent testimony, we pushed back on his dismissals of the impact of growing regulatory burden.
Posted March 25, 2016 by CUNA Advocacy

Legislation to update state credit union charters is nearing enactment in these two states.

Posted March 25, 2016 by CUNA Advocacy
The Georgia League has successfully carried three pieces of CU-friendly legislation to the desk of Governor Nathan Deal.
Posted March 25, 2016 by CUNA Advocacy
New bills to stop abusive patent lawsuits are moving through several legislatures.
Posted March 25, 2016 by CUNA Advocacy
The Credit Union Advisory Committee spent the day talking with CFPB staff about existing regulatory burden and upcoming rulemakings.
Posted March 24, 2016 by CUNA Advocacy
The NCUA Board met to discuss the Corporate Stability Fund, the Bank Notes Rule, and its Enterprise Solutions Modernization Program.
Posted March 23, 2016 by CUNA Advocacy
These documents included recommendations for how financial institutions can prevent and report financial abuse of American seniors.
Posted March 23, 2016 by CUNA Advocacy
This latest piece of regulatory relief from CFPB was achieved in no small part due to our comprehensive legislative and regulatory advocacy.
Posted March 23, 2016 by CUNA Advocacy
Many commissioners agreed that the TCPA statute from 1991 is outdated and needs to be updated so that modern forms of necessary communication are not impaired.
Posted March 22, 2016 by CUNA Advocacy
Several representatives requested the inclusion of CUNA-supported regulatory relief provisions in the 2017 Financial Services and General Government Appropriations bill.
Posted March 22, 2016 by CUNA Advocacy
The legislation will amend lien procedures that currently impair the lending market surrounding PACE programs.
Posted March 22, 2016 by CUNA Advocacy
The bill would raise the reporting threshold to 100 closed-end and 200 open-end mortgages.
Posted March 18, 2016 by CUNA Advocacy
Both chambers of the Wisconsin legislature have passed the measure, which was successfully championed by the Wisconsin League.
Posted March 18, 2016 by CUNA Advocacy
The League and member credit unions beat back a tax-status attack using CUNA-supplied data.
Posted March 18, 2016 by CUNA Advocacy
While these provisions are just suggestions for appropriators, they do signal increased Congressional attention to regulatory burden.
Posted March 18, 2016 by CUNA Advocacy
Following up on the letter signed by 328 House members, Stivers requested the Appropriations Committee also take up the cause of regulatory relief.
Posted March 18, 2016 by CUNA Advocacy
We are hopeful that the CFPB won't add additional regulatory burdens on the nascent NCUA Payday Alternative Loan (PAL) Program.
Posted March 18, 2016 by CUNA Advocacy
During this oversight hearing, Director Cordray faced bipartisan questions and concerns about the impacts on community financial institutions from the Bureau's heavy-handed regulatory approach.
Posted March 18, 2016 by CUNA Advocacy
The podcast featured a wide-ranging discussion of emerging payments issues.
Posted March 17, 2016 by CUNA Advocacy
FCC Chair Tom Wheeler included theses new details in a draft Notice of Proposed Rulemaking.
Posted March 17, 2016 by CUNA Advocacy
Our joint trades letter expressed significant concerns with this novel accounting process.
Posted March 17, 2016 by CUNA Advocacy
Our letter express our view that FHFA's oversight role of Fannie/Freddie is to enable and maximize the purchasing and guaranteeing of private market loans.
Posted March 17, 2016 by CUNA Advocacy
We are seeing renewed efforts in several states to implement retailer-friendly legislation, especially chip-and-pin requirements.
Posted March 17, 2016 by CUNA Advocacy
Members of the Appropriations Subcommittee on Financial Services and General Government questioned Treasury Secretary Jack Lew on regulatory burdens facing small financial institutions.
Posted March 15, 2016 by CUNA Advocacy
We have remaining concerns with the DOD database that credit union's must use to determine which borrowers are covered by the MLA protections.
Posted March 15, 2016 by CUNA Advocacy
In a nomination hearing today, the senator shared some of our concerns with the pending fiduciary rule.
Posted March 15, 2016 by CUNA Advocacy
Our letter to the Senate supported the legislation, which would clarify liability concerns surrounding the reporting of elder abuse.
Posted March 15, 2016 by CUNA Advocacy
The new MBL regulation will become effective on January 1, 2017.
Posted March 14, 2016 by CUNA Advocacy
Nothing happens in a vacuum.  We did not just wake up one morning and say to ourselves, “Let’s see if we can get Congress to write a letter to the CFPB.”
Posted March 14, 2016 by CUNA Advocacy
An overwhelming bipartisan majority of US representatives sent a letter to CFPB Director Cordray urging him to expand exemptions for credit unions.
Posted March 11, 2016 by CUNA Advocacy

NCUA Chairman Debbie Matz responded to a February letter signed by more than two dozen U.S. House members, from both parties, urging the agency to extend its examination cycle for certain credit unions.

Posted March 11, 2016 by CUNA Advocacy
A survey from Bankrate.com found that three quarters of credit unions offer free checking, while only 37 percent of banks are doing the same. And, those that do charge fees only charge a small amount.  The study also
Posted March 10, 2016 by CUNA Advocacy
Midway through the 2016 session, leagues in Florida, Indiana and Virginia are on the cusp of legislative victories as bills benefitting credit unions and their members are on the governors’ desks for signature. The
Posted March 09, 2016 by CUNA Advocacy
As we’ve reported, FASB is in the final stages of reviewing a proposed standard that would drastically change the accounting method for assessing credit impairment. The proposal, which is expected to be finalized by June, would require a forward looking
Posted March 09, 2016 by CUNA Advocacy

The National Conference of State Legislatures (NCSL) hosted a luncheon in D.C. today to review the agenda for its 2016 Legislative Summit which will take place in Chicago, August 7 – 11.

Posted March 09, 2016 by CUNA Advocacy
Today NCUA Chairman Debbie Matz announced her resignation from the agency’s Board.  Chairman Matz notified President Obama in a letter today that her resignation would be effective April 30, 2016. Matz’s resignation leaves the NCUA Board with only two
Posted March 09, 2016 by CUNA Advocacy
The next Credit Union Advisory Council (CUAC) meeting will be held on March 24, at 3 p.m. at the Consumer Financial Protection Bureau (CFPB). Eight new credit union representatives were appointed to the CUAC this year, including six CUNA members.
Posted March 09, 2016 by CUNA Advocacy
The Consumer Financial Protection Bureau (CFPB) released its latest supervision report today. The report highlights enforcement actions in the student loan market, including illegal automatic defaults by student loan servicers and illegal garnishment threats by debt collectors performing services for
Posted March 06, 2016 by CUNA Advocacy

In his speech before CUNA’s GAC, CFPB Director Cordray also addressed rulemakings which the Bureau is expected to propose this year and next, including overdraft protection and small-dollar lending.

Posted March 06, 2016 by CUNA Advocacy
Cordray said many positive things about the credit union industry in his speech. Going forward we will continue to urge the CFPB to look at the entire picture of how rulemakings are impacting credit unions, particularly small credit unions.  But we disagree with this assessment that the current state of regulatory burden in the marketplace is “good news.”  It is far from that.
Posted March 03, 2016 by CUNA Advocacy
This rulemaking was required under the transportation bill signed into law last December, and clarifies the process for rural institutions to attain regulatory relief.
Posted March 01, 2016 by CUNA Advocacy
Our letter urged Congress to support the bill, and re-iterated the ever-growing compliance burdens facing credit unions since Dodd-Frank.