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 June 29, 2015 by CUNA Advocacy

July is historically one of the busier months on Capitol Hill, with lawmakers trying to move appropriations and other bills in advance of the long August recess.  This July will be of particular interest in credit unions since the

Posted June 26, 2015 by CUNA Advocacy

On Thursday, June 25 the CFPB published more than 7,700 consumer complaints against financial companies. CUNA has filed several comments with the CFPB concerning the complaint database and continues to urge the Bureau to make any necessary adjustments

Posted June 26, 2015 by CUNA Advocacy

The Carolina Credit Union League has been working diligently to ensure South Carolina credit unions' members and collateral are protected when members are driving for transportation network companies (TNCs). The league assisted in the drafting of H 3525, which requires TNC drivers to notify lienholders that drivers

Posted June 26, 2015 by CUNA Advocacy

Last week, the Cornerstone Credit Union League met with CFPB Director Richard Cordray and his staff and discussed issues relating to overdraft protection and compliance with new TILA RESPA rules. In regard to overdraft, the credit unions spoke with

Posted June 26, 2015 by CUNA Advocacy

On Wednesday, June 23 CUNA held a phone call with CFPB staff as a follow up to President CEO Jim Nussle’s letter to the CFPB expressing our concerns and seeking clarity about a discrepancy related to the scope of

Posted June 23, 2015 by CUNA Advocacy

Over the weekend, Texas Governor Greg Abbott vetoed H 1628, which would have permitted credit unions and other financial institutions to offer prize linked savings (PLS) programs. Governor Abbott said in his veto statement that the “Texas Constitution authorizes

Posted June 23, 2015 by CUNA Advocacy

At its meeting last Thursday, the National Credit Union Administration (NCUA) proposed a rule that would removes several barriers that keep credit unions from more fully serving their small business members, putting more decisions in the hands of credit

Posted June 22, 2015 by CUNA Advocacy

This week’s advocacy update focusses on what’s happening on Capitol Hill this coming week before the House and Senate adjourn for the July 4th recess pending regulatory comment calls and the launch of the Removing Barriers Blog. It also

Posted June 22, 2015 by CUNA Advocacy

In North Carolina an update to the state's credit union act, H 511, was recently enacted. The legislation permits credit unions to offer escrow accounts upon a ruling by NCUA. The bill also clarifies that credit unions can invest in higher education bonds and

Posted June 18, 2015 by CUNA Advocacy

A measure prohibiting false claims of patent infringement was recently enacted in Texas. S 1457 also permits civil penalties and reimbursement for violating the law. The TNC bill, H 1733, while not requiring the comprehensive and collision insurance coverage

Posted June 18, 2015 by CUNA Advocacy

The National Credit Union Administration Board (NCUA) held its June open board meeting today.  There were six items on the agenda including a proposed member business loan (MBL) rule.   The proposed MBL rule would modernize business lending by removing

Posted June 17, 2015 by CUNA Advocacy

CFPB Director Richard Cordray announced today that the effective date of the TILA RESPA Integrated Disclosures Regulation will be extended until October 1st from its original date of August 1st. CUNA has strongly advocated for an extension of the

Posted June 17, 2015 by CUNA Advocacy

The House Appropriations Committee adopted language today by voice vote regarding the National Credit Union Administration's continuing work to issue a risk based capital (RBC) regime for credit unions. The Committee recognized the ongoing concerns of CUNA and credit

Posted June 17, 2015 by CUNA Advocacy

In a May 18, comment letter to the CFPB, CUNA provided input on a number issues related to the credit card market. As part of its review of the credit card market, the CFPB extended the deadline until June

Posted June 16, 2015 by CUNA Advocacy

Yesterday, a Northwest Credit Union backed update to the Oregon credit union act was enacted.  The legislation, S 582, permits Oregon state chartered credit unions to compensate directors, removes the membership share requirement for state chartered credit unions, clarifies

Posted June 16, 2015 by CUNA Advocacy

CUNA sent a letter to leadership of the House Committee on Appropriations today to combat false claims from bankers on the credit union tax status and role of the member business lending cap. The letter expressed disappointment in an

Posted June 15, 2015 by CUNA Advocacy

Recently, a data security measure, S 1833, was sent to the governor in Illinois. The bill requires attorney general notification of breaches and the posting of privacy policies. In Connecticut, S 949, which requires mitigation services to individuals who

Posted June 15, 2015 by CUNA Advocacy

CUNA sent a letter to the House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises for the record of its hearing scheduled for tomorrow entitled, “Legislative Proposals to Modernize Business Development Companies and Expand Investment Opportunities.” In

Posted June 15, 2015 by CUNA Advocacy

CUNA sent our recommendations on field of membership reform to NCUA today. As you may know, NCUA is conducting a review of their field of membership requirements and has put together a working group to discuss possible reforms to

Posted June 15, 2015 by CUNA Advocacy

This week our Advocacy update and video focus on the House Appropriations Committee Markup of the FY2016 Financial Services and General Government Appropriations bill. We expect that the Committee will recognize the importance of codifying the credit union advisory

Posted June 11, 2015 by CUNA Advocacy

Today CUNA sent a letter to the CFPB Director Cordray reiterating our serious concerns with proposed Home Mortgage Disclosure Act (HMDA) Regulation C data reporting requirements. In the letter, CUNA President CEO Jim Nussle urged the CFPB to only

Posted June 11, 2015 by CUNA Advocacy

Today we filed a comment letter with NCUA supporting the agency’s second corporate credit union proposed rule.  The proposed rule would remove CLF related bridge loans made to a natural person credit unions that have been approved for a

Posted June 11, 2015 by CUNA Advocacy

Today the House Financial Services Subcommittee on Financial Institutions and Consumer Credit held a hearing reviewing six CUNA supported bills. CUNA joined a joint trades’ letter today in support of H.R. 1266, the Financial Product Safety Commission Act of

Posted June 10, 2015 by CUNA Advocacy

CUNA and other financial services trade associations joined in a letter to Senate leadership urging support for an amendment added to a house bill which contains the text of S. 754, the Cybersecurity Information Sharing Act. The bill, better

Posted June 10, 2015 by CUNA Advocacy

An important provision was removed from the Senate’s trade bill today by the House Ways and Means Committee before the House votes on the bill, which is expected sometime next week. The provision would have required credit unions to

Posted June 09, 2015 by CUNA Advocacy

The financial services coalition of which CUNA is a member wrote a letter to House Judiciary Committee Chairman Goodlatte in anticipation of the markup of H.R. 9, the Innovation Act. The group expressed their earnest support of efforts towards

Posted June 09, 2015 by CUNA Advocacy

CUNA joined a number of other financial services trade associations in a letter urging House Financial Services Committee leadership to pass H.R. 2213, which will provide a reasonable hold harmless period for enforcement of the of the Consumer Financial

Posted June 09, 2015 by CUNA Advocacy

Today CUNA CEO Jim Nussle sent a letter to leadership of the House Financial Services Subcommittee on Financial Institutions and Consumer Credit regarding their hearing on Thursday entitled, “Examining Legislative Proposals to Preserve Consumer Choice and Financial Independence.” CUNA

Posted June 08, 2015 by CUNA Advocacy

After passing the state legislatures last week, updates to the New Hampshire and Oregon credit union acts are currently awaiting governors’ signatures.  In New Hampshire S 188, clarifies and modernizes the application procedure for establishing a new credit

Posted June 08, 2015 by CUNA Advocacy

Check out today’s Advocacy Update on CUNA.org. Also, tune into this week’s video update This week we highlight the House Financial Services Committee Subcommittee on Financial Institutions and Consumer Credit hearing on legislative proposals to preserve consumer choice and

Posted June 04, 2015 by CUNA Advocacy

CUNA joined a letter to all members of the House of Representatives supporting Representative Garrett’s (R NJ) amendment to H.R.2577, the Transportation, Housing and Urban Development, and Related Agencies Appropriations Act for Fiscal Year 2016. The amendment would prohibit the

Posted June 04, 2015 by CUNA Advocacy

The Senate Committee on the Judiciary held a markup of S. 1137, the “PATENT Act” today. The bill passed the Committee by a vote of 16 – 4.   CUNA joined with other financial services trade groups in a letter

Posted June 03, 2015 by CUNA Advocacy

A group of financial services trade associations, including CUNA, sent a letter to Senate and House leadership expressing concern over section 603 of H.R. 1295, the Trade Preferences Extension Act which passed the Senate on May 18.  Section 603 would

Posted June 03, 2015 by CUNA Advocacy

CUNA sent the CFPB a letter in regards to their pre rule efforts on overdraft protection and the order they issued to collect data from the top three core processors. We explained that consumers value overdraft protection and appreciate the

Posted June 03, 2015 by CUNA Advocacy

Senator Donnelly (D IN) and Senator Portman (R OH) introduced S. 1367 today, which would amend the Federal Home Loan Bank (FHLB) Act to provide equity for privately insured credit unions. The House has already passed its own version of

Posted June 03, 2015 by CUNA Advocacy

Today, CFPB Director Richard Cordray announced that the Truth in Lending Act Real Estate Mortgage Disclosure Act (TRID) rule implementation will grant mortgage lenders leniency on the August 1st implementation date. CUNA has requested such a delay before congress, calling

Posted June 01, 2015 by CUNA Advocacy

CUNA sent a letter to the CFPB today regarding the Small Business Advisory Review Panel for rulemakings for payday, vehicle title and similar loans as required by the Small Business Regulatory Enforcement Fairness Act of 1996 (SBREFA). We expressed concerns