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 July 31, 2015 by CUNA Advocacy

This week, CUNA President and CEO Jim Nussle penned an Op Ed in The Hill newspaper responding to wild accusations recently made by American Bankers Association president Frank Keating.

Posted July 31, 2015 by CUNA Advocacy

As the annual Legislative Summit of the National Conference of State Legislatures (NCSL) kicks off today in Seattle, CUNA and League staff are on the ground protecting credit union interests on an array of topics including the dual chartering policy, transportation network company insurance regulations, payday lending oversight and data security.

Posted July 29, 2015 by CUNA Advocacy

On Tuesday, CUNA President CEO Jim Nussle requested The Consumer Financial Protection Bureau (CFPB) to clear up an ambiguity surrounding the definition of “small creditor” as it relates to the bureau’s new mortgage rules. 

Posted July 29, 2015 by CUNA Advocacy

Yesterday, Illinois became the 15th state to permit credit unions to conduct prize linked savings raffles.

Posted July 28, 2015 by DW CMS

The Model Credit Union Act was recently updated by a working group comprised of several leagues.

Posted July 28, 2015 by CUNA Advocacy
A bill that reorganizes and updates New Hampshire’s Credit Union Act was enacted.
Posted July 27, 2015 by CUNA Advocacy
The House Financial Services Committee plans to hold a full committee markup on Tuesday, July 28 at 2pm EST.  This will be the third in a series of markups that focuses on regulatory relief for financial institutions.
Posted July 24, 2015 by CUNA Advocacy

Thursday afternoon in the House Financial Services Committee, NCUA Chairman Debbie Matz testified at a hearing on NCUA's operation and budget.  Going into the hearing, we had done a lot of work to get Members to focus on concerns credit

Posted July 24, 2015 by CUNA Advocacy

This week, CUNA President and CEO Jim Nussle sent a letter to Senators serving on the Senate Financial Services and General Government Appropriations Subcommittee in response to inaccurate information sent to the Subcommittee in letters from the American Bankers Association

Posted July 21, 2015 by DW CMS
The Consumer Financial Protection Bureau (CFPB) today issued its final rule moving the effective date of the TILA-RESPA Integrated Disclosures rule to October 3, 2015.
Posted July 24, 2015 by CUNA Advocacy

One of my favorite parts of my job is the opportunity to teach a class on advocacy to third year students at CUNA Management School, as I did earlier this week.  It's great to speak to future leaders in the

Posted July 24, 2015 by CUNA Advocacy
The NCUA Board held an open meeting on July 23, 2015
Posted July 21, 2015 by CUNA Advocacy

On July 21st, CUNA joined nine other banking and housing trade groups on a letter to Majority Leader Mitch McConnell and Minority Leader Harry Reid opposing the use of government guarantee fees (G fees) as an offset to pay for

Posted July 23, 2015 by DW CMS

Last week, the Uniform Law Commission, which drafts uniform laws for the states to consider and enact, approved The Uniform Home Foreclosures Procedures Act. The Commission began work on the Act in January 2012 in response to the wave residential foreclosures. While

Posted July 22, 2015 by CUNA Advocacy

Today, we submitted a letter for the record of tomorrow’s hearing in the House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit focusing on NCUA’s budget and operations. The impetus of the hearing is how NCUA has managed

Posted July 21, 2015 by CUNA Advocacy

Today the U.S. Department of Defense (DoD) expanded the types of credit products that are covered by a 36% rate cap and other military specific protections under the Military Lending Act (MLA) through a final rule. 

Posted July 21, 2015 by CUNA Advocacy

Today, the United States Senate Finance Committee overwhelmingly passed legislation to extend several dozen tax provisions that expired at the end of last year.

Posted July 21, 2015 by CUNA Advocacy

CUNA submitted a comm LD1  ent this week to the U.S. Department of Labor (DOL) concerning the proposed regulation defining who is a “fiduciary” of an employee benefit plan under the Employee Retirement Income Security Act of 1974 (ERISA) which

Posted July 15, 2015 by CUNA Advocacy
Just about everyone agrees that it is good public policy for Congress to pay for the bills they enact into law, but trend of trying to increasing regulatory burden on credit unions and small banks to help pay for these bills is disturbing.
Posted July 19, 2015 by CUNA Advocacy
It’s been six years since the last time NCUA held a hearing on its budget; it’s been almost four years since an NCUA Chairman has testified before the House Financial Services Committee.  On Friday, that will change when NCUA Chairman Matz testifies before the House Financial Services Committee.
Posted July 16, 2015 by CUNA Advocacy

On July 10 the Federal Communications Commission (FCC) issued an Omnibus Declaratory Ruling and Order about the Telephone Consumer Protection Act (TCPA). One important component of this ruling is an exemption granted for certain free to the consumer autodialed calls

Posted July 15, 2015 by CUNA Advocacy

In March, the CFPB introduced proposals it is considering for rulemaking for payday and other small dollar loans, and subsequently held a Small Businesses Review Panel as required by the Small Business Regulatory Enforcement Fairness Act of 1996 (SBREFA) to

Posted July 15, 2015 by CUNA Advocacy

  On Tuesday, Representative Roger Williams (R TX) introduced H.R. 3048, a bill which would provide credit unions and small banks an exemption from CFPB rules.  While we have some technical concerns with the bill, CUNA supports the legislation and

Posted July 15, 2015 by CUNA Advocacy

The Department of Justice (DOJ) recently responded LD1   to a letter from Rep. Blaine Luetkemeyer (R MO) and 31 other Members of Congress which requested an investigation into Operation Choke Point and the DOJ staff involved in the investigation.

Posted July 14, 2015 by CUNA Advocacy
There is a lot that needs to be done to focus the CFPB on those entities that are truly hurting consumers.  Credit unions aren’t the problem, but the CFPB’s solutions are keeping credit unions from fully serving their members.  That is a problem.  As we approach the CFPB’s 5th birthday, it’s long past time for Congress to make major changes at the CFPB.
Posted July 13, 2015 by CUNA Advocacy

On Tuesday, the House of Representatives will consider bills important to credit unions H.R. 1408, the Mortgage Servicing Asset Capital Requirements Act, and H.R. 1529, the Community Institution Mortgage Relief Act.  CUNA strongly supports both

Posted July 09, 2015 by CUNA Advocacy

CUNA sent a letter to the NCUA today urging the agency to take a forward looking approach to modernizing insurance regulations. As you know, the 113th Congress passed H.R. 3468, the Credit Union Share Insurance Fund Parity Act

Posted July 09, 2015 by CUNA Advocacy

CUNA filed a letter with the CFPB in response to its request for information on student loan servicing. In order to better serve the needs of borrowers and support access to higher education, CUNA supports the Bureau’s effort to

Posted July 08, 2015 by CUNA Advocacy

Today the United States Senate’s Finance Committee released a business income tax reform report.  Among the recommendations for reforms, no mention was made of altering credit unions’ tax status in any way.  This is a huge victory for credit

Posted July 08, 2015 by CUNA Advocacy

As you know, the CFPB has announced that the original effective date of their TILA RESPA Integrated Disclosures (TRID) regulation has been moved from its original date to October 3rd. CUNA has acknowledged the change and offered appreciation at

Posted July 06, 2015 by CUNA Advocacy

CUNA sent a letter to Representative Tipton and Representative Barr in support of their legislation, H.R. 2896, “Taking Account of Institutions with Low Operation Risk Act of 2015.” H.R. 2896 will reduce regulatory burden for financial institutions with lower

Posted July 06, 2015 by CUNA Advocacy

CUNA sent a letter to the CFPB on Friday commenting on their proposed delay to October 3, 2015 for implementation of the TILA RESPA Integrated Mortgage Disclosures Rule. CUNA commented that it believed the additional two month period was

Posted July 03, 2015 by CUNA Advocacy

Similar transportation network company (TNC) bills were enacted in Louisiana and Maine. Louisiana S 172 and Maine H 934 both require TNCs to notify drivers that their personal policies may not cover collisions that occur while drivers are using their vehicles for TNC related activities.

Posted July 03, 2015 by CUNA Advocacy

The newly enacted "Rhode Island Identity Theft Protection Act of 2015," H 5220 and S 134, requires notification of data breaches within 45 days. If the breach impacts more than 500 Rhode Island residents, the attorney general must

Posted July 02, 2015 by CUNA Advocacy

  The Governmental Accountability Office released a report today that suggests that federal depository institution regulators need better data analytics and that depository institutions want more usable threat information.  The report also made a key recommendation related to vendor supervisory

Posted July 02, 2015 by CUNA Advocacy

In a letter to ED, CUNA cited concerns with a proposal to amend ED’s Title IV Higher Education Act (HEA) cash management rules that include significant new restrictions on financial products used to disburse student loan refunds. Though the impact of

Posted July 02, 2015 by CUNA Advocacy

House Majority Leader Kevin McCarthy indicates the House will consider the Financial Services and General Government Appropriations Bill in July

Posted June 30, 2015 by CUNA Advocacy

Jim Nussle sent a letter to Chairman Matz to ensure NCUA is aware of CUNA’s continuing grave concerns regarding the Financial Accounting Standards Board’s (FASB) pending rule change on accounting for credit impairment. The pending change, which was proposed

Posted June 30, 2015 by CUNA Advocacy

CUNA sent a letter to the Federal Reserve last Monday in regards to a proposal from NACHA, the Electronic Payments Association regarding Same Day ACH.  We sent the letter because the change to Same Day ACH will impact