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Removing Barriers Blog

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Keeping member credit unions and leagues current on what and why we are doing for advocacy efforts including legislative, regulatory and state governmental affairs.
Executive Order Mirrors CUNA’s Calls for Tailored Regulations
Posted February 05, 2017 by Ryan Donovan
President Donald Trump signed an executive order focused on the financial system that calls for “efficient, effective and appropriately tailored” regulations. This is a key objective of Credit Union National Association’s Campaign for Common Sense Regulation.
Regulatory, Examination and Supervision, Consumer Protection
White House Issues Government-wide Regulatory Freeze
Posted January 22, 2017 by CUNA Advocacy
On the night of the Inauguration the Trump Administration issued a regulatory freeze in a memo from Chief of Staff Reince Priebus to the heads of Executive departments and agencies.
Regulatory, Credit Union Powers, Examination and Supervision, Consumer Protection, Housing, Payments
NCUA Issues Examination Priorities for 2017
Posted January 13, 2017 by CUNA Advocacy

Cybersecurity Assessment and Bank Secrecy listed among other priorities to assist credit unions prepare for their next exam. 

Regulatory, Examination and Supervision
CUNA-Supported REINS Act First Major Bill Passed by House of Representatives in 2017
Posted January 05, 2017 by CUNA Advocacy

Prior to consideration in the House of Representatives, CUNA sent a letter to Members of the House urging them to vote for the bill. 

Legislative, Examination and Supervision, Consumer Protection
Return to Common-Sense Regulation Top Priority in 2017
Posted January 03, 2017 by Ryan Donovan

As we have discussed over the last several months, we see a lot of opportunity to advance regulatory reform legislation that improves the operating environment for credit unions to serve their members. 

Legislative, Regulatory, Examination and Supervision, Consumer Protection
Cybersecurity, Risk-Based Capital, and Accounting Among Issues NCUA Could Address in 2017
Posted December 13, 2016 by CUNA Advocacy

Here's a list of a few issues that may be of interest.

Regulatory, Credit Union Powers, Examination and Supervision, Consumer Protection
2016 Advocacy Accomplishments Position Credit Unions to Take Advantage of Opportunities in 2017
Posted December 12, 2016 by Ryan Donovan
A look at our advocacy accomplishments for 2016 and the opportunities that exist in 2017.
Legislative, Regulatory, State Government Affairs, Credit Union Powers, Examination and Supervision, Consumer Protection, Housing, Payments, Tax and Budget Policy
2016 End of Year Review
Posted December 12, 2016 by CUNA Advocacy

Here are some highlights from the past year. 

Legislative, Regulatory, State Government Affairs, Credit Union Powers, Examination and Supervision, Consumer Protection, Housing, Payments, Tax and Budget Policy, World Affairs
CUNA: NCUA Should Allow Stakeholder Input on Maturing NGNs
Posted November 04, 2016 by Ryan Donovan
A great deal of new information has emerged recently concerning the NCUA’s program to deal with the cost of the conservatorships of five corporate credit unions during the financial crisis of the past decade.
Regulatory, Examination and Supervision
360 Degree Advocacy On Full Display in Payday, Exam Efforts
Posted October 11, 2016 by CUNA Advocacy
For the last two years or so, we in the CUNA/League system have been talking a lot about “360 Degree Advocacy,” this notion that if public policy issues facing credit unions are addressed from all angles, and resources are brought to bear strategically and deliberately, the likelihood of a successful outcome is increased significantly.  Last week, we saw what 360 Degree Advocacy can do on two key issues – CFPB’s small dollar loan Proposal and NCUA’s supervisory improvement process.
Legislative, Regulatory, State Government Affairs, Examination and Supervision, Consumer Protection
NCUA Working Group Reports CUNA-Recommend Extended Exam Cycle to Board
Posted October 06, 2016 by CUNA Advocacy

NCUA Exam Flexibility Initiative Report available after CUNA advocacy. 

Regulatory, Examination and Supervision
NCUA Letter to CUs Provides Some Flexibility on MLA Compliance
Posted October 05, 2016 by CUNA Advocacy
NCUA to offer examination flexibility when implementing changes to the DoD Military Lending Act regulation. 


Regulatory, Examination and Supervision
Summary of September 15 NCUA Board Meeting
Posted September 16, 2016 by CUNA Advocacy
The board briefing focused on the new Cyber Assessment Tool that will be deployed in exams starting late next year.
Regulatory, Examination and Supervision
Two Regulatory Relief Sections of CHOICE Act introduced in the Senate
Posted September 15, 2016 by CUNA Advocacy
In two separate letters, we thanked Senator Mike Rounds (R-SD) for introducing both of these bills, which are Senate companions of the House versions.
Legislative, Regulatory, Examination and Supervision, Consumer Protection
CUNA Provides Suggestions to NCUA on Exam Improvements
Posted August 01, 2016 by CUNA Advocacy
In response to NCUA's Exam Flexibility Initiative, our letter provided several suggestions for improving the supervision process.
Regulatory, Examination and Supervision
Comments to NCUA on Exam and Supervision Changes
Posted July 27, 2016 by CUNA Advocacy

NCUA's Exam Flexibility Initiative is still taking comments on ways to improve their process. 

Regulatory, Examination and Supervision
Summary of July 21 NCUA Board Meeting
Posted July 21, 2016 by CUNA Advocacy
The Board received a Report of the National Credit Union Share Insurance Fund (Quarterly Report), adopted NCUA’s 2017-2021 Strategic Plan, and received a briefing on NCUA’s 2016 Mid-Session Budget.
Regulatory, Credit Union Powers, Examination and Supervision
Mulvaney / Heck Introduce OTR Bill
Posted July 17, 2016 by CUNA Advocacy
This week, Representatives Mick Mulvaney (R SC) and Denny Heck (D WA) introduced a bill to provide increased transparency with the respect to the overhead transfer rate.
Legislative, Regulatory, Examination and Supervision
CUNA Weighs In on Hensarling Regulatory Relief Proposal
Posted July 17, 2016 by CUNA Advocacy
CUNA's views on the Financial CHOICE Act.
Legislative, Regulatory, Credit Union Powers, Examination and Supervision, Consumer Protection, Housing, Payments
CUNA CEO Testifies on Regulatory Burden Before House Committee
Posted July 14, 2016 by CUNA Advocacy
Our President/CEO Jim Nussle testified before the House Financial Services Committee, and answered several questions from Members of Congress about how regulatory burden is impacting the credit union industry.
Legislative, Regulatory, Credit Union Powers, Examination and Supervision, Consumer Protection
Recent Advocacy Accomplishments Provide an Opportunity to Celebrate Progress and a Reminder that Advocacy is a Long Game
Posted June 27, 2016 by CUNA Advocacy
Over the last few months, a number of really positive things have happened as a result of years of advocacy work on the part of CUNA, the Leagues and credit unions.  We all should celebrate these victories!
Legislative, Regulatory, Credit Union Powers, Examination and Supervision, Consumer Protection, Payments
CUNA Asks NCUA to Make CECL Implementation a Priority
Posted June 24, 2016 by CUNA Advocacy

We sent NCUA a letter asking the agency to prioritize assisting credit unions as they seek to comply with this new accounting standard.

Regulatory, Examination and Supervision
NCUA Extends Call Report RFI Deadline to August 15
Posted June 20, 2016 by CUNA Advocacy
In our advocacy efforts on this rulemaking, we noted that the previous deadline was not ideal for maximizing input from credit union staff.
Regulatory, Examination and Supervision
Hensarling Reform Package Includes Many CUNA-Supported Provisions
Posted June 20, 2016 by CUNA Advocacy
The package includes many separate bills that we have supported in the past, and focuses mostly on reducing regulatory burden.
Legislative, Regulatory, Examination and Supervision, Consumer Protection, Housing
NCUA Issues Statement on Implementing FASB’s CECL Standard
Posted June 17, 2016 by CUNA Advocacy
This joint statement from the federal prudential regulators includes encouraging notes on the scalability of this new standard to smaller institutions.
Regulatory, Examination and Supervision
FASB Issues Improved Final Standard on Credit Impairment
Posted June 16, 2016 by CUNA Advocacy
While this is far from a perfect standard, we are glad that FASB did incorporate some of the improvements we advocated for.
Regulatory, Examination and Supervision
NCUA Board Meets to Discuss Adding 'S' to CAMEL
Posted June 16, 2016 by CUNA Advocacy
At this Board meeting, NCUA staff noted that most of the other FFIEC regulatory agencies have added an “S” to account for sensitivity to interest rates.
Regulatory, Examination and Supervision
Extended Exam Cycle Moves Forward With 2017 Implementation Likely
Posted June 13, 2016 by CUNA Advocacy

Thanks to CUNA's Advocacy efforts, recent legislative and regulatory developments indicate that an extended exam cycle is well on its way to becoming reality. 

Legislative, Regulatory, Examination and Supervision
Parity Bill Enacted in Missouri
Posted June 07, 2016 by CUNA Advocacy
State and federally chartered credit unions in Missouri now fall under the same account verification requirements.
State Government Affairs, Examination and Supervision
NCUA Prioritizes Supervisory Improvements
Posted May 27, 2016 by CUNA Advocacy
NCUA Chairman Rick Metsger prioritized several projects that will have a large impact on credit unions and how they interact with the NCUA. 
Regulatory, Examination and Supervision
NCUA Helps Credit Unions With Call Report Submission Deadlines
Posted May 26, 2016 by CUNA Advocacy

Several recent changes clearly demonstrate that the NCUA under Chairman Metsger is serious about improving call report and supervision processes.

Regulatory, Examination and Supervision
NCUA Board Meeting Summary- May 19, 2016
Posted May 19, 2016 by CUNA Advocacy
Board members and Larry Fazio discussed call report modernization and extending exam cycles.
Regulatory, Credit Union Powers, Examination and Supervision
CUNA Stresses Credit Union Difference in Meeting with FASB Chair
Posted May 18, 2016 by Chandler Schuette
Credit union representatives discussed FASB's recent credit-impairment standard, and emphasized that standards for big banks are often inappropriate when applied to credit unions.
Regulatory, Examination and Supervision
Metsger Comments on Extended Exam Cycle
Posted May 12, 2016 by CUNA Advocacy
Chairman Metsger's recent comments suggest a win on extended exam cycle might be closer than we thought.
Regulatory, Examination and Supervision
FASB Finalizes Credit Impairment Changes
Posted April 27, 2016 by Chandler Schuette
The Board finalized several CUNA-supported improvements, and decided to push back the implementation date until December 2020.
Regulatory, Examination and Supervision
Comment Letter to NCUA on OTR and Operating Fee Schedule Methodologies
Posted April 26, 2016 by CUNA Advocacy
Our letter commended the NCUA for opening up the OTR and the Operating Fee Schedule for public comments, but criticized some aspects of the proposed methodologies.
Regulatory, Examination and Supervision
FASB to Address Costs/Benefits and Effective Date of CECL Proposal
Posted April 21, 2016 by CUNA Advocacy
The FASB Board will meet to discuss the costs and benefits of the standard as well as its effective date.
Regulatory, Examination and Supervision
CUNA Files Comment Letter to NCUA on 2017-2021 Strategic Plan
Posted April 04, 2016 by CUNA Advocacy
Our letter included suggestions for how NCUA could modernize its examination process to minimize burdens on both NCUA and credit union staff.
Regulatory, Examination and Supervision
FASB Appears to be Listening to Concerns about CECL
Posted April 04, 2016 by CUNA Advocacy
Since last month's advocacy efforts, FASB has made positive changes to its proposed accounting standard.
Regulatory, Examination and Supervision
GAO Report Criticizes Complex Financial Regulatory Structure
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.
Legislative, Regulatory, Examination and Supervision
Letter to House in Support of Reg Relief and TAILOR Act
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.
Legislative, Regulatory, Examination and Supervision, Consumer Protection

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