Removing Barriers Blog


  • Regulatory 

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 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.
Posted February 04, 2017 by ManojBhoi
The hearing will feature remarks from CFPB Director Richard Cordray, as well as testimony from consumer groups, industry representatives, and members of the public.
Posted February 03, 2017 by ManojBhoi

CUNA sought and obtained improvements to final rule, but remained concerned that regulatory burdens could make it more difficult for consumers to receive support planning for their financial future from credit union service organizations and some credit unions. 

Posted February 02, 2017 by ManojBhoi

The 158-page compliance guide is intended to help financial institutions understand how the rule applies to their operations.

Posted February 02, 2017 by ManojBhoi

Democrat members of Congress and several special interest groups most recently sought to intervene.

Posted February 02, 2017 by ManojBhoi

The Agencies were open to hearing the challenges arising under the MLA and the upcoming credit card regulatory deadline.

Posted February 01, 2017 by ManojBhoi

CUNA outlined concerns with the FCC interpretation of the Telephone Consumer Protection Act. 

Posted January 29, 2017 by ManojBhoi

On Friday, PHH filed its response to the CFPB’s request for a rehearing en banc in the landmark lawsuit in which the U.S. Court of Appeal for the D.C. Circuit found that the construct of the CFPB violates the constitution and that the Director of it can be removed “at-will”. PHH argued that the court should deny the petition for rehearing en banc.

Posted January 27, 2017 by ManojBhoi

Several special interest groups, as well as Congressional Democrats petitioned to join the PHH lawsuit while legal experts continue to opine on whether President Trump has the authority to remove CFPB Director Richard Cordray.

Posted January 26, 2017 by CUNA Advocacy

The report details the current landscape and challenges regarding development of a faster payments system in the U.S.

Posted January 26, 2017 by CUNA Advocacy

The court found that ICBA lacked standing and timeliness for the claim.

Posted January 26, 2017 by ManojBhoi

CUNA will address some additional concerns credit unions have with the July 2015 TCPA Order. 

Posted January 23, 2017 by CUNA Advocacy

Here are the details from NCUA's January 19th meeting

Posted January 22, 2017 by ManojBhoi
It was widely reported on Friday that President Trump plans to tap Federal Communications Commission (FCC) Commissioner Ajit Pai to lead the agency in the new Administration.
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.
Posted January 19, 2017 by ManojBhoi

 Congress should consider feedback from credit unions that participated on SBREFA panels who felt that final rules did not include enough changes and/or exemptions to limit impact on small credit unions. 

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. 

Posted January 12, 2017 by YKallepalli

In its findings, the CFPB identifies a number of consumer preferences and concerns. It also highlights some differences when comparing collections for creditors and collectors.

Posted January 11, 2017 by CUNA Advocacy

The plaintiffs claim that the New York’s law violates a merchant’s right of free speech by regulating how they communicate a pricing structure to customers

Posted January 10, 2017 by YKallepalli

The event will feature remarks from Attorney General Karl Racine and CFPB Director Richard Cordray, as well as comments by members of the public

Posted January 09, 2017 by CUNA Advocacy

 The legislation would delay implementation of the rule for two additional years after April 2017, when the first implementation date is currently set.

Posted January 09, 2017 by CUNA Advocacy

Court ruled that the appeal can continue, which means the court could at any time grant the request to permanently stop the rule from moving forward.

Posted January 09, 2017 by CUNA Advocacy

Exemption threshold for HMDA will remain at $44 million

Posted January 06, 2017 by narorastg

Here's a rundown of everything you need to know about applying to CUAC.

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. 

Posted January 03, 2017 by CUNA Advocacy

The Consumer Financial Protection Bureau’s Office for Older Americans has created a guide called Managing Someone Else’s Money specific to financial caregivers in Illinois.  It is hosting a webinar on January 12 to provide information about it.

Posted December 21, 2016 by CUNA Advocacy

CUNA filed an amicus brief that supports credit union members’ ability to use credit cards without being charged a fee or surcharge.

Posted December 21, 2016 by CUNA Advocacy

 The study ignores or misunderstands how certain regulations apply to overdraft services, and it also fails to consider how credit unions differ from banks when offering overdraft services and assumes they are of little to no benefit to consumers.

Posted December 16, 2016 by CUNA Advocacy

A quick summary from a CFPB blog post.

Posted December 15, 2016 by CUNA Advocacy

The court heard arguments from the U.S Attorney, who is representing NCUA and ICBA’s attorney.

Posted December 15, 2016 by CUNA Advocacy

Several groups expressed concerns that they could not locate documented ex parte communications to proposed rules or noticed that the documentation of such communications were publicly available in noticeably varying timeframes on regulations.gov. 

Posted December 15, 2016 by CUNA Advocacy

This opens the door for a Republican led Commission in the new Administration. 

Posted December 13, 2016 by CUNA Advocacy

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

Posted December 12, 2016 by CUNA Advocacy

We sent a letter to the Department of Defense urging them to answer some of our questions. 

Posted December 12, 2016 by CUNA Advocacy

CUNA expressed our ongoing concerns with a proposed Consumer Response Company Response Survey.

Posted December 12, 2016 by Ryan Donovan
A look at our advocacy accomplishments for 2016 and the opportunities that exist in 2017.
Posted December 12, 2016 by CUNA Advocacy

Here are some highlights from the past year. 

Posted December 08, 2016 by CUNA Advocacy

This new FOM proposal would make two important additional changes to NCUA’s rules.

Posted December 08, 2016 by CUNA Advocacy

The final FOM rule provides much needed regulatory relief for credit unions.  It modernizes FOM regulations, giving credit unions more flexibility in defining the communities that they serve and thus gives consumers more choice for financial services.

Posted December 07, 2016 by CUNA Advocacy

The CFPB currently has "unprecedented authority over financial institutions, with minimal oversight,” leading to “regulatory uncertainty for consumers, industry, and the economy.” 

Posted December 01, 2016 by CUNA Advocacy

We try to clarify what will happen with the FCC under the Trump Administration. 

Posted December 01, 2016 by CUNA Advocacy

CUNA has urged the CFPB not to move forward with any new regulations for overdraft services for credit unions through education about how credit union members use overdraft services. 

Posted December 01, 2016 by CUNA Advocacy

This raises a few concerns due to CFPB's circumvention of Notice and Comment process of rulemaking, among other things. 

Posted December 01, 2016 by CUNA Advocacy

We list a few key highlights from the agenda. 

Posted November 30, 2016 by CUNA Advocacy

Read on to see what was discussed. 

Posted November 28, 2016 by CUNA Advocacy

CUNA filed its comment letter supporting the proposed rule implementing changes to the current FHLB rule. 

Posted November 23, 2016 by CUNA Advocacy

The injunction is effective nationwide and will remain in effect pending further order of the court.

Posted November 22, 2016 by CUNA Advocacy

Seeking input on an interagency proposal on private flood insurance.

Posted November 22, 2016 by CUNA Advocacy

We argue that NCUA’s interpretation of the Federal Credit Union Act in the rule is well within the agency’s legal authority and defend NCUA’s definition of MBL noting it has not substantively changed since 2003 and by definition can only include loans made to a member of the lending credit union

Posted November 21, 2016 by CUNA Advocacy

A decision on this case will determine whether President-elect Trump can remove the Director of the CFPB "at will" or "for cause."

Posted November 21, 2016 by CUNA Advocacy

We discuss highlights of Director Cordray's meeting in Alaska.

Posted November 17, 2016 by CUNA Advocacy

FinTech companies at the heart of discussion on financial records access. 

Posted November 17, 2016 by CUNA Advocacy

Details of NCUA's November 2016 Board meeting. 

Posted November 17, 2016 by CUNA Advocacy
House Committee Chairs send letter to agencies urging forbearance on pending rules.
Posted November 16, 2016 by CUNA Advocacy

Webinar will be held December 1 at 3pm EST.

Posted November 16, 2016 by CUNA Advocacy

The CFPB will convene a public field hearing at 11am MST, November 17. 

Posted November 16, 2016 by CUNA Advocacy

How the Trump Administration could affect the rule's implementation. 

Posted November 16, 2016 by CUNA Advocacy

A rundown of what these changes will mean for credit unions. 

Posted November 14, 2016 by CUNA Advocacy

Enforcement action, payday and small dollar rule also among topics discussed in meeting with CFPB.

Posted November 11, 2016 by CUNA Advocacy

Answers to questions regarding the CFPB post election. 

Posted November 11, 2016 by CUNA Advocacy

CUNA encourages CFPB to impose a moratorium on all pending rulemakings citing consumer concerns. 

Posted November 10, 2016 by Ryan Donovan

In an election that has been marked with surprises both during the primary and general elections, the American public chose Donald J. Trump as the 45th President of the United States. 

Posted November 04, 2016 by CUNA Advocacy

CUNA filed a letter with the CFPB in response to its RFI on Payday Loans, Vehicle Title Loans, Installment Loans, and Open-End Lines of Credit, highlighting consumer friendly CU services that should not be detrimentally impacted by CFPB rulemakings. 

Posted November 04, 2016 by CUNA Advocacy

Read CUNA President and CEO Jim Nussle's letter to the NCUA concerning their proposed 2017-2018 budget. 

Posted November 04, 2016 by CUNA Advocacy

CFPB developing and implementing a web-based data submission to process HMDA data. 

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.
Posted November 03, 2016 by CUNA Advocacy
As the first implementation date of April 2017 draws near for the DOL Fiduciary rule, the agency released the first round of FAQs. CUNA expects the DOL to release additional FAQs over the next few months.  One applicable FAQ addresses the BICE
Posted November 01, 2016 by CUNA Advocacy
The U.S. Government Accountability Office (GAO) released its report comparing the single family home purchase loans guaranteed by the Rural Housing Service (RHS) and the Federal Housing Administration (FHA) for fiscal years 2010–2014 and identified significant overlap and some differences
Posted October 28, 2016 by CUNA Advocacy
NCUA had their board meeting. Here are the highlights:
Posted October 27, 2016 by CUNA Advocacy

Constitutional grounds cited as one of many reasons to oppose the proposal.

Posted October 27, 2016 by CUNA Advocacy

CUNA Advocacy issues discussed in Park City, UT at Attorney's conference

Posted October 25, 2016 by CUNA Advocacy


Posted October 24, 2016 by CUNA Advocacy

CUNA raises concern over revisions to existing rule

Posted October 24, 2016 by CUNA Advocacy


Posted October 20, 2016 by CUNA Advocacy


Posted October 19, 2016 by CUNA Advocacy
A panel consisting of D.C. Circuit Court of Appeals Judges Srinivasan, Pillard, and Edwards questioned counsel for the petitioners, as well as the FCC’s counsel, for nearly three hours in the oral arguments for the lawsuit challenging the FCC’s July 2015 TCPA
Posted October 14, 2016 by CUNA Advocacy
Webinar will be on November 9, from 2-3:30 pm Eastern.
Posted October 14, 2016 by CUNA Advocacy

CUNA will be attending the hearing at DC Court of Appeals as the FCC's TCPA order is challenged. 

Posted October 14, 2016 by CUNA Advocacy


Posted October 13, 2016 by CUNA Advocacy

Consent Order from CFPB raises questions for credit unions regarding what is considered a UDAAP violation. 

Posted October 13, 2016 by CUNA Advocacy

CFPB approves FHFA as a conservator for the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association. 

Posted October 12, 2016 by CUNA Advocacy

A new ruling from the D.C. Court of Appeals allows the President to remove the Director of the CFPB.

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.
Posted October 07, 2016 by CUNA Advocacy

After research and roundtables, the SBA filed a comment letter supporting CU exemptions from Payday Rule.

Posted October 06, 2016 by CUNA Advocacy

NCUA Exam Flexibility Initiative Report available after CUNA advocacy. 

Posted October 05, 2016 by CUNA Advocacy

Here's a rundown on CFPB's rule on prepaid accounts

Posted October 05, 2016 by CUNA Advocacy
NCUA to offer examination flexibility when implementing changes to the DoD Military Lending Act regulation. 


Posted October 05, 2016 by CUNA Advocacy

CUNA responds to CFPB's Small Dollar rule with a 61 page detailed letter.

Posted September 30, 2016 by CUNA Advocacy

Updates to MLA Interagency Examination Procedures - 2015 Amendments is released today

Posted September 30, 2016 by CUNA Advocacy
The last week of Congressional activity before the election featured two significant events relating to credit union priorities.
Posted September 29, 2016 by CUNA Advocacy
Our concerns with the accuracy and privacy of the CFPB consumer complaint database extend to this latest proposal.
Posted September 29, 2016 by CUNA Advocacy
While the stopgap measure did not include any of the provisions we secured in various appropriations bills, we hope that these provisions will be included in whatever legislative package eventually funds the government for all of FY2017.
Posted September 27, 2016 by CUNA Advocacy
Our letter sent in advance of the hearing, thanked the committee for considering legislation to give NCUA clear authority to provide deposit insurance for prepaid and payroll cards.
Posted September 23, 2016 by CUNA Advocacy

NACHA and the Federal Reserve require RDFIs be capable of receiving same-day ACH payments.

Posted September 22, 2016 by CUNA Advocacy
We've used this hearing, and several others, as opportunities to express our many concerns with the outdated TCPA, and the troublesome FCC Order from last year.
Posted September 21, 2016 by CUNA Advocacy
The CFPB has told us that they want to hear directly from credit unions, so we have activated our Grassroots Action Center to make commenting as easy as possible.
Posted September 21, 2016 by CUNA Advocacy

This will be the third congressional hearing on the FCC's TCPA order this year, and we once again sent a letter in support of the committee's oversight. 

Posted September 16, 2016 by CUNA Advocacy
We have been asking both NCUA and the Department of Defense to issue some much-needed clarifications for the MLA rule before it becomes effective.
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.
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.
Posted September 13, 2016 by CUNA Advocacy
While the bill made it through the committee on mostly partisan lines, its not likely to get a full floor vote during this Congress.
Posted September 13, 2016 by CUNA Advocacy
The over 500-page Dodd-Frank reform bill is set to be considered by the House Financial Services Committee today.
Posted September 12, 2016 by CUNA Advocacy
This month, credit union representatives from many different states are traveling to Washington to have their voices heard, particularly on the proposed small-dollar loan rule from CFPB.
Posted September 12, 2016 by CUNA Advocacy

CFPB highlighted credit unions' work on financial literacy for youth, and released a report entitled " Teaching Financial Fundamentals."

Posted September 09, 2016 by CUNA Advocacy
We are confident that the NCUA's Member Business Lending (MBL) rule falls fully within the scope of the Federal Credit Union Act, and will withstand this meritless legal challenge.
Posted September 09, 2016 by CUNA Advocacy
It appears the Bureau is working separately with first and third party creditors as it writes new debt collection regulations.
Posted September 09, 2016 by CUNA Advocacy
The House Financial Services Committee next week will begin debate on the chairman's Dodd-Frank reform package, which includes several regulatory relief provisions important to credit unions.
Posted September 06, 2016 by CUNA Advocacy

The proposal focuses on expanding credit access to small businesses, who create a majority of new jobs in the US.

Posted September 02, 2016 by CUNA Advocacy
CUAC had their meeting and discussed a variety of issues the credit union industry currently faces.
Posted August 30, 2016 by CUNA Advocacy
We are seeking comments on the CFPB's proposed changes to its TILA/RESPA Integrated Discolsure (TRID) mortgage rule.
Posted August 25, 2016 by CUNA Advocacy
While we appreciate the release of the compliance guidance document, it may not provide sufficient information in advance of the October 3 effective date.
Posted August 25, 2016 by CUNA Advocacy
Members from both chambers strongly criticized the proposal and urged Director Cordray to amend or re-propose the rule.
Posted August 25, 2016 by CUNA Advocacy

CFPB releases a report on ways to use networks to fight elder financial exploitation and what credit unions can do to join the cause.

Posted August 24, 2016 by CUNA Advocacy

The CFPB creates a page to help navigate the changes from the Know Before You Owe initiative.

Posted August 19, 2016 by CUNA Advocacy
We strongly believe that the recent arbitration proposal from CFPB is inappropriate for credit unions, since they are owned by their members and regularly use consumer-friendly means of dispute resolution.
Posted August 11, 2016 by CUNA Advocacy
In recent meetings, CFPB staff have indicated that the Bureau has no intention to and does not believe it has to use the exemption authority to tailor its regulations toward the abusers of consumers, despite the overwhelming message from Congress.
Posted August 02, 2016 by CUNA Advocacy
This week, the FHFA accepted our concerns regarding language preference on the Uniform Residential Loan Application (URLA)
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.
Posted August 01, 2016 by CUNA Advocacy
This latest change is the result of the FAST Act passed by Congress last year, and further reduces the unnecessary regulatory burdens relating to providing annual privacy notices.
Posted August 01, 2016 by CUNA Advocacy
Although the Bureau was initially hesitant to make changes to the recent TRID rule, we are happy that our requests have led to the release of these proposed fixes.
Posted August 01, 2016 by CUNA Advocacy
While these recent proposals do not include credit unions or first-party collectors, we remain concerned about the Bureau's continued prescriptive approach to rulemaking.
Posted July 29, 2016 by CUNA Advocacy
When you are at the CFPB and someone discloses that the ex parte rules may apply, don’t be intimidated by it.  Rather, embrace it knowing that it means you’re not only going to have your say, but that you are talking to a decision-maker and there will be a record of your conversation.
Posted July 27, 2016 by CUNA Advocacy

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

Posted July 26, 2016 by CUNA Advocacy

CUNA staff met with the Consumer Financial Protection Bureau today to address concerns and seek clarifications about its proposed rule for payday and small dollar loans.

Posted July 26, 2016 by CUNA Advocacy

The Telephone Consumer Protection Act is set for October and CUNA will be challenging this FCC order.

Posted July 22, 2016 by CUNA Advocacy
This will give credit unions more time to assess the impact of the proposed rule.
Posted July 22, 2016 by CUNA Advocacy
We urged the NCUA to minimize this rule's impact on all credit unions, since excessive compensation has not been given as a reason for a credit union failures, compared to banks.
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.
Posted July 21, 2016 by CUNA Advocacy
Our letter to Director Cordray included many suggestions on how the Bureau could tailor its regulations away from credit unions and towards the actual abusers of consumers.
Posted July 18, 2016 by CUNA Advocacy
The letter echoes a previous message from Congress, which urged the CFPB to expand use of its Section 1022 Exemption Authority.
Posted July 18, 2016 by CUNA Advocacy
We expect the hearing to feature proposals for a regulation on debt collection, however we don't anticipate it to include credit unions at this point.
Posted July 18, 2016 by CUNA Advocacy
While legislators may be out of town for the next several weeks, regulatory activity from the CFPB will continue apace.
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.
Posted July 17, 2016 by CUNA Advocacy
CUNA's views on the Financial CHOICE Act.
Posted July 14, 2016 by CUNA Advocacy
One of the ways to move legislation through Congress is on appropriations bills, two of which currently contain regulatory relief language favorable to credit unions.
Posted July 14, 2016 by CUNA Advocacy
The House Appropriations committee recently approved this bill, which contains a provision related to the DOL's Overtime Rule.
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.
Posted July 14, 2016 by CUNA Advocacy
The webinar will explain the intricacies of this final rule, and how it will affect credit unions.
Posted July 13, 2016 by CUNA Advocacy
The letter raised concerns about possible ECOA and UDAAP issues arising from FHFA's recent proposal.
Posted July 12, 2016 by CUNA Advocacy
Due to our legislative and regulatory advocacy work, this is now the second time CFPB has proposed changes to privacy notices under Regulation P.
Posted July 08, 2016 by CUNA Advocacy
This Ruling is in line with a recent Supreme Court decision, which determined that the US government is immune from the TCPA.
Posted July 08, 2016 by CUNA Advocacy
The bill includes funding for important credit union programs and several regulatory relief provisions.
Posted July 06, 2016 by CUNA Advocacy
This CUNA-supported bill sailed through committee and easily passed the whole House by a voice vote.
Posted July 05, 2016 by CUNA Advocacy
While NCUA stated that these changes are purely technical in nature, we would like to know if credit unions have any concerns with the proposed changes.
Posted July 05, 2016 by CUNA Advocacy

Our regulatory advocacy attorneys will walk through our recent analysis of this massive rule, and help credit unions with their comment letters. 

Posted July 05, 2016 by CUNA Advocacy

The Ohio League has been working with us to introduce this bill, which will help credit unions expand into underserved areas. 

Posted June 27, 2016 by CUNA Advocacy
We have released our summary of the proposed rule, and sent out two letters to regulators highlighting its problems.
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!
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.

Posted June 24, 2016 by CUNA Advocacy
The Financial Services Committee Chairman has now made public the details of his Dodd-Frank reform plan.
Posted June 24, 2016 by CUNA Advocacy
We have long advocated for NCUA to make these changes, which would add additional flexibility for FCUs to own and use fixed assets.
Posted June 23, 2016 by CUNA Advocacy

Several small business and HR representatives testified that this new, complex rule sets an overly broad standard for the entire country and is difficult to comply with. 

Posted June 23, 2016 by CUNA Advocacy
We are a member of this coalition of depository institutions and card issuers, which has been strategizing and lobbying hard to repeal Durbin.
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.
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.
Posted June 18, 2016 by CUNA Advocacy
This extensive report evaluated the recent CFPB proposed rule and the various ways small-dollar lenders have avoided state and federal regulation in the past.
Posted June 17, 2016 by CUNA Advocacy
This reform package is similar to the one recently released by Chairman Hensarling, and specifically focuses on financial services issues.
Posted June 17, 2016 by CUNA Advocacy
Although there is not yet a Senate version of this bill, President Obama is likely to veto any attempt to block the new rule in any case.
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.
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.
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.
Posted June 15, 2016 by CUNA Advocacy

This is yet another significant change in NCUA policy under the new leadership of Chairman Rick Metsger.

Posted June 15, 2016 by CUNA Advocacy
We sent a letter to Rep. Randy Neugebauer in strong support of his new bill, H.R. 5465, which would repeal the misguided Durbin Amendment and its implementing regulations.
Posted June 14, 2016 by CUNA Advocacy

The Bureau re-affirmed its commitment to publishing proposed fixes to the large and cumbersome TRID rule by late July. 

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. 

Posted June 10, 2016 by CUNA Advocacy
While we support the intent of the proposed Playbook, we ask the CFPB to continue to look for ways in which to improve and simplify consumer disclosures.
Posted June 09, 2016 by CUNA Advocacy
The CFPB recently updated its eRegulations platform, which now includes Regulations C, X, and DD.
Posted June 09, 2016 by CUNA Advocacy
Despite this expected veto, the Department of Labor's Fiduciary Rule is being challenged in several courts.
Posted June 08, 2016 by CUNA Advocacy
While the Durbin Amendment has proven to be a boon to retailers, it has become yet another burden on small financial institutions.
Posted June 07, 2016 by CUNA Advocacy
This package includes several regulatory relief provisions that we have previously supported, including CFPB reforms.
Posted June 06, 2016 by CUNA Advocacy
This reform package could feature up to two-dozen regulatory relief bills for community financial institutions.
Posted June 03, 2016 by DW CMS
Unfortunately, the FCC's narrow reading of the Budget Act led to proposed TCPA exemptions which are virtually meaningless.
Posted June 03, 2016 by DW CMS

The CFPB rule is intended to "coexist" with state laws, but would preempt state law in cases of inconsistency.

Posted June 02, 2016 by CUNA Advocacy
The webinar is intended to assist credit unions as they prepare to comply with the recent expansion of the Military Lending Act (MLA).
Posted June 02, 2016 by CUNA Advocacy
Although we are still analyzing this massive 1300-page rule, so far it has a mixed impact on credit unions.
Posted June 01, 2016 by CUNA Advocacy
We expect this hearing will coincide with the release of the CFPB's much anticipated small-dollar/payday lending proposed rule.
Posted May 31, 2016 by CUNA Advocacy

We responded to Treasury Secretary Jack Lew's request for new legislation expanding FATCA reporting requirements to non-interest bearing accounts.

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. 
Posted May 27, 2016 by CUNA Advocacy
In the past few months, the CFPB has increasingly focused on preventing elder abuse, and has been distributing media on the subject.
Posted May 26, 2016 by CUNA Advocacy
Agency staff received input from a diverse array of credit union representatives, including Tim Anderson, President/CEO of Government Printing Office FCU.
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.

Posted May 24, 2016 by CUNA Advocacy
The draft also maintains or increases funding levels for several important community and small business development funds.
Posted May 24, 2016 by CUNA Advocacy
Pennsylvania credit unions of all different asset sizes discussed regulatory burden,and  urged the CFPB to exempt credit union small-dollar products from the upcoming payday loan rulemaking.
Posted May 24, 2016 by CUNA Advocacy
Our comments stressed that since credit unions are frequently involved in the financing of automobiles and the transfer of titles, the ability to perfect a lien is of utmost importance to our members.
Posted May 24, 2016 by CUNA Advocacy
Two CFPB staff who helped draft the expansion of the rural designation will answer questions during this half-hour briefing.
Posted May 23, 2016 by CUNA Advocacy
We are now welcoming comments from credit unions on the CFPB's recent proposed rule on pre-dispute arbitration clauses.
Posted May 19, 2016 by CUNA Advocacy
Several pending rulemakings will impact credit unions, and could increase the regulatory burdens they face.
Posted May 19, 2016 by CUNA Advocacy
CUNA CEO Jim Nussle and several CUNA staff presented the Director with several documents demonstrating increasing regulatory burden and discussed how the CFPB can ease them going forward.
Posted May 19, 2016 by CUNA Advocacy
Board members and Larry Fazio discussed call report modernization and extending exam cycles.
Posted May 19, 2016 by Meghan M
We believe this recent CFPB proposal could damage the healthy relationship between credit unions and their member-owners.
Posted May 19, 2016 by CUNA Advocacy
We expect that the CFPB's long-awaited proposed rule on payday/small dollar lending will be released at this hearing.
Posted May 18, 2016 by CUNA Advocacy
While we appreciate the inclusion of our input in the final rule, we remain concerned about the burdens it places on credit unions.
Posted May 18, 2016 by CUNA Advocacy
Committee members and witnesses echoed our concerns, specifically about what constitutes and "autodialer", and what businesses should do when a customer's phone number has been reassigned.
Posted May 18, 2016 by CUNA Advocacy
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.
Posted May 18, 2016 by CUNA Advocacy
This new move is intended to allow Board members to hold discussions amongst themselves before initiating a rulemaking.
Posted May 18, 2016 by CUNA Advocacy
We are requesting an update to possible revisions of the rule, as well as a compliance guide, before the October effective date.
Posted May 17, 2016 by CUNA Advocacy
PACE loans are troublesome for credit unions in their role as lienholders, because these loans take first priority and must be paid before borrowers can refinance or sell their property.
Posted May 17, 2016 by CUNA Advocacy
Our letter stressed that the CFPB's recent proposed rule on arbitration is not appropriate for credit unions, and could block members' access to timely dispute resolution.
Posted May 17, 2016 by CUNA Advocacy
The hearing featured an in-depth discussion on the intricacies and mechanics of monetary policy implementation.
Posted May 13, 2016 by CUNA Advocacy
This removal of the personal guarantee requirement is the first part of the recent MBL changes to become effective.
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.
Posted May 12, 2016 by CUNA Advocacy
This latest proposal would create exemptions for calls made to cell phones when collecting a debt owed to or guaranteed by the federal government.
Posted May 11, 2016 by Meghan M
This rule was issued jointly by all the banking/financial regulators and NCUA, but only applies to credit unions over $1 billion in assets.
Posted May 11, 2016 by CUNA Advocacy
We are pushing several pieces of legislation through both chambers that would expand credit union powers and reduce regulatory burden.
Posted May 11, 2016 by CUNA Advocacy
The proposed overtime rule could have significant costs for small and rural credit unions, so we are glad the Senate committee held a hearing on this issue.
Posted May 10, 2016 by CUNA Advocacy
We are concerned that the upcoming proposal may affect first-party creditors, including credit unions.
Posted May 09, 2016 by CUNA Advocacy
We’re concerned about carve-outs for government debt collectors, and plan to urge the FCC to extend this same exemption to financial institutions.
Posted May 09, 2016 by CUNA Advocacy
In this final rule, FinCEN erred in its conclusion that the societal benefits of this rule exceed the compliance costs to financial institutions.
Posted May 05, 2016 by CUNA Advocacy

We are concerned that this proposal does not take into account the member-centric business model of credit unions, and would remove opportunities for fast, cost-effective dispute resolution.

Posted May 05, 2016 by CUNA Advocacy
These letters expressed concerns that the Bureau has not adequately studied the arbitration issue before proposing its new regulation.
Posted May 05, 2016 by CUNA Advocacy
Our letter expressed to the Treasury commission that credit unions are natural partners in financial literacy efforts.
Posted May 03, 2016 by CUNA Advocacy
This final rule amends aspects of the program related to lender indemnification, refinancing, and qualified mortgage requirements.
Posted May 03, 2016 by CUNA Advocacy
This hearing will feature panelists from consumer groups, law firms, and the US Chamber.
Posted May 02, 2016 by CUNA Advocacy
The letter reiterated the importance of credit union small-dollar lending, and asked the CFPB for exemptions from its forthcoming regulation.
Posted April 29, 2016 by CUNA Advocacy
This set of prototype disclosures would provide borrowers with personalized information about their repayment options from loan servicers.
Posted April 29, 2016 by CUNA Advocacy
FFIEC recognizes that the compliance world has changed, and is updating the rule for the first time since 1980, to reflect existing laws and regulations.
Posted April 29, 2016 by CUNA Advocacy
This bill, along with its Senate companion, attempts to use the Congressional Review Act to block implementation of the final rule.
Posted April 29, 2016 by CUNA Advocacy
This bill would prohibit the use of guarantee fees to offset unrelated federal spending.
Posted April 28, 2016 by CUNA Advocacy
Director Cordray acknowledged the difficulties with the recent TRID rule, and announced that the CFPB will begin the process of amending it.
Posted April 27, 2016 by CUNA Advocacy
The Board finalized several CUNA-supported improvements, and decided to push back the implementation date until December 2020.
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.
Posted April 26, 2016 by CUNA Advocacy
We stressed that credit unions should have equal access to partner with the FHFA and the government-sponsored enterprises (GSE) as they craft regulations and pilot programs.
Posted April 25, 2016 by CUNA Advocacy
CUNA and League representatives discussed successes and challenges with the implementation of HMDA and other recent rules.
Posted April 22, 2016 by CUNA Advocacy
Our letter thanked the Bureau for properly implementing Congress’s intention to expand the pool of small creditors that will be eligible for exemptions from new mortgage rules.
Posted April 21, 2016 by CUNA Advocacy
We expect that the proposed rule for arbitration will be released in conjunction with the hearing.
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.
Posted April 21, 2016 by CUNA Advocacy
The latest meeting featured a report on the share insurance fund and the proposal of two new rules.
Posted April 21, 2016 by CUNA Advocacy
This legislation would delay the implementation of the CFPB's HMDA rule until the GAO has studied the impact of these increased data points, and ensured that consumer data remains secure.
Posted April 21, 2016 by CUNA Advocacy

The latest research report from the Bureau focused on online payday lenders and their relation to the banking system.

Posted April 20, 2016 by CUNA Advocacy
Members in both chambers of Congress have introduced resolutions to prevent the final fiduciary rule from being implemented.
Posted April 18, 2016 by CUNA Advocacy
The legislation would limit the ability of Federal banking regulators to discourage or restrict certain customer relationships, unless certain criteria are met.
Posted April 18, 2016 by CUNA Advocacy
The bill would create a Credit Union Advisory Committee and a Community Bank Advisory Committee within the Treasury Department.
Posted April 15, 2016 by CUNA Advocacy
While we appreciate some of the Director's comments, the Bureau has still fallen short of providing meaningful regulatory relief for credit unions.
Posted April 14, 2016 by CUNA Advocacy
In advance of a subcommittee hearing on job growth, we sent a letter urging the committee to consider two bills that would help expand credit union small business lending and therefore job creation.
Posted April 13, 2016 by CUNA Advocacy
The CFPB's structure came under Constitutional scrutiny in recent oral arguments before a US appellate court.
Posted April 13, 2016 by CUNA Advocacy
We urged the CFPB to craft its rulemaking away from credit unions, and acknowledge the consumer-friendly nature of credit union products.
Posted April 12, 2016 by CUNA Advocacy
Credit union staff and representatives met with CFPB officials to clarify and expand on concerns illustrated in our recent comment letter regarding the CFPB's HMDA Resubmission guidelines.
Posted April 11, 2016 by CUNA Advocacy
A CUNA-supported bill that would change the CFPB's funding mechanism is heading to a committee markup on Wednesday.
Posted April 11, 2016 by CUNA Advocacy
A pair of letters we sent to both chambers of Congress expresses our support for two bills that would require the US Department of Labor to more carefully assess the impact of its Overtime Pay Rule on small institutions.
Posted April 07, 2016 by CUNA Advocacy
The CFPB Director reiterated his view that his agency has appropriately used and interpreted the exemption authority in Section 1022 of Dodd-Frank.
Posted April 07, 2016 by CUNA Advocacy
The Department of Labor released its final rule defining who is a “fiduciary” of an employee benefit plan under the Employee Retirement Income Security Act of 1974 (ERISA).
Posted April 05, 2016 by CUNA Advocacy
The hearing featured expert testimony from four witnesses, and focused on how CFPB enforcement actions and regulations have impacted consumer access to financial services.
Posted April 05, 2016 by CUNA Advocacy
Two federal lawsuits are now challenging key aspects of Dodd-Frank, involving both of the new regulatory bodies created by the act.
Posted April 05, 2016 by CUNA Advocacy
Our letter, which was sent in response to a request for information from two members of Congress, included several suggestions for how the CFPB could ease compliance with this massive new regulation.
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.
Posted April 04, 2016 by CUNA Advocacy
Since last month's advocacy efforts, FASB has made positive changes to its proposed accounting standard.
Posted April 01, 2016 by CUNA Advocacy
This controversial rule is likely to be released as final next week, although pressure from Congress and the courts may continue.
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
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.