The Treasury’s report on financial reform reflects a number of areas highlighted by CUNA and credit unions during meetings and follow-up letters. The report, released Monday, is titled “A Financial System that Creates Economic Opportunities: Banks and Credit Unions” and is the first of 4 expected released from the Treasury.
CUNA met with the Treasury in April, as part of a roundtable discussion with credit unions, and followed up with a letter to Secretary Steven Mnuchin containing recommendations to streaming regulations for credit unions.
CUNA also sent letters to the administration and the Consumer Financial Protection Bureau (CFPB), highlighting areas the bureau could make rule changes to improve the operating environment for credit unions.
Many of these suggestions are reflected in the Treasury report, which contains the following recommendations for regulators.
Additional suggestions, and more detail, can be found on CUNA’s Removing Barriers Blog.