CUNA Board Chair Susan Streifel, addressing the opening general session of the combined America’s Credit Union Conference and World Council of Credit Unions Conference Sunday, called on her international audience of credit union leaders and advocates to renew their commitment to making credit unions the best financial partners for people in this country and around the world.
“We believe that it is in the interest of humanity that global policymakers and regulators understand credit unions, that they note the value of member-oriented services credit unions provide and that they support the diversity which, thanks to credit unions, is a benefit not just to credit union members, but to all consumers.”
CUNA’s final rule analysis of the CFPB changes to the TRID rule is now available. The rule, published in the Federal Register this week is effective Oct. 10, with a mandatory compliance date of Oct. 1, 2018.
While proposed changes to the CFPB prepaid accounts rule provide some clarity, it will not be helpful for most prepaid card users and CUNA remains opposed to the rule’s application of Regulation Z to certain prepaid cards.
While the DOD has affirmed the Military Lending Act’s effective date for credit card accounts of Oct. 3, CUNA is engaged with legislators to build support for efforts to exempt credit unions from the rule.