A little more than a week remains for credit unions to comment on the CFPB's short-term, small-dollar lending proposed rule. Comments on the proposal are due Oct. 7. CUNA has a number of concerns with the proposal.
Credit unions and for-profit debt collectors have different considerations when communicating with consumers, CUNA wrote to the CFPB Friday. CUNA wrote to the CFPB as the bureau releases the proposal for a Small Business Review Panel.
CUNA was in attendance Thursday for the semi-annual meeting of the CFPB's Credit Union Advisory Council. The council advises the bureau on how its programs are impacting credit unions and is comprised of mostly CUNA members.
Comments on new information collection for the CFPB's complaint database are due to CUNA by Sept. 14, and to the bureau by Sept. 30. The CFPB requested approval to establish a new information collection.
CUNA will be in attendance Thursday as the CFPB Credit Union Advisory Council conducts its semi-annual meeting. The meeting will feature discussions about debt collection and youth financial literacy and will be streamed live.
With tax season upon consumers once again, it’s also when they are most vulnerable to tax refund fraud. Since the methods for tax refund distribution generally go through financial institution, credit unions can battle tax refund fraud.