CFPB regulations should be appropriately tailored and based on data, CUNA Chief Advocacy Officer Ryan Donovan wrote in a Credit Union Journal op-ed that appeared Friday, noting that credit unions need more relief from the bureau.
Following the years of effort it took for S. 2155 to be constructed, introduced and signed into law, CUNA President/CEO Jim Nussle said credit unions are continuing to build on that momentum toward additional relief.
The CFPB should conduct an extensive review of the regulations under its jurisdiction, CUNA wrote Friday, sending a copy of its comprehensive white paper in response to the RFI on inherited regulations and inherited rulemaking authorities.
CUNA will be engaged as Senate appropriators mark up FSGG appropriations legislation for fiscal year 2019 this week, paying close attention to allocations for several important credit union funds, including the CDFI Fund and CDRLF.
The CFPB should look closely at its rules and streamline regulations or exempt credit unions entirely, CUNA wrote to the bureau Tuesday in response to its RFI on adopted regulations and new rulemaking authority.
President Donald Trump will nominate former NCUA board member Rodney Hood to fill the board seat currently held by board member Rick Metsger. Hood previously served as vice chair of the NCUA board from 2005 to 2010.
President Donald Trump nominated White House budget official Kathy Kraninger to lead the Bureau of Consumer Financial Protection. CUNA President/CEO Jim Nussle said CUNA, leagues and credit unions look forward to working with the new director and will continue their push for regulatory relief.
Defining key statutory terms and identifying methods to revoke consent in the Telephone Consumer Protection Act will help reduce confusion for credit unions trying to remain in compliance, CUNA wrote to the FCC Wednesday.
The House Appropriations Committee passed its Financial Services and General Government Appropriations Act for Fiscal Year 2019 late Wednesday night, legislation with a number of CUNA-supported regulatory relief provisions.
CUNA wrote in support of a bill it called a “long overdue” modernization of the Bank Secrecy Act Wednesday. The Counter Terrorism and is expected to be marked up by the House Financial Services Committee Thursday.
Credit union supporters are encouraged to nominate individuals and organizations for the Herb Wegner Memorial Awards to be presented by the National Credit Union Foundation. Winners will be honored at the Foundation’s annual awards and fundraising gala.