CUNA recognizes NCUA has made improvements to its budget process reflected in this year’s proposed budget, CUNA Vice President of Research and Policy Analysis Mike Schenk told the agency during its budget briefing Wednesday.
CUNA Vice President of Research and Policy Analysis Mike Schenk and Cooperative Credit Union Association President/CEO Paul Gentile, who chairs CUNA’s examination and supervision subcommittee, will be among the presenters at Wednesday’s NCUA budget briefing.
CUNA continued its push for Congress to ensure consumers affected by the Equifax data breach are notified and protected with 3 letters sent to Senate and House committee hearings Wednesday and Thursday.
The CFPB's final short-term, small-dollar rule appears to have addressed many concerns addressed by CUNA, leagues and credit unions, a big win for the credit union movement. CUNA is still analyzing the nearly 1,700-page final rule.
Members of CUNA’s Consumer Protection Subcommittee discussed the need for regulatory relief and other topics with NCUA, the Consumer Financial Protection Bureau, legislators and CUNA staff during their fly-in meeting this week.
The CFPB issued an interim final rule Wednesday allowing flexibility to mortgage servicers about when they can communicate foreclosure options to borrowers who have requested communications cease. The final rule goes into effect Oct. 19.
The NCUA’s plan to close the Temporary Corporate Credit Union Stabilization Fund, along with a proposed rule and the agency’s strategic plan, were published in the Federal Register Wednesday after the board approved them last week.
CUNA filed its lawsuit Wednesday against Equifax, a suit brought in the wake of a data breach resulting in hackers accessing information on 145.5 million consumers and payment card data of more than 200,000 consumers.
CUNA and outside counsel discussed credit unions’ legal rights in the wake of the Equifax data breach, including potential participation in class action lawsuits, with more than 500 credit unions in a call Tuesday.
Members of CUNA’s Consumer Protection Subcommittee are in Washington, D.C. to meet with NCUA and the CFPB, and will discuss letters CUNA sent to both Tuesday seeking support for its TCPA petition, among other credit union issues.
The World Council of Credit Unions wrote to the Basel Committee suggesting changes to its proposal on market risk capital requirements, the first proposed as expressly applicable to institutions like credit unions in the U.S.
CUNA wrote to the House Energy and Commerce subcommittee on digital commerce and consumer protection Tuesday expressing concerns about the Equifax data breach’s effect on loan underwriting, sent for the record of the subcommittee's hearing.
CUNA wrote in support of legislation Monday that is a step forward in addressing the threat of litigation under the Americans With Disabilities Act, urging legislators to consider how credit unions are being impacted by frivolous litigation.
The House Financial Services Committee passed 8 CUNA-supported regulatory relief bills Thursday. CUNA wrote in support of the bills prior to the markup, particularly one that would raise the CFPB's supervisory threshold to $50 billion.