The House voted 294-129 in favor of a bill Tuesday that would provide mortgage-related regulatory relief. The Community Institution Mortgage Relief Act of 2017 (H.R. 3971) was introduced in October by Rep. Claudia Tenney (R-N.Y.).
CUNA filed an amicus brief Tuesday supporting the president’s authority to appoint an interim CFPB director under the Vacancies Reform Act. CUNA and its members have a strong interest in ensuring that the CFPB operates under proper direction.
The House passed the CUNA-backed bill Monday that would prevent regulators from requesting termination of certain accounts without a material reason. The Financial Institution Consumer Protection Act is consistent with CUNA’s bipartisan, pro-consumer Campaign for Common-Sense Regulation.
CUNA has received its first nomination for the 2018 CUNA Board elections, for Class D (League President) – elected at-large nationwide. The nominee is Thomas Kane, president of the Illinois Credit Union League.
The House Financial Services Committee will mark up three CUNA-supported regulatory relief bills starting Tuesday as part of a larger markup. The bills would provide mortgage-related regulatory relief, particularly in relation to TRID.
The House Ways and Means Committee approved the Tax Cuts and Jobs Act (H.R. 1) Thursday afternoon, concluding its four-day markup of the tax reform legislation. The bill leaves the credit union tax status untouched.
CUNA continued its push for clarity surrounding requirements under the Americans with Disabilities Act Thursday, following up its Oct. 31 meeting with the Department of Justice on ADA-website compliance confusion and challenges.
Texans overwhelmingly voted in favor of two credit union-backed amendments to the state’s constitution Tuesday. CUNA, the Cornerstone Credit Union League and Texas credit unions advocated strongly in favor of the amendments.
The House voted in favor Tuesday of the CUNA-backed bill to allow the SEC to perform risk-based examinations of the NRSROs, credit rating agencies the SEC permits other financial firms to use for certain regulatory purposes.
CUNA brought its concerns about frivolous lawsuits brought under the Americans With Disabilities Act to Senate Judiciary Committee leadership for its hearing on lawsuit abuse and its effect on small businesses.