The House voted 275-146 in favor of a CUNA-backed bill Thursday, the Privacy Notice Technical Clarification Act, which would update the Gramm-Leach-Bliley Act to update the exception for certain annual notices provided by financial institutions.
The NCUA board finalized two rules at its Thursday meeting, the final meeting of 2017. Both rules, on emergency mergers and agency reorganization, were approved unanimously. The board will meet next on Jan. 25.
Small credit unions will have the opportunity to win one of two full scholarships to the 2018 CUNA GAC in Washington, D.C., through a contest that starts Monday from CUNA and sponsored by CUNA Mutual Group.
CUNA wrote to House Financial Services Committee leadership Thursday in support of several regulatory relief bills being discussed at the committee’s hearing. The bills would provide relief on several fronts.
CUNA Chief Advocacy Officer Ryan Donovan spoke at a International Volunteer Day panel hosted by Volunteers for Economic Growth Alliance this week, sharing his experiences earlier this year on an advocacy journey to Ukraine.
The Federal Housing Administration announced Thursday it will no longer insure new mortgages on properties that include Property Assessed Clean Energy (PACE) assessments, a victory for credit union mortgage lenders.
Credit unions who made claims under the Home Depot data breach settlement will begin receiving settlements payments from the company starting in January. A settlement was approved in September that included the creation of a $25 million fund by Home Depot and an agreement to strengthen its future data security measures.
The Senate Banking Committee voted to pass the CUNA-backed, bipartisan Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155). CUNA strongly supports the bill, which contains several regulatory relief provisions for credit unions.
CUNA stressed the need for Bank Secrecy Act compliance reporting relief, a return to the 1.3% net operating level and supported an independent examiner review in its comments on NCUA’s strategic plan for 2018-2022.
More than a dozen bipartisan members of Congress wrote to Federal Communications Commission Chairman Ajit Pai Monday asking for CUNA-requested clarifications of the Telephone Consumer Protection Act, as presented in its petition.