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.
Only the Senate is in session this week, and CUNA will be engaged with budget resolution discussions and a hearing on the Equifax data breach. The budget is the precursor to an eventual vehicle for tax reform.
Credit union concerns with the CFPB's arbitration rule were highlighted in an op-ed in the Juneau Empire, concerns that the rule is inappropriate for credit unions and could deprive consumers of a legal option.
The House Financial Services Committee will mark up 8 CUNA-supported regulatory relief bills this week, and CUNA will continue its engagement through the markup to work toward advancing the bills through the legislative process.
Protecting the credit union tax status, the need for regulatory relief and data security were the topics of discussions with policymakers across Capitol Hill and credit unions from Connecticut, Iowa, Maine, Pennsylvania and Vermont.
TheFCC granted CUNA’s request and put out its Telephone Consumer Protection Act petition for public comment. CUNA filed its petition last week, outlining 2 ways credit unions could achieve clarity regarding member communications under the TCPA.
The NCUA, along with other federal financial regulators, updated a frequently asked questions document pertaining to the new current expected credit losses accounting standard, announced in a letter to credit unions.
NCUA posted its proposed 2018-2019 budget Friday, and will accept comments and requests to present at the Oct. 18 budget briefing. CUNA is currently analyzing the materials, which include a proposed operating budget of $298.2 million for 2018.
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.
CUNA and league partners the are working with Congress to remedy an issue surrounding compliance with the Americans with Disabilities Act and are seeking guidance on what is required for websites and online banking software.