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.
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 supports the efforts of lawmakers on a resolution of disapproval for the Consumer Financial Protection Bureau’s arbitration rule that would financial service providers from using pre-dispute resolution agreements to block class action lawsuits.
CUNA urged Congress to retain and reaffirm the credit union tax status, and outlined the importance of not-for-profit financial cooperatives in a letter sent to the Senate Finance Committee Monday in response to its request for comments.