A CFPB led by a single director is not working for credit unions and has created a rigged system benefitting large banks, CUNA wrote to a House Financial Services subcommittee Tuesday for a hearing examining the bureau’s leadership structure.
The CFPB published its proposed delay of its prepaid accounts rulemaking Wednesday in the Federal Register shifting the implementation date to April 1 a request CUNA made when commenting on the proposed prepaid rule.
CUNA urged the FCC to reject a petition seeking adoption of a rule that would change the definition of “prior express consent” regarding the TCPA, because it fails to prove the FCC has exceeded its authority.
CUNA joined other trade organizations Friday in filing an amicus brief in a court case that questions the CFPB’s structure. The brief focuses on the non-constitutional issues in the case and applauds the court for its previous RESPA ruling.
CUNA encourages Congress to improve credit unions’ ability to offer SBA 7(a) loans, as well as other government guaranteed loans, CUNA President/CEO Jim Nussle wrote to leadership of a House Small Business subcommittee.
Two items of interest to credit union have comments due this month, and CUNA will be weighing in on each with its own comment letter. The first involves the TCPA, the second the DOL's delay of its fiduciary rule.
CUNA has written in support of a bill that would exempt financial institutions with under $50 billion in assets from CFPB rulemakings. Rep. Roger Williams (R-Texas) introduced the bill, and CUNA President/CEO Jim Nussle thanked him Monday.
Credit union support can make a difference in elections, particularly in a close race. Reps. Walter Jones (R-N.C.) and Kurt Schrader (D-Ore.) both know this from experience and shared their election insights during a Tuesday panel.
The discussion boards on CUNA’s Compliance Community featured an interesting discussion last week: what is the difference between the terms “share draft” and “checking account”? The correct use is important since credit unions pay dividends, not interest.