WASHINGTON (2/26/16)--The ever-increasing regulatory burden credit unions are subject to was chief among the topics of discussion with thousands of credit union leaders and their elected officials on Capitol Hill this week. As part of the CUNA Governmental Affairs Conference, nearly 5,000 credit unions leaders lined up meetings with legislators to discuss credit union issues.
CUNA compliance staff recently responded to a query if credit unions are required to disclose the numerical value of the military annual percentage rate to borrowers covered under the Military Lending Act.
Following its groundbreaking comprehensive study on regulatory burden, CUNA released its new Regulatory Burden Calculator that allows individual credit unions to assess the impact of regulation on their operations.
After months of advocacy by CUNA, the CFPB Thursday wrote to CUNA announcing it will initiate a rulemaking this summer to address issues with the bureau’s Truth in Lending Act-Real Estate Settlement Procedures Act integrated disclosures rule.