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.
More than 100,000 fans of Children’s Miracles Network Hospitals have helped #VoteForMiracles surpass 300,000 votes with one week left in the campaign. More than 2,500 credit unions have also been recognized by the public who are asked during the voting process to “Choose their Credit Union”.
The House passed the CUNA-backed bill Monday that would prevent regulators from requesting termination of certain accounts without a material reason. The Financial Institution Consumer Protection Act is consistent with CUNA’s bipartisan, pro-consumer Campaign for Common-Sense Regulation.
FinCEN launched a new program last week, FinCEN Exchange, to enhance information sharing between law enforcement and financial institutions. Credit union participation in the program is voluntary, and the program does not introduce any new regulatory requirements.
CUNA Board Chairman Pat Jury urged credit unions to maintain the momentum and keep the Senate’s bipartisan regulatory relief bill moving forward in an action alert to credit unions. S. 2155 passed committee Tuesday with a 16-7 vote.
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.