WASHINGTON (6/11/15)--Protecting members from data breaches and overdraft protection were top issues of discussion during the Missouri Credit Union Association’s (MCUA) Hike the Hill in Washington this week.
The MCUA and representatives from five credit unions visited offices of all the state’s congressional delegation and the Consumer Financial Protection Bureau (CFPB) during the first of 10 Hike the Hills already scheduled for this year.
Overdraft protection (ODP) dominated the conversation during Monday’s meeting with the CPPB, according to Amy McLard, MCUA senior vice president of advocacy.
"It was clear during our discussion that the CFPB representatives we met with do recognize the credit union difference and the potential impact on members,” said Don Cohenour, MCUA president/CEO. “We will continue to provide examples and support materials about overdraft protection as the CFPB approaches ODP rulemaking."
McLard added, “With the CFPB looking into overdraft protection, this meeting was a chance to highlight how credit union members actually use the program and the impact it could have on consumers if their access is limited.”
The delegation met with Sen. Roy Blunt (R) and staff from the office of Sen. Claire McCaskill (D). Those discussions focused on data security, the credit union not-for-profit tax status, regulatory relief, privacy notice legislation and patent reform, McLard reported.
Blunt, along with Sen. Tom Carper (D-Del.), recently introduced the Data Security Act of 2015 (S. 961).
The group also met with Reps. Lacy Clay (D), Blaine Luetkemeyer (R), Emanuel Cleaver (D), Billy Long (R), Jason Smith (R) and the staff of Ann Wagner (R), Vicky Hartzler (R), and Sam Graves (R).