WASHINGTON (11/17/15)--It's a busy week for credit unions, CUNA Chief Advocacy Officer Ryan Donovan declared Monday.
On the regulatory front, the National Credit Union Administration is tackling major issues at its open board meeting Thursday, including a field-of-membership proposal, and the agency's operating budget for the next two years (News Now Nov. 12).
"As part of our ongoing and comprehensive effort to improve the operating environment for credit unions to serve their members, we've encouraged NCUA to adopt new field-of-membership regulations that recognize and adapt to the changes that have taken place in the marketplace and in how credit unions serve members," Donovan noted.
CUNA has encouraged NCUA to:
In Congress, both chambers are back in session this week. CUNA will be monitoring a House vote this week on a CUNA-supported bill that would remove operating barriers for credit unions by allowing mortgage lenders to count loans held in portfolio toward the Consumer Financial Protection Bureau's Qualified Mortgage requirements. (See related story: CUNA seeks 'yes' vote on House bill addressing QM loans.)
CUNA also will be following committee hearings relevant to credit unions, including the following: