WASHINGTON (1/5/16)--Comments on Home Mortgage Disclosure Act (HMDA) data collection and customer due-diligence (CDD) rules are due in January, and comments on the National Credit Union Administration’s (NCUA) field-of-membership proposal are due in early February.
The NCUA’s proposal would make revisions to the agency’s field of membership rules, which would allow credit unions to more flexibility to serve those that share a common bond.
CUNA has prepared a detailed summary of the proposal, designed to help credit unions to examine the proposed rule and determine how it would impact them. CUNA issued an action alert in December, urging credit unions to submit a large number of formal comment letters to the NCUA reflecting league and credit union positions on the proposal.
Credit union leagues should look to identify and reach out to credit unions for detailed letters, as well as encourage credit unions to send email comments via Voter Voice.
Bankers have already made efforts to oppose the proposal, making it very important credit unions have a strong united voice in support of the proposed changes.
Comments on the NCUA’s field-of-membership proposal can be sent to the NCUA by Feb. 8.
Comments due this month include: