CUNA
  • Advocacy
    • Priorities we’re fighting for
    • Actions you can take
  • News
  • Learn
  • Compliance
  • Shop
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • COVID-19
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • COVID-19
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Contact
Learn More about Member Value

News

Member Benefits
Learn more
Learn more about the benefits of membership.
Home » 2-day CUAC meeting features remittance, debt collection talks
Policy & Issues

2-day CUAC meeting features remittance, debt collection talks

June 7, 2019

CUNA attended the two-day meeting of the Consumer Financial Protection Bureau’s (CFPB) Credit Union Advisory Council Wednesday and Thursday. The CUAC advises the bureau on regulating consumer financial products or services, from the perspectives of credit unions and is comprised solely of CUNA member credit unions.

The first day included a discussion of faster payments, remittances and the CFPB’s “Start Small, Save Up” initiative, a financial education initiative to encourage savings.

The CFPB recently issued a request for information on remittances, and the CUAC provided feedback during the meeting on how the current rule has impacted member service and offered recommendations to improve the rule.

CUNA supports raising the “normal course of business” threshold in the rule to 1,000 remittances per year. Comments are due to the CFPB June 28.

CUAC members also shared examples of work they are doing in their communities to encourages savings and enhance financial literacy during discussion of “Start Small, Save Up.” CFPB Director Kathy Kraninger attended this session.

The Thursday portion of the meeting consisted of a combined session with the CUAC, Community Bank Advisory Council and Consumer Advisory Board.

It included discussion of the CFPB’s recent debt collection proposal, as well as recent trends in the mortgage market.

Additional details on day one and day two of the meeting can be found on CUNA’s Removing Barriers Blog.

Credit Union Magazine - Winter 2020

Winter 2020

Credit Union Magazine’s Winter 2020 edition features CUNA’s 2021 lending outlook, CEO insights on adjusting to the pandemic, and board recruitment strategies.
Digital Edition •  Subscribe

Trending

  • Allowing capitalization of interest is consumer-friendly option

  • Todd Harper appointed NCUA Chairman

  • Compliance: NCUA, agencies issue FAQs on SAR, other AML requirements

Tweets by CUNA_News

Polls

Will you ask employees to receive the coronavirus vaccine?

View Results
More

Champion of America’s Credit Unions

Credit Union National Association is the only national association that advocates on behalf of all of America’s credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • About
  • Careers
  • Contact Us
  • Recommended Websites
  • Privacy Policy

Resources for

  • CUNA Board Members
  • Credit Union Advocates
  • Leagues
  • Press
  • Vendors