FOR IMMEDIATE RELEASE    

June 25, 2019                                        

Credit Union National Association (CUNA) sent letters to Congress today ahead of the Energy & Commerce Committee markup of H.R. 3375, the “Stopping Bad Robocalls Act” and ahead of the House Financial Services Committee (HFSC) hearing on fintech revolution.   

• CUNA shares the Energy and Commerce Committee’s concerns regarding the growth of illegal robocalls.  The challenge is how best to stop illegal calls while allowing legitimate businesses to continue to legally engage with their customers.  CUNA is appreciative of the bipartisan bill that has been put together and looks forward to working with the Committee to improve this legislation prior to the full Committee markup. In its current form. the bill could prevent credit unions and other legitimate businesses from providing members and customers with critical information regarding their accounts or business relationship. Read the letter in full here.  

• Credit unions across the country are embracing and developing technology to deliver essential services to credit union members. One example is the shared branch network that enables credit union members to obtain banking services at thousands of credit union branches that are not owned and operated by the credit union at which they are a member. To provide this service, credit unions developed technology that allowed credit unions’ computer systems to work together. While CUNA supports the innovations brought by the fintech marketplace, it remains concerned the regulatory environment might create an environment in which consumers do not receive the same protections from unregulated businesses that offer services traditionally offered by credit unions and banks. Read the letter in full here.  

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About CUNA:           

Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 115 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org. To find your nearest credit union, visit YourMoneyFurther.com.  

CONTACT:          

Lauren Williams         
CUNA Communications         
202-672-3396