Comments due on customer service, credit card late fees
July 5, 2022
Comments on several items relevant to credit unions are due in the next several weeks, including the CFPB’s advance notice of proposed rulemaking (ANPR) on credit card late fees. The comment period closes July 22, 2022. CUNA and other trade associations wrote to the CFPB calling for an extension.
Other upcoming deadlines include:
July 21: CFPB is seeking comments related to relationship banking and how consumers can obtain timely responses to requests for information about their accounts from banks and credit unions with more than $10 billion in assets, as well as from their affiliates.
August 2: Federal Trade Commission (FTC) seeks public comment on proposed amendments to the Telemarketing Sales Rule (TSR).
August 5: FinCEN has issued an ANPR regarding the implementation of a no-action letter process at FinCEN.
August 16: The NCUA is collecting comments in response to its 2022 Regulatory Review. Each year the NCUA’s Office of General Counsel conducts a rolling review of one-third of the agency’s existing regulations. This year’s review includes Parts 700 – 710.
Credit Union Magazine’s Summer 2023 issue highlights the lending outlook for the rest of the year, how credit unions leverage fintech companies to boost digital lending, the power of lending partnerships, common Bank Secrecy Act violations, and the shift board members must make when becoming chair.
