Federal regulatory agencies—including NCUA and the Consumer Financial Protection Bureau (CFPB)—released the latest Unified Rulemaking Agenda with several items of interest for credit unions. The agenda includes actions the agencies plan to take in the near or long term but is not a definitive schedule with specific timelines.

The CFPB lists a final rule on credit card late fees as part of the agenda. CUNA has already expressed serious concerns over the rule as proposed and called it a “gross deviation from the bureau’s standards for issuing policies grounded in sound and relevant data.”

CUNA has called for the CFPB to withdraw this proposal or, at a minimum, postpone progress until it can conduct a proper analysis of the entire credit card market and the potential outcomes of changing late fee levels.

The CFPB agenda also lists pre-rule activity on overdraft fees and insufficient funds fees.

NCUA’s agenda includes:

• Final rules on overdraft policy, subordinated debt, and the Bank Secrecy Act (BSA).
• Proposals on digital assets, BSA compliance, and simplification of share insurance rules.
• Pre-rule activity on climate-related financial risk.