While CUNA applauds bipartisan efforts from Congress to address robocalls and the FCC's treatment of them, it has concerns with the Stopping Bad Robocalls Act (H.R. 3375), which was marked up by House subcommittee Tuesday.
Technology has improved consumer access to financial services, but certain fintech does not have the regulatory structure in place that exists with credit unions and other financial institutions, CUNA wrote to a House Task Force on Financial Technology.
The NCUA board will release a proposal on risk-based capital at its June 20 meeting. CUNA supported changes finalized by NCUA last year, but continues to believe the rule is an area in which NCUA could improve its regulations.
The House Financial Services Committee passed four CUNA-supported bills at the conclusion of a two-day markup, bills covering the Bank Secrecy Act, the National Flood Insurance Program and financial literacy programs.
The two newest members of the NCUA board visited CUNA offices this week, with Chairman Rodney Hood met with CUNA President/CEO Jim Nussle at CUNA’s Washington, D.C. and board member Todd Harper visiting Madison, Wis.
CUNA wrote in support of the Comprehensive Regulatory Review Act Wednesday, which requires financial regulators to review regulations once every seven years, but that legislation should not alter NCUA's current annual review of one-third of its regulations.
The Senate Commerce Committee should press the Federal Communications Commission on what actions and rulemakings, if any, the agency will undertake to ensure legally permissible calls aren’t impacted by last week’s call-blocking ruling.
Although the Gramm-Leach-Bliley Act has served the financial services industry well, Congress must work with the administration to finally address consumer data privacy in a meaningful way, CUNA wrote to Senate Banking Committee leadership Wednesday.
The House Armed Services Committee passed the NDAA for FY2020 and CUNA, Leagues and the Defense Credit Union Council were successful in working to ensure language giving banks rent-free access to military bases was kept out of the bill.
CUNA wrote in support of four regulatory relief bills being marked up by the House Financial Services Committee this week. The bills cover Bank Secrecy Act, flood insurance and financial literacy. The markup is expected to continue at least into Wednesday.
CUNA supported a bill with $300 million for the Treasury’s CDF) Fund and $2 million in funding for NCUA’s Community Development Revolving Loan Fund. The bill was passed by the House Appropriations Committee Tuesday.
Providing NCUA with the flexibility to increase federal credit union loan maturities would provide more opportunities to consumers, including when it comes to affordable education, and CUNA wrote in support of a bill to give NCUA that flexibility.