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.
CUNA urged members of the House Armed Services Committee to reject language in the NDAA for fiscal year 2020 that would allow banks rent-free access to military bases. The committee started marking up the NDAA Tuesday.
It is essential to delay CECL to study its potential impact and allow consideration of other methods, leading CUNA to support the CECL Consumer Impact and Study Bill of 2019, introduced by Reps. Vicente Gonzalez (D-Texas) and Ted Budd (R-N.C.).
CUNA outlined several additional amendments to the HMDA transactional coverage thresholds to the CFPB Tuesday, changes that would reduce regulatory costs associated with HMDA compliance for more than 1,500 credit unions.
CUNA will be engaged with Congressional hearings in both chambers this week, as well as several mark ups of appropriations legislation, including the financial services and general government bill and National Defense Authorization Act.
The Federal Communications Commission Thursday approved a declaratory ruling on default call-blocking. CUNA’s action alert helped secure a “safety valve” in the order, and CUNA’s CompBlog examines what the ruling means going forward.
CUNA attended the two-day meeting of the CFPB's Credit Union Advisory Council Wednesday and Thursday, which included discussions on faster payments, remittances and the CFPB’s recent debt collection proposal.
The CFPB Thursday announced a delay in the mandatory underwriting provisions for its short-term, small-dollar (payday) rule to Nov. 19, 2020. CUNA supports the delaying but also called for an implementation delay of the entire rule.
The FCC Thursday voted to approve its default call-blocking order, which includes a CUNA-supported mechanism for challenging erroneous call blocking. CUNA is concerned the order will lead to credit unions being unable to reach members.
As the FCC prepares to vote Thursday on a default call blocking proposal, many of the hundreds of comments generated by CUNA’s action alert appear to have spurred the agency to provide a relief mechanism for legitimate callers.