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 supports federal credit unions’ access to federal courts via diversity jurisdiction, one of the two methods for a federal court to have jurisdiction, the association indicated in an amicus brief filed Monday with the U.S. Court of Appeals for the Fourth District
CUNA will be engaged with activities and meetings on both sides of Capitol Hill this week, including negotiations to extend the National Flood Insurance Program past its current May 31 expiration date.
CULAC and the Pennsylvania Credit Union Association are supporting State Rep. Fred Keller (R) Tuesday in a special election for the seat in Pennsylvania’s 12th Congressional District, which is open due to former Rep. Tom Marino’s (R) retirement.
NCUA has previously said assessing a credit union’s preparedness for CECL is a supervisory priority in 2019, and now an AIRES examination questionnaire on CECL preparedness is available with nine questions currently being used by examiners.
FCC Commissioner Michael O’Rielly said Thursday the FCC has an obligation to resolve many of the worthy TCPA petitions that are currently pending and cited CUNA’s petition, as a "common-sense request" the agency should address.
Members of the House Financial Services Committee expressed concerns about CECL and cited CUNA data on credit union issues with the standard Tuesday in a hearing with NCUA Chairman Rodney Hood, who said his agency shares those concerns.
The NCUA board will issue a proposal on public unit and non-member shares, see a briefing on the Office of Credit Union Resources and Expansion and receive an update on the share insurance fund at its Thursday meeting.
CUNA emphasized credit union priorities on several issues for Congressional hearings this week, including on payday lending, arbitration and the Telephone Consumer Protection Act in letters submitted for the record of hearings on those topics.
CUNA is concerned about proposed action from the FCC that would block robocalls by default, believing it could result in serious disruptions to credit union-member communications. The commission will vote June 6 on a declaratory ruling.
CUNA joined with other financial services trade associations Wednesday to call on all financial institution CEOs to join Sheltered Harbor, a voluntary initiative to help protect against cyberattacks. CUNA is a founding board member of Sheltered Harbor.