CUNA and its PAC, the Credit Union Legislative Action Committee (CULAC), were recognized with three Pollie Awards by the American Association of Political Consultants (AAPC) Thursday. The awards were for credit union political efforts in the 2020 election cycle.
Credit union calls were inappropriately blocked and mislabeled as spam, CUNA wrote to the FCC Friday. CUNA remains concerned that credit union-member communications are still being blocked and mislabeled by voice providers.
Expanded CUSO lending authority will allow CUSOs to better serve credit union members, CUNA wrote to NCUA Friday. NCUA's proposal would expand the list of permissible activities and services for CUSOs to include originating any type of loan that a federal credit union may originate.
Two retail trade organizations filed a lawsuit against the Federal Reserve Board of Governors this week over the interchange fee cap set forth in the Durbin Amendment, part of the Dodd-Frank Act. The Durbin Amendment caps interchange fees charged to retailers for use of debit cards.
Congress charged credit unions with “promoting thrift … [and providing] credit for provident or productive purposes,” in 1934 and credit unions continue to fulfill this mission today, CUNA Chief Advocacy Officer Ryan Donovan wrote to all 535 Congressional offices this week.
Congress should examine the legal framework and regulatory scope governing the oversight of traditional banks and other commercial businesses that are engaged in financial activity. CUNA is especially concerned with the OCC's "true lender" proposal and the "rent-a-bank" trend.
CUNA continued its push for the Federal Communications Commission to issue an Erratum correcting its December 2020 Telephone Consumer Protection Act (TCPA) Report and Order in a joint comment filed Tuesday in response to two petitions filed with the FCC.
The CFPB finalized the delay of the mandatory compliance date of the General QM final rule to Oct. 1, 2022 Tuesday. CUNA has concerns about the CFPB’s stated intention to review and revise the General QM definition.
CUNA has updated its Military Lending Act (MLA) credit card fee spreadsheet for the first quarter of 2021 The spreadsheet is necessary because a credit union may exclude a bona fide credit card fee from the MAPR if the fee is considered “reasonable,” under the MLA rule.
The international credit union movement urges the G20 to take action to increase financial inclusion through a focus on the importance of proportionality, CUNA and the World Council of Credit Unions wrote in advance of the release the 2021 G20 Rome Leaders’ Declaration.