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 CFPB's payday rule would have a detrimental impact on access to consumer-friendly credit union products if implemented unchanged, and CUNA believes the rule fails to strike a balance between consumer protection and credit union member service.
NCUA should take steps toward enhancements to the credit union charter, while improving cybersecurity efforts and reducing regulatory burden, CUNA President/CEO Jim Nussle wrote advance of NCUA Chairman Rodney Hood’s Congressional testimony.
The National Credit Union Foundation 2019 grant cycle is open, and it is seeking requests for proposals by June 30 from credit unions that want to measure impacts of their products and services on member and employee financial health.
CUNA will be engaged with a number of Congressional activities this week, including House consideration of a bill extending the National Flood Insurance Program, testimony from NCUA Chairman Rodney Hood and a hearing on payday lending.
The Federal Reserve Board should look at opportunities to increase the Regulation D transfer limit beyond the current six per month, CUNA wrote to the Federal Reserve Monday, commenting on an ANPR highlighting how the limit negatively affects consumers.
FinCEN issued guidance and an advisory relating to virtual currencies last week, affirming its regulatory frameworks, warning of threats posed by virtual currency misuse and consolidating current guidance, regulations and administrative rulings.
The best option for consumers to access high-quality, affordable financial services are the credit unions in their communities, CUNA President/CEO Jim Nussle wrote to Sen. Bernie Sanders (I-Vt.) and Rep. Alexandria Ocasio-Cortez (D-N.Y.) Thursday.
The suggestion that banks and credit unions resemble each other is laughable, CUNA Chief Advocacy Officer Ryan Donovan said in response to banker opposition to CUNA’s request that the CFPB hand over supervision to the largest credit unions to NCUA.
The House Financial Services Committee Thursday passed a bill with BSA/AML relief in the form of an amendment that would index the Currency Transaction Report thresholds for inflation and further study the impact of Suspicious Activity Reports.
CUNA and state credit union leagues attended a CFPB town hall Wednesday its recently issued proposal on debt collection practices. The event included a panel of debt collection associations, consumer advocates and public interest attorneys.