CUNA filed a petition Friday with the Federal Communications Commission regarding the Telephone Consumer Protection Act, outlining how it can provide credit unions with regulatory relief from the onerous requirements for communicating with member-owners. In the petition, CUNA proposes two routes for providing credit unions with greater ability to communicate with consumers about information they want and need on their cell phone.
CUNA's compliance staff receives a number of questions about TRID rule, leading to publication of a recent CompBlog post addressing means of delivery and timing requirements for the Loan Estimate and Closing Disclosure forms.
In addition to issuing 2 proposals, the NCUA board finalized 3 rules Friday, and heard an update on the agency’s Enterprise Solutions Modernization program. The final rules involve safe harbor, inflation of penalties and FOIA.
The NCUA filed a response to the lawsuit against its final field-of-membership rule brought by the American Bankers Association. CUNA is tracking the lawsuit, and plans to support the NCUA in its defense of the rule.
The NCUA board voted Thursday to finalize its field-of-membership rule, a rule CUNA President/CEO Jim Nussle praised for providing much needed regulatory relief. NCUA also issued for a proposed rule with additional changes CUNA has advocated for.