CUNA filed a comment letter Thursday in response to the NCUA’s proposed rule to increase the asset threshold for supervision by NCUA’s Office of National Examinations and Supervision (ONES) for credit unions from $10 billion in assets to $15 billion.

It is important that critical measures to track and investigate financial crimes involving money laundering and terrorism not create compliance burdens that impede credit unions’ ability to serve consumers, CUNA stated in a letter to the House Financial Services Committee Thursday.

For credit unions to have the necessary resources to serve members and innovate, CUNA and the Leagues called on the Consumer Financial Protection Bureau (CFPB) to provide stability in the marketplace in a letter to the Senate Committee on Banking, Housing, and Urban Affairs Tuesday.  

The Consumer Financial Protection Bureau (CFPB) has the opportunity to transform regulation without hampering consumers’ access to credit and financial products and services, CUNA wrote to the Senate Committee on Banking, Housing, and Urban Affairs Tuesday.