CUNA wrote in support of the Comprehensive Regulatory Review Act Wednesday, which requires financial regulators to review regulations once every seven years, but that legislation should not alter NCUA's current annual review of one-third of its regulations.

The Senate Commerce Committee should press the Federal Communications Commission on what actions and rulemakings, if any, the agency will undertake to ensure legally permissible calls aren’t impacted by last week’s call-blocking ruling.

Although the Gramm-Leach-Bliley Act has served the financial services industry well, Congress must work with the administration to finally address consumer data privacy in a meaningful way, CUNA wrote to Senate Banking Committee leadership Wednesday.

The House Armed Services Committee passed the NDAA for FY2020 and CUNA, Leagues and the Defense Credit Union Council were successful in working to ensure language giving banks rent-free access to military bases was kept out of the bill. 

CUNA wrote in support of four regulatory relief bills being marked up by the House Financial Services Committee this week. The bills cover Bank Secrecy Act, flood insurance and financial literacy. The markup is expected to continue at least into Wednesday.

CUNA supported a bill with $300 million for the Treasury’s CDF) Fund and $2 million in funding for NCUA’s Community Development Revolving Loan Fund. The bill was passed by the House Appropriations Committee Tuesday.

Providing NCUA with the flexibility to increase federal credit union loan maturities would provide more opportunities to consumers, including when it comes to affordable education, and CUNA wrote in support of a bill to give NCUA that flexibility.

CUNA urged members of the House Armed Services Committee to reject language in the NDAA for fiscal year 2020 that would allow banks rent-free access to military bases. The committee started marking up the NDAA Tuesday.

It is essential to delay CECL to study its potential impact and allow consideration of other methods, leading CUNA to support the CECL Consumer Impact and Study Bill of 2019, introduced by Reps. Vicente Gonzalez (D-Texas) and Ted Budd (R-N.C.).

CUNA outlined several additional amendments to the HMDA transactional coverage thresholds to the CFPB Tuesday, changes that would reduce regulatory costs associated with HMDA compliance for more than 1,500 credit unions.