CUNA continued its push for Congressional action on data privacy and security Tuesday, highlighting to House and Senate subcommittees key points that should be present in any legislation for the record of two hearings.
While CUNA is concerned about several provisions of the Consumers First Act (H.R. 1500), it believes substantive reform at the CFPB is needed, CUNA wrote to House Financial Services Committee leadership Tuesday as it marked up several bills.
The Treasury’s CDFI Fund is being used to grow local economies and serve communities in need, CUNA wrote to the House Appropriations subcommittee on financial services and general government. There are 285 certified CDFI credit unions.
The time has come for new federal protections regarding the use and security of data held by businesses and entities, CUNA wrote to for the record of a House Energy and Commerce Committee hearing on data privacy.
CUNA and its members are committed to ensuring diversity and inclusion continue to play a meaningful role in every aspect of the credit union system, CUNA wrote to the new House Financial Services subcommittee on diversity and inclusion.
CUNA will be engaged with a variety of hearings in both chambers of Congress this week, including ones on data privacy and diversity in financial services. The Senate Banking Committee will also vote on NCUA and FHFA nominees.
The CFPB last week released a small entity compliance guide for its short-term, small-dollar loan rule. The guide highlights information that may be helpful when implementing the payment-related questions of the rule.
CUNA met with Federal Communications Commission staff throughout this week to discuss the need for clarity surrounding the definition of an autodialer, and for modernization of the Telephone Consumer Protection Act.
The 2019 CUNA GAC, the credit union industry’s largest event, kicks off in just over two weeks and registration is still open. CUNA President/CEO Jim Nussle encouraged credit unions to participate in an event that “shapes our industry.”
CUNA and the World Council of Credit Unions jointly wrote to support the Internal Revenue Service’s (IRS) proposed rule reducing regulatory burdens related to the Foreign Account Tax Compliance Act (FATCA).
The credit union movement’s overall capital-to-asset ratio increased from 10.8% in November to 11.0% in December, according to CUNA’s Monthly Credit Union Estimates for December 2018, and the total dollar amount of capital increased 1.4% to $162.3 billion.