NWCUA Launches Turnkey Regulatory Advocacy Site

The regulatory burden on credit unions has grown exponentially over the last few years.  With the implementation of the Dodd-Frank Act and the advent of the Consumer Financial Protection Board, that burden will grow even heavier.  Our role as your Association is to weigh in on your behalf before those rules and regulations become final. 

But, to advocate effectively we need your input. Whether you are a compliance officer, manager, or a CEO—we want to hear from you.

Now, regulatory advocacy is as easy as 1-2-3!

  1. Review the summary of the proposed regulation (Usually under 3 pages in length);
  2. Reflect on ways it may impact your day-to-day operations or the unintended consequences of the proposal; and
  3. Respond with an email, phone call, or simply click here to send in a comment.

Whether you want to send one sentence or feel passionate enough to write a book, we’ll take it! 

How Does this Process Work?

The Association sends out alerts when major proposals are in the comment stage.  This means that the issuing agency or agencies are seeking public comment on their proposed rules or regulations impacting credit unions.  Our goal is to both inform you with a succinct summary and solicit feedback.  There is no more important voice in the battle against the overwhelming burden of regulation and compliance than the voice of the credit union – the voice of those impacted day-to-day by rules.

New Website

To help aid this process we have developed and launched a Regulatory Advocacy resource on our website.  This one-stop shop offers information on current comment calls including both a summary and a link to the full agency proposal, as well as an archive of comment calls and letters previously issued to federal and state agencies by the Association. 

And remember: advocacy often begins even before those big battles in Congress.  Before that legislative amendment to fix the Federal Reserve’s proposed interchange provisions the Federal Reserve received comments from over 11,000 people about the flaws in the proposed regulation, which caught the eye of media and lawmakers and helped make this a mainstream issue. 

To be included on the Comment Call email list, please send an email to Director of Regulatory Advocacy, Jaycee Winn at jwinn@nwcua.org.

Posted in Advocacy News, Compliance News, Federal, NCUA.