CUNA Advocacy Update

CUNA Releases Summary of Small Dollar Loan Proposal:

Last week, we released an analysis of the CFPB’s proposed rule on small dollar loans, outlining several areas where credit union products could be impacted.

CUNA, ICBA Collaborate on Letter to CFPB:

Last week, CUNA President and CEO testified on Title I of the Financial CHOICE Act and sent a letter discussing CUNA’s views on the remainder of the bill.

CUNA to Host Webinar on DoL Overtime Rule:

The webinar is free for affiliated credit unions, though registration is required, and will run from 2 to 3:15 p.m. (ET) July 18. [More]

We Need Your Feedback Regarding the CFPB Small Dollar Loan and Arbitration Proposals:

We are currently seeking widespread feedback from credit unions about how the CFPB’s small dollar proposed rule and arbitration proposed rule could impact credit union operations, and the ability to offer products and services. We will continue to educate the Bureau about problems both of these rules could cause for credit unions and their members. Please check out the comment call and send comments, questions or concerns to Leah Dempsey, Elizabeth Eurgubian, Andy Price or me.

Pending Regulatory Comment Calls:

CUNA intends to comment on the following pending regulatory proposals. For our comment letter to have the greatest impact, we need to hear from you. Please consider whether and how these proposals would affect your credit union, and contact the CUNA staff listed with each proposal with your feedback

We encourage Leagues and credit unions to use PowerComment to file comment letters with regulators. For more information regarding these proposals, please follow the links below:

Issue Comment Period Deadline Agency CUNA Staff Contact
Joint Incentive Based Compensation Rule July 22, 2016 NCUA Lance Noggle
Request for Information: Modernizing Call Reports August 1, 2016 NCUA Andy Price
2016 Regulatory Review August 8, 2016 NCUA Lance Noggle
Arbitration Clauses August 22, 2016 CFPB Leah Dempsey
Payday Loans September 14, 2016 CFPB Leah Dempsey
Request for Information: Payday Loans October 14, 2016 CFPB Leah Dempsey

CUNA prepares to participate in summer meetings of state lawmakers:

CUNA and League staff will travel to the Midwest to engage with thousands of state legislators at both the American Legislative Exchange Council’s (ALEC) Annual Meeting in Indianapolis, and the National Conference of State Legislatures’ (NCSL) Legislative Summit in Chicago. [More]

Over on the Removing Barriers Blog:

Mulvaney / Heck introduce Overhead Transfer Rate billRegulatory Relief legislation moving through appropriations process… Congress and CUNA weigh in on FHFA proposal adding language preference question to URLAPrivacy Notification proposal subject to comment…

Posted in Advocacy News, CUNA.