CUNA Advocacy Update November 7, 2016

CUNA Expresses Deep Concern Regarding NCUA Budget:

CUNA sent the NCUA a letter addressing concerns with it’s proposed 2017-2018 budget. Although we commend NCUA for implementing a more open budget process, the letter reflects the concerns that CUNA members and staff conveyed to NCUA’s Board at the October 27 budget briefing. [Read More]

NCUA Should Allow Stakeholder Input on Maturing NGNs:

A great deal of new information has emerged recently concerning the NCUA’s program to deal with the cost of the conservatorships of five corporate credit unions during the financial crisis of the past decade. The good news is credit unions can look forward to partial refunds on assessments and refunds of some or all of their extinguished capital in probably three of the five conserved corporates. The bad news is these refunds are unlikely until 2020 or 2021. We believe that credit unions should have a significant say in how and when these liquidations should occur. [Read More]

2016 Elections: Plausible Scenarios and Impact on Credit Unions: 

In the coming days, there will be no shortage of election analysis. Indeed, CUNA will publish its own analysis of the elections through the credit union lens after the major races have been called. As we approach this historic election, however, we have given some high level thought to the possible outcomes and the impact on credit union priorities. [Read More]

2016 Elections Focus on the States:

In addition to the races for control of the White House and Congress, we are closely monitoring the contests for control of the state houses. [Read More]

CUNA Responds to CFPB Request for Information with Litany of Concerns:

In response to the CFPB’s Request for Information (RFI) on Payday Loans, Vehicle Title Loans, Installment Loans, and Open-End Lines of Credit, CUNA filed a letter outlining some additional concerns about CFPB actions. [Read More]

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
Request for Information: Payday Loans November 7, 2016 CFPB Leah Dempsey
Indemnification Payments November 21, 2016 FHFA Andy Price
FHLB Membership for Non-Federally-Insured CUs November 28, 2016 FHFA Andy Price

Over on the Removing Barriers Blog:

Posted in Advocacy News, CUNA.