CUNA Advocacy Update – Week of March 20, 2017

In Congress: On Thursday, the full House of Representatives is expected to take up its “repeal and replace” of Obamacare. Whether the House leadership has enough votes to pass the bill remains a constant source of rumors and guess work. With little or no help expected from the Democrats, Speaker Paul Ryan must rely only on his 237 Republican votes to pass it and send it to the Senate. With several vacancies in the House, he needs 216 votes for passage. That means he can only lose 21 Republican votes to pass the bill, if all Democrats are present and voting against the bill.

The Senate continues the slow process of confirming Administration nominees to fill out the president’s cabinet and Administrative departments and agencies. Partisan fireworks in the Senate are a certainty this week as Senate confirmation hearings begin for Neil Gorsuch to serve on the Supreme Court. His confirmation remains extremely likely.

In committee, CUNA will be engaged in a hearing in the House Financial Services Committee on Tuesday examining the constitutionality of the Consumer Financial Protection Bureau. [Read More]

In the States: This week, 42 states are scheduled to be in session. Last week, bills impacting credit unions in Georgia and Iowa passed the state legislatures and are awaiting the governors’ signatures. [Read More]

New Mexico Legislature Passes Data Breach Notification and CDFI Bill: After months of advocating with New Mexico lawmakers, the Credit Union Association of New Mexico scored two major victories for credit unions with passage of The Data Breach Notification Act and The Community Development Financial Institution Act. [Read More]

CUNA Seeks Input on Impact of Military Lending Act Rules: We are asking for your feedback regarding the impact that October 2016 changes to the Military Lending Act (MLA) rules are having on your credit union’s abilities to best serve your members’ lending needs. Please complete our survey. [Read More]

CUNA Supports More Time for Fiduciary Rule Compliance: CUNA supports the goal of the Fiduciary rule to protect investors. However, the complexity of this rule and the uncertainty about compliance deadlines and applicability could ultimately harm consumers. Accordingly, CUNA supports the delay and additional analysis about unintended consequences of the rule. [Read More]

Pending Regulatory Comment Calls: CUNA plans to comment on the following pending regulatory proposals. For our comment letters 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 for each proposal with your feedback.

 

For more information regarding these proposals, please follow the links below:

Issue Comment Period Deadline Agency CUNA Staff Contact
Update and Revision of the FinCEN SAR Electronic Data Fields April 3, 2017 FinCEN Luke Martone
Prepaid Accounts Rule – Proposed Delay April 5, 2017 CFPB Luke Martone
Alternative Capital May 9, 2017 NCUA Andy Price
Use of Alternative Data and Modeling Techniques in the Credit Process May 10, 2017 CFPB Leah Dempsey
On the Removing Barriers Blog:

Good Reads:

Posted in Advocacy News, CUNA.