CUNA Advocacy Update – Week of March 27, 2017

In Congress: The House of Representatives is expected to consider S. J. Res. 34, providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Federal Communications Commission relating to “Protecting the Privacy of Customers of Broadband and Other Telecommunications Services” and H.R. 1430, the HONEST Act. The Senate will resume consideration of Montenegro NATO Accession. [Read More]

In the States: This week, 42 states are scheduled to be in session. After an extensive lobbying campaign, the Cooperative Credit Union Association advanced credit union branching legislation to the Governor’s desk in New Hampshire. [Read More]

Credit Union Advisory Council (CUAC) to Meet this Week at CFPB: The CUAC is meeting this week at the CFPB headquarters in Washington, DC to discuss alternative data and consumer access to financial records during the public portion of the meeting, among other topics in the closed session. A number of CUNA members serve on the CUAC and CUNA plans to attend the open portion of the meeting. [Read More]

Banking Committee Member to Bankers: Drop Credit Union Fight: Senator Mike Rounds (R-SD) spoke before the annual American Bankers Association government relations conference here in Washington, DC. He told the assembled leaders of the banking industry that they should end their decades-long fight to eliminate the credit union federal income tax exemption. CUNA applauds Senator Rounds for making this bold public statement in favor of credit unions, especially before an audience that didn’t appreciate the sentiments he expressed. [Read More]

CUNA Meetings with FCC Chairman’s Staff to Press TCPA Concerns: CUNA staff met with staff of Federal Communications Commission (FCC) Chairman Ajit Pai this week to discuss credit union concerns with the July 2015 Telephone Consumer Protection Act (TCPA) Order. During the meeting, CUNA outlined some of the onerous requirements in the Order, which are making it difficult for credit unions of all sizes to communicate with members on their cellphone and via text message. [Read More]

CUNA Applauds FCC Action to End Fraudulent Robocalls: Last week, the FCC took the next steps to combat illegal robocalls. CUNA supports the Commission’s efforts to stifle bad actors while allowing credit unions the ability to continue using automated calls for member-centered reminders and information. [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
Remittance Rule Assessment May 23, 2017 CFPB Luke Martone
On the Removing Barriers Blog:

Good Reads:

Posted in Advocacy News, CUNA.