CUNA Advocacy Update – Week of June 19, 2017

What’s Happening in Washington this Week
With both the House and Senate in session this week, there are a number of hearings and pieces of legislation expected to be considered. Read more about what is happening this week in Washington here!

CUNA Examines Treasury’s Report on Financial System
A number of credit unions and CUNA staff met with Treasury in April to outline areas where regulatory burdens are harming the ability of credit unions to serve their members. Much of what was discussed in that meeting and in follow-up letters sent afterwards is reflected in the Treasury’s report. CUNA appreciates that Treasury listened to and understands that changes should be made to allow them to have greater ability to provide members with safe and affordable products and services. [Read more here]

CUNA Thanks Senators Rounds, Heitkamp, Tester, Hoeven, Donnelly and Kennedy
CUNA sent a letter to Senators Rounds, Heitkamp, Tester, Hoeven, Donnelly and Kennedy thanking them for sponsoring S. 1310, The Home Mortgage Disclosure Adjustment Act. [Read more here]

CUNA Sends Letter Prior to TCPA Hearing in the House
Prior to the House Judiciary Committee’s Constitution and Civil Justice Subcommittee hearing on “Lawsuit Abuse and the Telephone Consumer Protection Act” (TCPA), CUNA sent a letter to Chairman Steve King and Ranking Member Steve Cohen that was entered into the record.

In addition to working with Congress, CUNA has been active in outlining credit union concerns with the TCPA to the Federal Communications Commission (FCC). [Read more here]

CUNA Urges Support for the Community Development Revolving Loan Fund

CUNA sent letters of support for the NCUA’s Community Development Revolving Loan Fund (CDRLF) to members of both the House and Senate Appropriations Committees. The letter urges Congress to fully fund the CDRLF program at $2 million, which was zeroed out in the President’s proposed FY 2018 budget [Read more here]

CUNA Makes Suggestions to HUD to Reduce Regulatory Burden
CUNA filed its comment letter in response to the Department of Housing and Urban Development’s request for information to implement Executive Orders 13771 on Reducing Regulation and Controlling Regulatory Costs and Order 13777 on Enforcing the Regulatory Reform Agenda. HUD requested comments in identifying existing regulations that may be outdated, ineffective, or excessively burdensome. [Read more here]

Pending Regulatory Comments 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
Assessment of 2013 RESPA Servicing Rule July 10, 2017 CFPB Andy Price
Assessment of Ability-to-Repay/QM Rule July 31, 2017 CFPB Andy Price
Review of Regulation July 31, 2017 Treasury Leah Dempsey
Availbility of Funds and Collections of Checks August 1, 2017 FED Luke Martone
Bylaws, Bank Conversions & Mergers, and Voluntary Mergers of FICUs August 7, 2017 NCUA Andy Price
Supervisory Review Committee, Procedures for Appealing Material Supervisory Determinations August 7, 2017 NCUA Andy Price
Appeals Procedures August 7, 2017 NCUA Andy Price
Annual Regulatory Review August 14, 2017 NCUA Luke Martone
Small Business Lending Market September 12, 2017 CFPB Leah Dempsey
CFPB Proposes Changes to Prepaid Rule

The CFPB issued proposed changes to the prepaid accounts final rule published last November. The final rule requires financial institutions to limit consumers’ losses when funds are stolen or cards are lost, investigate and resolve errors, provide free and easy access to account information, and give prepaid consumers new “Know Before You Owe” disclosures. [Read more here]

SBA to Hold Financial Issues Roundtable on June 26
The Small Business Administration’s Office of Advocacy has announced they will host a Financial Issues Roundtable on June 26th at 2:00 PM (ET) at their office in Washington, D.C. The SBA Office of Advocacy is examining the impact of CFPB rules on small entities and credit unions are invited to participate. [Read more here]

Over on the Removing Barriers Blog:

Interesting Reads:

Posted in Advocacy News, CUNA, NCUA.