CUNA Advocacy Update – Week of September 18, 2017

Last week was a great week for credit unions and their advocacy efforts! CUNA, the Leagues, and credit unions worked together to ensure passage of an important bipartisan amendment to keep the NCUA out of the appropriations process!

While the amendment battle was an “all hands on deck” situation, it was not the only issue CUNA was working on last week… CUNA urged Equifax to notify ALL consumers who have been breached (we will also be hosting a webinar this week!)… CUNA sent comments to the CFPB on Small Business Lending… CUNA joined ICBA and NAFCU in support of H.J. Res 111 to disapprove of the CFPB’s arbitration rule… CUNA and DCUC met with the DoD on the MLA… the CFPB published the Final HELOC Rule… We’ll discuss all of this and more in this week’s… CUNA Advocacy Update!

Washington State DFI Releases Examination Focus for 2017

Also, How is CIP handled during indirect lending transactions?

Compliance Center: Regulators Release Interagency FAQ on CECL

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One Hour Could Help Mitigate Your CU’s Exposure to Cybersecurity Risk

An upcoming webinar and Your Association’s Cybersecurity Resource Center convene guidance, resources, and best practices all in one spot.

Regulators Release Fall 2016 Update to Rulemaking Agenda

Under the Regulatory Flexibility Act, federal agencies are required to publish their rulemaking agenda twice a year.

WA DCU Issues Bulletin Regarding Website Compliance Exams

Also, this week’s legal briefs from around the Federal landscape, and your compliance question answered.

U.S. District Court Blocks DOL’s Overtime Rule Nationwide

The preliminary injunction blocks the implementation of the Department of Labor’s (DOL) new overtime rules which would have gone into effect on December 1.

WA DFI Announces Important Procedural Change

The change will affect credit unions’ OSOS public web searches, or copies of OSOS filed documents.

Action Request: Comments Needed for Second FOM Proposal

NCUA recently published a second field of membership proposal, with comments due December 9.

FinCEN Releases Cyber-Event Advisory and FAQ

The document shares more on how financial institutions have become attractive targets to criminals.

NCUA Budget Briefing Shows Both Progress, Areas for Improvement

The public review preceded a Board vote on the agency’s two-year budget, scheduled for Nov. 17. Public comment may be submitted until Nov. 4.

NWCUA’s Stang Sees 75% Market Share by 2025

Troy Stang, President & CEO of the Northwest Credit Union Association (NWCUA) shared his strategic vision for “2017 and Beyond” with hundreds of movement leaders who attended the annual MAXX Convention in SeaTac, Washington last week.

Compliance Center: CFPB’s Navy Federal Credit Union Consent Order

Insight into the CFPB order for improper debt collection, along with your Compliance question answered, and legal briefs from the federal landscape.

Washington State DFI Releases 3 DCU Bulletins Affecting State Chartered CUs

Bulletins include notice on MBL Rulemaking, suspended following the recent ICBA lawsuit filed against the NCUA.