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CUNA Advocacy report

The Cheney Report - 3/1/2013

Mar
07

By:  Bill Cheney, President, CEO of the Credit Union National Association, Inc.

GAC In the Rearview Mirror, But New Vision Just Beginning
We had an outstanding Governmental Affairs Conference this week.  My thanks to the more than 4,200 of you who attended and helped make it a huge success.  The Hill visits were productive, our speakers delivered powerful messages that made national news and I was very pleased with the reaction to my presentation on a new strategic vision for the credit union system.

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BSAAG Group Meeting & CUNA Nominations

Feb
25

Credit Union National Association (CUNA) staff participated in the U.S. Treasury’s Bank Secrecy Act Advisory Group (BSAAG) meeting last week with the Financial Crimes Enforcement Network (FinCEN), regulators, and financial institutions. At the meeting, CUNA continued to advocate for efforts to minimize regulatory burdens on credit unions and small financial institutions that have limited compliance resources and staff, and to promote more efficient Bank Secrecy Act (BSA) rules.

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CUNA Attends CFPB Advisory Board Meeting

Feb
25

The Consumer Financial Protection Bureau’s (CFPB) Consumer Advisory Board (CAB) met last week. This was the first CAB meeting of this year. Participants included Credit Union National Association (CUNA) Associate General Counsel Jared Ihrig and other financial association personnel, media contacts, consumer rights attorneys, CFPB staff, and others. 

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Chart on CFPB Rulemakings: Updated 2/25/2013

Feb
25

Credit union representatives now have access to a chart  that highlights various rulemaking projects that are being undertaken by the Consumer Financial Protection Bureau (CFPB). The projects are required by the Dodd-Frank Act. The chart covers topics like Reg Z, Appraisals, Reg B and more.   Click here to view the updated chart.

A CUNA username and password are required to access the chart.

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CFPB Survey

Feb
25

The Credit Union National Association (CUNA) will soon post a comment call that seeks information from credit unions on services specifically marketed to higher education students.

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NCUA Risk Alert on DDoS Attacks

Feb
25

The National Credit Union Administration (NCUA) has released a new credit union risk alert (13-Risk-01), which identifies appropriate policies and procedures to guard against distributed denial-of-service (DDoS) attacks.  To mitigate effects from DDoS attacks, NCUA recommends that credit unions:

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MCUA Comments on CFPB Proposal on Ability to Repay

Feb
25

The Consumer Financial Protection Bureau (CFPB) has already adopted a final rule to implement the ability to repay provisions regarding closed-end mortgage loans under the Dodd-Frank Act. The rule takes effect January 10, 2014. However, the agency is also seeking comments, through today, February 25, on a proposal that would allow some creditors to have more flexibility in complying with the rule.

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Joint Effort to Improve Low-Income Designation Process

Feb
25

Last week, the National Credit Union Administration (NCUA) announced a joint NCUA-National Association of State Credit Union Supervisors (NASCUS) effort to streamline the process for federally insured, state-charted credit unions to determine whether they are eligible for designation as a low-income credit union (LICU).

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NCUA Holds Monthly Open Board Meeting

Feb
19

The National Credit Union Administration (NCUA) will hold its monthly open Board meeting on February 21, 2013 at 10:00 a.m. There are currently three items listed on its agenda for consideration by the NCUA Board:

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FLEC Holds First Meeting of 2013

Feb
19

Last week, the Financial Literacy and Education Commission (FLEC) held its first quarterly meeting of the year. FLEC is comprised of the heads of 20 federal agencies, including the National Credit Union Administration (NCUA), Consumer Financial Protection Bureau (CFPB), and other financial regulators.

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